Allspring Global Investments Holdings LLC Has $10.19 Million Stake in Xcel Energy Inc. $XEL

Key Points

• Allspring Global Investments Holdings LLC has reduced its stake in Xcel Energy Inc. by 3.2%, owning 148,257 shares valued at approximately $10.19 million.
• Major investors such as LRI Investments LLC and Vanguard Personalized Indexing Management LLC have increased their stakes in Xcel Energy during the second quarter, reflecting strong institutional interest as 78.38% of the stock is held by institutional investors and hedge funds.
• Bank of America and Jefferies Financial Group have raised their price targets for Xcel Energy to between $84.00 and $92.00, indicating a positive outlook with an average consensus rating of "Moderate Buy".

Allspring Global Investments Holdings LLC trimmed its position in Xcel Energy Inc. (NASDAQ:XEL - Free Report) by 3.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 148,257 shares of the company's stock after selling 4,894 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in Xcel Energy were worth $10,187,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. LRI Investments LLC raised its stake in Xcel Energy by 8.7% during the second quarter. LRI Investments LLC now owns 2,068 shares of the company's stock worth $141,000 after acquiring an additional 165 shares in the last quarter. Vanguard Personalized Indexing Management LLC raised its stake in Xcel Energy by 27.4% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 65,231 shares of the company's stock worth $4,442,000 after acquiring an additional 14,025 shares in the last quarter. Drucker Wealth 3.0 LLC acquired a new position in Xcel Energy during the second quarter worth $265,000. Aberdeen Group plc raised its stake in Xcel Energy by 8.1% during the second quarter. Aberdeen Group plc now owns 210,696 shares of the company's stock worth $14,348,000 after acquiring an additional 15,847 shares in the last quarter. Finally, Eastern Bank raised its stake in Xcel Energy by 9.3% during the second quarter. Eastern Bank now owns 6,524 shares of the company's stock worth $444,000 after acquiring an additional 556 shares in the last quarter. 78.38% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Bank of America increased their price objective on Xcel Energy from $78.00 to $84.00 and gave the stock a "buy" rating in a research note on Thursday, September 25th. Weiss Ratings reiterated a "hold (c+)" rating on shares of Xcel Energy in a research note on Wednesday, October 8th. Jefferies Financial Group increased their price objective on Xcel Energy from $84.00 to $92.00 and gave the stock a "buy" rating in a research note on Thursday. BMO Capital Markets increased their target price on Xcel Energy from $84.00 to $87.00 and gave the stock an "outperform" rating in a report on Wednesday. Finally, KeyCorp increased their target price on Xcel Energy from $79.00 to $85.00 and gave the stock an "overweight" rating in a report on Wednesday. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $84.92.

Xcel Energy Price Performance

Shares of XEL stock opened at $81.16 on Friday. The stock's fifty day moving average is $75.40 and its 200-day moving average is $71.69. The company has a debt-to-equity ratio of 1.48, a quick ratio of 0.85 and a current ratio of 0.96. The stock has a market capitalization of $48.00 billion, a PE ratio of 22.48, a PEG ratio of 2.86 and a beta of 0.37. Xcel Energy Inc. has a 52 week low of $62.58 and a 52 week high of $83.01.

Xcel Energy (NASDAQ:XEL - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.09. The business had revenue of $3.29 billion for the quarter, compared to analysts' expectations of $3.31 billion. Xcel Energy had a return on equity of 10.52% and a net margin of 14.85%.The firm's quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.54 earnings per share. Xcel Energy has set its FY 2025 guidance at 3.750-3.850 EPS. Equities research analysts expect that Xcel Energy Inc. will post 3.82 EPS for the current fiscal year.

Xcel Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, October 20th. Investors of record on Monday, September 15th will be issued a $0.57 dividend. The ex-dividend date is Monday, September 15th. This represents a $2.28 annualized dividend and a yield of 2.8%. Xcel Energy's dividend payout ratio (DPR) is currently 63.16%.

Xcel Energy Company Profile

Xcel Energy Inc, through its subsidiaries, engages in the generation, purchasing, transmission, distribution, and sale of electricity. It operates through Regulated Electric Utility, Regulated Natural Gas Utility, and All Other segments. The company generates electricity through wind, nuclear, hydroelectric, biomass, and solar energy sources, as well as coal, natural gas, oil, wood, and refuse-derived fuels.

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