Assenagon Asset Management S.A. Has $68 Million Stake in Xcel Energy Inc. $XEL

Key Points

• Assenagon Asset Management S.A. has dramatically increased its stake in Xcel Energy Inc. by 5,894.2% during the second quarter, now owning 998,507 shares valued at approximately $67.99 million.
• Analysts have a consensus rating of "Moderate Buy" on Xcel Energy, with a target price of $76.80, following recent price target increases from firms like Mizuho and Morgan Stanley.
• Xcel Energy recently reported earnings of $0.75 per share for the last quarter, surpassing estimates, and also announced a quarterly dividend of $0.57 per share, reflecting a 3.2% yield.

Assenagon Asset Management S.A. increased its position in shares of Xcel Energy Inc. (NASDAQ:XEL - Free Report) by 5,894.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 998,507 shares of the company's stock after acquiring an additional 981,849 shares during the quarter. Assenagon Asset Management S.A. owned about 0.17% of Xcel Energy worth $67,998,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Accent Capital Management LLC bought a new stake in shares of Xcel Energy in the first quarter valued at about $29,000. BankPlus Trust Department acquired a new position in shares of Xcel Energy in the first quarter valued at approximately $34,000. Rise Advisors LLC boosted its holdings in Xcel Energy by 62.9% in the second quarter. Rise Advisors LLC now owns 518 shares of the company's stock valued at $35,000 after acquiring an additional 200 shares during the last quarter. Rossby Financial LCC bought a new position in Xcel Energy during the 1st quarter worth approximately $50,000. Finally, Ransom Advisory Ltd bought a new position in shares of Xcel Energy during the 1st quarter worth approximately $50,000. 78.38% of the stock is currently owned by institutional investors and hedge funds.

Xcel Energy Trading Up 0.5%

Shares of Xcel Energy stock traded up $0.36 on Tuesday, reaching $72.71. The company had a trading volume of 924,906 shares, compared to its average volume of 3,758,912. Xcel Energy Inc. has a 52-week low of $62.12 and a 52-week high of $74.57. The firm's 50 day moving average price is $72.40 and its two-hundred day moving average price is $70.31. The firm has a market cap of $43.00 billion, a PE ratio of 20.14, a PEG ratio of 2.43 and a beta of 0.35. The company has a debt-to-equity ratio of 1.48, a quick ratio of 0.85 and a current ratio of 0.96.

Xcel Energy (NASDAQ:XEL - Get Free Report) last released its earnings results on Thursday, July 31st. The company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.66 by $0.09. The company had revenue of $3.29 billion during the quarter, compared to analysts' expectations of $3.31 billion. Xcel Energy had a net margin of 14.85% and a return on equity of 10.52%. The business's revenue was up 8.6% on a year-over-year basis. During the same quarter last year, the business earned $0.54 EPS. Xcel Energy has set its FY 2025 guidance at 3.750-3.850 EPS. Sell-side analysts predict that Xcel Energy Inc. will post 3.82 earnings per share 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. Stockholders of record on Monday, September 15th will be issued a dividend of $0.57 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $2.28 annualized dividend and a dividend yield of 3.1%. Xcel Energy's payout ratio is 63.16%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on XEL shares. Morgan Stanley reissued an "outperform" rating on shares of Xcel Energy in a report on Thursday, August 21st. BMO Capital Markets raised Xcel Energy from a "market perform" rating to an "outperform" rating and raised their price objective for the company from $73.00 to $80.00 in a report on Monday. Finally, Mizuho lifted their price target on Xcel Energy from $74.00 to $78.00 and gave the company an "outperform" rating in a research report on Friday, August 1st. Nine research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $77.50.

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.