Arizona State Retirement System Increases Stake in Xcel Energy Inc. $XEL

Arizona State Retirement System raised its position in Xcel Energy Inc. (NASDAQ:XEL - Free Report) by 11.3% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 178,955 shares of the company's stock after acquiring an additional 18,220 shares during the quarter. Arizona State Retirement System's holdings in Xcel Energy were worth $14,370,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in XEL. Bank of New York Mellon Corp purchased a new position in Xcel Energy during the 2nd quarter worth approximately $280,187,000. Jupiter Topco LLC purchased a new position in Xcel Energy during the 2nd quarter worth $94,211,000. Cbre Investment Management Listed Real Assets LLC lifted its position in Xcel Energy by 18.1% in the fourth quarter. Cbre Investment Management Listed Real Assets LLC now owns 2,324,667 shares of the company's stock valued at $171,700,000 after purchasing an additional 356,208 shares during the period. Electron Capital Partners LLC lifted its holdings in shares of Xcel Energy by 15.2% in the 4th quarter. Electron Capital Partners LLC now owns 1,936,695 shares of the company's stock valued at $143,044,000 after buying an additional 255,884 shares during the period. Finally, Reaves W H & Co. Inc. boosted its position in shares of Xcel Energy by 13.1% during the 4th quarter. Reaves W H & Co. Inc. now owns 3,579,918 shares of the company's stock worth $264,413,000 after purchasing an additional 415,759 shares in the last quarter. 78.38% of the stock is owned by institutional investors and hedge funds.

Xcel Energy Trading Down 0.9%

NASDAQ XEL opened at $76.19 on Thursday. The company's fifty day simple moving average is $78.48 and its 200-day simple moving average is $79.55. Xcel Energy Inc. has a 52 week low of $71.35 and a 52 week high of $84.23. The company has a current ratio of 0.70, a quick ratio of 0.62 and a debt-to-equity ratio of 1.49. The stock has a market cap of $47.59 billion, a P/E ratio of 20.87, a PEG ratio of 2.60 and a beta of 0.39.

Xcel Energy (NASDAQ:XEL - Get Free Report) last announced its earnings results on Wednesday, July 29th. The company reported $0.93 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.14. Xcel Energy had a return on equity of 10.65% and a net margin of 15.28%.The company had revenue of $3.12 billion during the quarter, compared to the consensus estimate of $3.54 billion. During the same period last year, the firm earned $1.59 earnings per share. The company's revenue was down 5.1% on a year-over-year basis. Equities research analysts predict that Xcel Energy Inc. will post 4.11 EPS for the current fiscal year.

Xcel Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 20th. Stockholders of record on Tuesday, September 15th will be given a $0.5925 dividend. The ex-dividend date is Tuesday, September 15th. This represents a $2.37 annualized dividend and a dividend yield of 3.1%. Xcel Energy's dividend payout ratio (DPR) is presently 64.93%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Truist Financial decreased their price target on Xcel Energy from $94.00 to $88.00 and set a "buy" rating on the stock in a research note on Thursday, August 13th. JPMorgan Chase & Co. lifted their price target on shares of Xcel Energy from $91.00 to $102.00 and gave the stock an "overweight" rating in a report on Thursday, July 16th. KeyCorp reiterated an "overweight" rating on shares of Xcel Energy in a research note on Monday, June 8th. Morgan Stanley cut their price target on shares of Xcel Energy from $92.00 to $89.00 and set an "equal weight" rating on the stock in a research note on Friday, August 21st. Finally, Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Xcel Energy in a research note on Wednesday, June 17th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $92.41.

Xcel Energy Profile

Xcel Energy Inc is a Minneapolis-based electric and natural gas utility holding company that serves customers across parts of Colorado, Michigan, Minnesota, New Mexico, North Dakota, South Dakota, Texas and Wisconsin. Through its operating companies, Xcel provides electricity generation, transmission and distribution, as well as natural gas distribution and related energy services.

The company operates a diversified generating fleet that includes wind, solar, hydroelectric, nuclear, natural gas and other resources.

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