Engineers Gate Manager LP Buys Shares of 98,303 Xcel Energy Inc. $XEL

Key Points

• Engineers Gate Manager LP purchased 98,303 shares of Xcel Energy worth approximately $7.9 million during the second quarter. Institutional investors and hedge funds collectively own 78.38% of the company.
• Xcel Energy reported quarterly EPS of $0.93, beating estimates of $0.79, although revenue of $3.12 billion declined 5.1% year over year and fell short of expectations.
• The company declared a quarterly dividend of $0.5925, equivalent to an annualized $2.37 payout and a 3.1% yield. Analysts maintain a consensus “Buy” rating with an average price target of $92.41.

Engineers Gate Manager LP purchased 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 and Exchange Commission (SEC). The institutional investor purchased 98,303 shares of the company's stock, valued at approximately $7,894,000.

Several other hedge funds have also made changes to their positions in XEL. Quadrant Capital Group LLC grew its holdings in shares of Xcel Energy by 1.7% in the third quarter. Quadrant Capital Group LLC now owns 7,358 shares of the company's stock valued at $593,000 after purchasing an additional 125 shares in the last quarter. Bleakley Financial Group LLC lifted its holdings in Xcel Energy by 0.5% during the 4th quarter. Bleakley Financial Group LLC now owns 28,949 shares of the company's stock worth $2,138,000 after buying an additional 131 shares in the last quarter. Hills Bank & Trust Co lifted its holdings in Xcel Energy by 2.2% during the 4th quarter. Hills Bank & Trust Co now owns 6,184 shares of the company's stock worth $457,000 after buying an additional 133 shares in the last quarter. Keel Point LLC boosted its position in Xcel Energy by 2.6% in the 4th quarter. Keel Point LLC now owns 5,485 shares of the company's stock valued at $405,000 after buying an additional 137 shares during the period. Finally, KCM Investment Advisors LLC boosted its position in Xcel Energy by 1.9% in the 1st quarter. KCM Investment Advisors LLC now owns 7,549 shares of the company's stock valued at $600,000 after buying an additional 140 shares during the period. Institutional investors and hedge funds own 78.38% of the company's stock.

Xcel Energy Price Performance

Shares of NASDAQ XEL opened at $75.41 on Friday. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.62 and a current ratio of 0.70. Xcel Energy Inc. has a fifty-two week low of $71.35 and a fifty-two week high of $84.23. The firm has a market capitalization of $47.10 billion, a PE ratio of 20.66, a price-to-earnings-growth ratio of 2.58 and a beta of 0.39. The stock's 50-day simple moving average is $78.35 and its 200-day simple moving average is $79.51.

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 (EPS) for the quarter, beating analysts' consensus estimates of $0.79 by $0.14. The firm had revenue of $3.12 billion during the quarter, compared to the consensus estimate of $3.54 billion. Xcel Energy had a return on equity of 10.65% and a net margin of 15.28%.The firm's quarterly revenue was down 5.1% compared to the same quarter last year. During the same period in the prior year, the company posted $1.59 earnings per share. As a group, equities research analysts forecast that Xcel Energy Inc. will post 4.11 EPS for the current fiscal year.

Xcel Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 20th. Stockholders of record on Tuesday, September 15th will be issued 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 is presently 64.93%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on XEL. Morgan Stanley cut their price objective on Xcel Energy from $92.00 to $89.00 and set an "equal weight" rating on the stock in a research report on Friday, August 21st. New Street Research set a $91.00 target price on Xcel Energy in a research note on Tuesday, June 23rd. Mizuho set a $92.00 price target on Xcel Energy in a research report on Friday, July 31st. Truist Financial decreased their price objective on Xcel Energy from $94.00 to $88.00 and set a "buy" rating for the company in a research note on Thursday, August 13th. Finally, Barclays boosted their price objective on Xcel Energy from $87.00 to $90.00 and gave the stock an "overweight" rating in a research report on Thursday, July 9th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $92.41.

Xcel Energy Company 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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