HighMark Wealth Management LLC Increases Stock Position in Xcel Energy Inc. $XEL

Key Points

• HighMark Wealth Management LLC increased its position in Xcel Energy Inc. by 73.8% in the second quarter, now holding 12,865 shares valued at $876,000.
• Xcel Energy recently reported a quarterly earnings per share of $0.75, exceeding analysts' expectations of $0.66 and marking an 8.6% revenue increase compared to the previous year.
• The company announced a quarterly dividend of $0.57 per share, resulting in an annualized dividend yield of 2.9% for shareholders.

HighMark Wealth Management LLC lifted its holdings in shares of Xcel Energy Inc. (NASDAQ:XEL - Free Report) by 73.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,865 shares of the company's stock after purchasing an additional 5,462 shares during the period. HighMark Wealth Management LLC's holdings in Xcel Energy were worth $876,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC increased its position in Xcel Energy by 18.3% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 472,344 shares of the company's stock worth $33,437,000 after buying an additional 73,036 shares in the last quarter. Navellier & Associates Inc. purchased a new stake in Xcel Energy during the 1st quarter worth about $2,735,000. J.W. Cole Advisors Inc. acquired a new position in Xcel Energy in the 1st quarter valued at about $905,000. Financial Gravity Asset Management Inc. purchased a new position in Xcel Energy in the 1st quarter valued at about $329,000. Finally, Pinnacle Financial Partners Inc purchased a new position in Xcel Energy in the 1st quarter valued at about $267,000. 78.38% of the stock is currently owned by institutional investors and hedge funds.

Xcel Energy Trading Down 0.9%

XEL stock opened at $79.60 on Friday. The company has a quick ratio of 0.85, a current ratio of 0.96 and a debt-to-equity ratio of 1.48. The company has a market cap of $47.08 billion, a price-to-earnings ratio of 22.05, a PEG ratio of 2.70 and a beta of 0.37. The business has a fifty day simple moving average of $73.62 and a 200-day simple moving average of $70.81. Xcel Energy Inc. has a 52 week low of $62.12 and a 52 week high of $81.15.

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, beating analysts' consensus estimates of $0.66 by $0.09. Xcel Energy had a return on equity of 10.52% and a net margin of 14.85%.The firm had revenue of $3.29 billion for the quarter, compared to analysts' expectations of $3.31 billion. During the same quarter last year, the firm earned $0.54 earnings per share. The firm's revenue for the quarter was up 8.6% compared to the same quarter last year. Xcel Energy has set its FY 2025 guidance at 3.750-3.850 EPS. On average, equities research analysts expect that Xcel Energy Inc. will post 3.82 EPS for the current year.

Xcel Energy Dividend Announcement

The company also recently announced 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 is Monday, September 15th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.9%. Xcel Energy's payout ratio is presently 63.16%.

Wall Street Analyst Weigh In

XEL has been the subject of a number of recent research reports. Bank of America lifted their price target on shares of Xcel Energy from $78.00 to $84.00 and gave the stock a "buy" rating in a report on Thursday, September 25th. Barclays lifted their target price on shares of Xcel Energy from $72.00 to $81.00 and gave the stock an "overweight" rating in a research note on Monday. UBS Group set a $82.00 price target on Xcel Energy in a research note on Thursday, September 25th. Mizuho set a $83.00 price objective on Xcel Energy in a report on Thursday, September 25th. Finally, BMO Capital Markets set a $84.00 target price on Xcel Energy in a research note on Thursday, September 25th. Nine equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $80.36.

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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