Cresset Asset Management LLC Purchases 117,882 Shares of Xcel Energy Inc. $XEL

Key Points

• Cresset Asset Management LLC significantly increased its stake in Xcel Energy Inc. by purchasing 117,882 shares, resulting in a total of 128,618 shares valued at approximately $9.18 million as of the latest reporting period.
• A number of brokerage firms have varying ratings on Xcel Energy, with one downgrade to "sell" and others maintaining or upgrading price targets, leading to an average rating of "Moderate Buy" with a consensus price target of $76.00.
• Xcel Energy's recent earnings report showed an EPS of $0.75, exceeding expectations, and the company announced a quarterly dividend of $0.57 per share, reflecting a yield of 3.2%.

Cresset Asset Management LLC boosted its position in Xcel Energy Inc. (NASDAQ:XEL - Free Report) by 1,098.0% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 128,618 shares of the company's stock after purchasing an additional 117,882 shares during the quarter. Cresset Asset Management LLC's holdings in Xcel Energy were worth $9,178,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in XEL. Accent Capital Management LLC purchased a new stake in Xcel Energy in the first quarter valued at approximately $29,000. BankPlus Trust Department purchased a new stake in Xcel Energy in the first quarter valued at approximately $34,000. Rossby Financial LCC purchased a new stake in Xcel Energy in the first quarter valued at approximately $50,000. Itau Unibanco Holding S.A. purchased a new stake in Xcel Energy in the fourth quarter valued at approximately $52,000. Finally, Alpine Bank Wealth Management purchased a new stake in Xcel Energy in the first quarter valued at approximately $53,000. 78.38% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on XEL. Wall Street Zen lowered Xcel Energy from a "hold" rating to a "sell" rating in a research report on Tuesday, May 20th. BMO Capital Markets upped their price objective on Xcel Energy from $69.00 to $73.00 and gave the stock a "market perform" rating in a research report on Wednesday, April 23rd. Mizuho upped their price objective on Xcel Energy from $74.00 to $78.00 and gave the stock an "outperform" rating in a research report on Friday, August 1st. Wells Fargo & Company set a $78.00 price objective on Xcel Energy and gave the stock an "overweight" rating in a research report on Friday, April 25th. Finally, Morgan Stanley lowered their price objective on Xcel Energy from $78.00 to $77.00 and set an "equal weight" rating on the stock in a research report on Wednesday, June 18th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $76.00.

Xcel Energy Price Performance

XEL stock opened at $71.93 on Monday. The company has a debt-to-equity ratio of 1.48, a current ratio of 0.96 and a quick ratio of 0.85. The firm has a market capitalization of $42.54 billion, a P/E ratio of 19.93, a P/E/G ratio of 2.42 and a beta of 0.34. The business's 50-day moving average is $69.93 and its two-hundred day moving average is $69.62. Xcel Energy Inc. has a 1 year low of $59.04 and a 1 year high of $74.57.

Xcel Energy (NASDAQ:XEL - Get Free Report) last issued its earnings results on Thursday, July 31st. The company reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.09. Xcel Energy had a return on equity of 10.52% and a net margin of 14.85%. The business had revenue of $3.29 billion for the quarter, compared to analyst estimates of $3.31 billion. During the same quarter last year, the company earned $0.54 EPS. The business's quarterly revenue was up 8.6% on a year-over-year basis. Analysts anticipate that Xcel Energy Inc. will post 3.82 earnings per share for the current fiscal year.

Xcel Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, October 20th. Shareholders of record on Monday, September 15th will be given 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 yield of 3.2%. Xcel Energy's payout ratio is 63.16%.

About Xcel Energy

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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