Integrated Wealth Concepts LLC Sells 20,005 Shares of Xcel Energy Inc. $XEL

Key Points

• Integrated Wealth Concepts LLC reduced its Xcel Energy stake by 45.7% in the second quarter, selling 20,005 shares and retaining 23,795 shares worth approximately $1.91 million. Institutional investors collectively own 78.38% of the company.
• Xcel Energy reported quarterly EPS of $0.93, exceeding the $0.79 analyst consensus, although revenue declined 5.1% year over year to $3.12 billion. Shares opened at $72.49, near the company’s 52-week low.
• The utility declared a quarterly dividend of $0.5925 per share, equivalent to an annualized $2.37 and a 3.3% yield. Analysts maintain a consensus “Buy” rating with an average price target of $92.41.

Integrated Wealth Concepts LLC cut its holdings in shares of Xcel Energy Inc. (NASDAQ:XEL - Free Report) by 45.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 23,795 shares of the company's stock after selling 20,005 shares during the period. Integrated Wealth Concepts LLC's holdings in Xcel Energy were worth $1,911,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in shares of Xcel Energy during the second quarter worth $4,890,136,000. Bank of America Corp DE raised its position in Xcel Energy by 1.7% during the 2nd quarter. Bank of America Corp DE now owns 29,933,748 shares of the company's stock worth $2,403,680,000 after purchasing an additional 491,937 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in Xcel Energy by 16.9% during the 4th quarter. JPMorgan Chase & Co. now owns 24,572,438 shares of the company's stock worth $1,814,920,000 after buying an additional 3,546,423 shares during the period. Geode Capital Management LLC grew its position in shares of Xcel Energy by 0.8% in the 4th quarter. Geode Capital Management LLC now owns 16,496,124 shares of the company's stock valued at $1,214,035,000 after buying an additional 126,498 shares during the last quarter. Finally, GQG Partners LLC bought a new stake in shares of Xcel Energy in the 2nd quarter valued at about $891,688,000. 78.38% of the stock is owned by institutional investors.

Xcel Energy Stock Performance

XEL opened at $72.49 on Wednesday. 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's fifty day moving average price is $77.93 and its two-hundred day moving average price is $79.31. Xcel Energy Inc. has a 1-year low of $71.35 and a 1-year high of $84.23. The company has a market cap of $45.28 billion, a price-to-earnings ratio of 19.86, a PEG ratio of 2.51 and a beta of 0.39.

Xcel Energy (NASDAQ:XEL - Get Free Report) last issued its quarterly earnings data 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. Xcel Energy had a net margin of 15.28% and a return on equity of 10.65%. The firm had revenue of $3.12 billion during the quarter, compared to analysts' expectations of $3.54 billion. During the same period last year, the company earned $1.59 earnings per share. The business's revenue was down 5.1% on a year-over-year basis. On average, analysts expect that Xcel Energy Inc. will post 4.12 EPS for the current fiscal year.

Xcel Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 20th. Shareholders of record on Tuesday, September 15th will be issued a dividend of $0.5925 per share. This represents a $2.37 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend is Tuesday, September 15th. Xcel Energy's payout ratio is currently 64.93%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. BMO Capital Markets lowered their price objective on Xcel Energy from $95.00 to $92.00 and set an "outperform" rating for the company in a research report on Wednesday, July 22nd. Mizuho set a $92.00 target price on Xcel Energy in a report on Friday, July 31st. Truist Financial decreased their target price on shares of Xcel Energy from $94.00 to $88.00 and set a "buy" rating for the company in a research report on Thursday, August 13th. KeyCorp restated an "overweight" rating on shares of Xcel Energy in a research report on Monday, June 8th. Finally, Barclays boosted their price target on shares of Xcel Energy from $87.00 to $90.00 and gave the stock an "overweight" rating in a research report on Thursday, July 9th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $92.41.

About Xcel Energy

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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