AXQ Capital LP Takes Position in Xcel Energy Inc. $XEL

AXQ Capital LP acquired a new position in Xcel Energy Inc. (NASDAQ:XEL - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 40,329 shares of the company's stock, valued at approximately $3,238,000.

Several other hedge funds have also recently made changes to their positions in the business. Continuum Advisory LLC purchased a new position in shares of Xcel Energy during the 2nd quarter worth about $131,000. Nykredit A S bought a new stake in Xcel Energy during the 2nd quarter valued at $4,444,000. B. Metzler seel. Sohn & Co. AG lifted its stake in Xcel Energy by 7.3% in the second quarter. B. Metzler seel. Sohn & Co. AG now owns 29,270 shares of the company's stock worth $2,350,000 after acquiring an additional 1,985 shares during the period. Symphony Financial Ltd. Co. bought a new position in shares of Xcel Energy during the second quarter valued at approximately $226,000. Finally, Midwest Professional Planners LTD. increased its holdings in shares of Xcel Energy by 13.3% in the 2nd quarter. Midwest Professional Planners LTD. now owns 15,437 shares of the company's stock valued at $1,240,000 after acquiring an additional 1,816 shares during the period. 78.38% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on XEL. Barclays increased their target price on shares of Xcel Energy from $87.00 to $90.00 and gave the company an "overweight" rating in a research report on Thursday, July 9th. Truist Financial cut their price target on Xcel Energy from $94.00 to $88.00 and set a "buy" rating on the stock in a research report on Thursday, August 13th. New Street Research set a $91.00 target price on shares of Xcel Energy in a research note on Tuesday, June 23rd. Jefferies Financial Group set a $101.00 price target on Xcel Energy in a research report on Tuesday, July 7th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Xcel Energy from $91.00 to $102.00 and gave the stock an "overweight" rating in a research note on Thursday, July 16th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $92.41.

Xcel Energy Stock Performance

Shares of Xcel Energy stock opened at $76.34 on Friday. The company has a quick ratio of 0.62, a current ratio of 0.70 and a debt-to-equity ratio of 1.49. The firm has a market cap of $47.68 billion, a PE ratio of 20.92, a price-to-earnings-growth ratio of 2.56 and a beta of 0.39. The business's fifty day simple moving average is $78.88 and its 200-day simple moving average is $79.68. Xcel Energy Inc. has a 52 week low of $71.29 and a 52 week high of $84.23.

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

Xcel Energy Announces Dividend

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

Xcel Energy Company Profile

Xcel Energy NASDAQ: XEL is a Minneapolis-based, publicly traded utility holding company that develops, owns and operates regulated electricity and natural gas delivery systems. The company's core activities include generation, transmission and distribution of electricity, the delivery of natural gas to customers, and related customer service operations. Xcel provides a mix of utility services to residential, commercial and industrial customers and participates in wholesale energy markets where appropriate.

Its generation portfolio combines nuclear, natural gas, coal and a growing share of renewable resources such as wind and solar.

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