Daiichi Life Insurance Co. Ltd. Makes New Investment in Xcel Energy Inc. $XEL

Key Points

• Daiichi Life Insurance initiated a position in Xcel Energy during the second quarter, purchasing 23,671 shares valued at approximately $1.9 million. Institutional investors collectively own 78.38% of the company.
• Xcel Energy exceeded quarterly EPS expectations, reporting $0.93 versus the $0.79 consensus estimate, although revenue fell 5.1% year over year to $3.12 billion.
• The company declared a quarterly dividend of $0.5925 per share, representing an annualized dividend of $2.37 and a 3.1% yield. Analysts maintain a consensus “Buy” rating with a target price of $92.41.

Daiichi Life Insurance Co. Ltd. bought a new position in shares of Xcel Energy Inc. (NASDAQ:XEL - Free Report) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 23,671 shares of the company's stock, valued at approximately $1,901,000.

Several other hedge funds have also modified their holdings of the stock. Commerce Bank acquired a new position in Xcel Energy during the 2nd quarter worth $12,671,000. GQG Partners LLC acquired a new stake in shares of Xcel Energy in the 2nd quarter valued at $891,688,000. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Xcel Energy in the 2nd quarter valued at $6,649,000. Quantbot Technologies LP bought a new stake in shares of Xcel Energy during the second quarter worth $6,096,000. Finally, Evolve Private Wealth LLC acquired a new position in shares of Xcel Energy during the second quarter valued at $384,000. 78.38% of the stock is owned by institutional investors.

Xcel Energy Stock Performance

NASDAQ XEL opened at $76.30 on Monday. Xcel Energy Inc. has a 12 month low of $71.29 and a 12 month high of $84.23. The stock has a 50-day simple moving average of $79.35 and a 200 day simple moving average of $79.73. 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 company has a market capitalization of $47.66 billion, a PE ratio of 20.90, a P/E/G ratio of 1.98 and a beta of 0.39.

Xcel Energy (NASDAQ:XEL - Get Free Report) last issued its earnings results on Wednesday, July 29th. The company reported $0.93 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.79 by $0.14. The firm had revenue of $3.12 billion for the quarter, compared to analysts' expectations of $3.54 billion. Xcel Energy had a return on equity of 10.65% and a net margin of 15.28%.The company's revenue was down 5.1% compared to the same quarter last year. During the same quarter last year, the business earned $1.59 earnings per share. Research analysts forecast that Xcel Energy Inc. will post 4.12 EPS for the current year.

Xcel Energy Announces Dividend

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

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Wall Street Zen cut Xcel Energy from a "hold" rating to a "sell" rating in a report on Saturday, May 9th. Weiss Ratings restated a "buy (b-)" rating on shares of Xcel Energy in a research report on Wednesday, June 17th. Evercore reaffirmed an "outperform" rating and issued a $96.00 target price on shares of Xcel Energy in a research note on Monday, May 4th. KeyCorp reiterated an "overweight" rating on shares of Xcel Energy in a research report on Monday, June 8th. Finally, Truist Financial cut their price objective on shares of Xcel Energy from $94.00 to $88.00 and set a "buy" rating on the stock in a report on Thursday, August 13th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, Xcel Energy has an average rating of "Buy" and a consensus target price of $92.41.

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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