HITE Hedge Asset Management LLC Has $123.25 Million Stake in Xcel Energy Inc. $XEL

Key Points

• HITE Hedge Asset Management increased its Xcel Energy stake by 42.7% in the fourth quarter, buying 499,170 more shares to bring its total holding to 1,668,743 shares worth about $123.25 million.
• Xcel Energy reported quarterly EPS of $0.91, matching analyst expectations, while revenue came in at $4.02 billion versus the $4.21 billion consensus estimate.
• The company announced a quarterly dividend of $0.5925 per share, implying an annualized payout of $2.37 and a 3.0% yield; analysts currently rate the stock a Buy on average with a $90.63 price target.

HITE Hedge Asset Management LLC raised its holdings in shares of Xcel Energy Inc. (NASDAQ:XEL - Free Report) by 42.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,668,743 shares of the company's stock after purchasing an additional 499,170 shares during the quarter. Xcel Energy accounts for approximately 7.9% of HITE Hedge Asset Management LLC's portfolio, making the stock its 2nd largest position. HITE Hedge Asset Management LLC owned about 0.28% of Xcel Energy worth $123,253,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Y Intercept Hong Kong Ltd grew its stake in shares of Xcel Energy by 174.6% in the 4th quarter. Y Intercept Hong Kong Ltd now owns 65,978 shares of the company's stock worth $4,873,000 after acquiring an additional 41,948 shares in the last quarter. Cohen & Steers Inc. grew its stake in shares of Xcel Energy by 3.2% in the 4th quarter. Cohen & Steers Inc. now owns 1,138,406 shares of the company's stock worth $84,083,000 after acquiring an additional 35,010 shares in the last quarter. Wealthspire Advisors LLC grew its stake in shares of Xcel Energy by 64.3% in the 4th quarter. Wealthspire Advisors LLC now owns 5,575 shares of the company's stock worth $412,000 after acquiring an additional 2,181 shares in the last quarter. Teilinger Capital Ltd. grew its stake in shares of Xcel Energy by 73.2% in the 4th quarter. Teilinger Capital Ltd. now owns 355,000 shares of the company's stock worth $26,220,000 after acquiring an additional 150,000 shares in the last quarter. Finally, Quadrant Capital Group LLC grew its stake in shares of Xcel Energy by 3.2% in the 4th quarter. Quadrant Capital Group LLC now owns 7,596 shares of the company's stock worth $561,000 after acquiring an additional 238 shares in the last quarter. Institutional investors own 78.38% of the company's stock.

Xcel Energy Trading Up 1.2%

Shares of Xcel Energy stock opened at $79.22 on Friday. Xcel Energy Inc. has a 12-month low of $65.21 and a 12-month high of $84.23. The company has a market cap of $49.45 billion, a price-to-earnings ratio of 22.83, a PEG ratio of 2.03 and a beta of 0.39. The company has a current ratio of 0.77, a quick ratio of 0.68 and a debt-to-equity ratio of 1.45. The company's 50-day moving average price is $79.74 and its 200-day moving average price is $78.44.

Xcel Energy (NASDAQ:XEL - Get Free Report) last issued its quarterly earnings data on Wednesday, April 29th. The company reported $0.91 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.91. Xcel Energy had a return on equity of 10.37% and a net margin of 14.14%.The company had revenue of $4.02 billion for the quarter, compared to the consensus estimate of $4.21 billion. During the same quarter last year, the business posted $0.84 earnings per share. The firm's revenue was up 2.9% compared to the same quarter last year. On average, equities analysts expect that Xcel Energy Inc. will post 4.11 earnings per share for the current fiscal year.

Xcel Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 20th. Investors of record on Monday, June 15th will be given a $0.5925 dividend. This represents a $2.37 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date is Monday, June 15th. Xcel Energy's dividend payout ratio (DPR) is 68.30%.

Analyst Ratings Changes

Several analysts have recently issued reports on XEL shares. Evercore reiterated an "outperform" rating and issued a $96.00 target price on shares of Xcel Energy in a research note on Monday, May 4th. JPMorgan Chase & Co. reduced their target price on shares of Xcel Energy from $94.00 to $91.00 and set an "overweight" rating for the company in a research note on Thursday, May 14th. Truist Financial reduced their target price on shares of Xcel Energy from $95.00 to $92.00 and set a "buy" rating for the company in a research note on Monday, May 18th. UBS Group upped their target price on shares of Xcel Energy from $89.00 to $91.00 and gave the stock a "buy" rating in a research note on Monday, April 20th. Finally, KeyCorp reiterated an "overweight" rating on shares of Xcel Energy in a research note on Monday. Three analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Xcel Energy has an average rating of "Buy" and an average price target of $90.63.

Xcel Energy 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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