JPMorgan Chase & Co. Buys 1,520,092 Shares of Xcel Energy Inc. (NASDAQ:XEL)

Key Points

• JPMorgan Chase & Co. has increased its stake in Xcel Energy Inc. by 7.9%, now owning approximately 3.61% of the company, valued at $1.47 billion.
• Several analysts have raised their price targets for Xcel Energy, with current average estimates around $76.00 and a consensus rating of "Moderate Buy".
• Xcel Energy recently announced a quarterly dividend of $0.57 per share, representing a 3.1% yield, with a payout ratio of approximately 63.16%.

JPMorgan Chase & Co. increased its stake in Xcel Energy Inc. (NASDAQ:XEL - Free Report) by 7.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 20,811,241 shares of the company's stock after acquiring an additional 1,520,092 shares during the period. JPMorgan Chase & Co. owned about 3.61% of Xcel Energy worth $1,473,228,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Accent Capital Management LLC bought a new stake in shares of Xcel Energy in the 1st quarter valued at about $29,000. BankPlus Trust Department bought a new stake in shares of Xcel Energy in the 1st quarter valued at about $34,000. Rossby Financial LCC bought a new stake in shares of Xcel Energy in the 1st quarter valued at about $50,000. Alpine Bank Wealth Management purchased a new position in Xcel Energy during the 1st quarter valued at about $53,000. Finally, Itau Unibanco Holding S.A. bought a new position in Xcel Energy during the 4th quarter valued at approximately $52,000. Institutional investors own 78.38% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on XEL shares. Barclays upped their price target on Xcel Energy from $72.00 to $73.00 and gave the company an "overweight" rating in a research report on Tuesday, April 22nd. Wall Street Zen lowered Xcel Energy from a "hold" rating to a "sell" rating in a research report on Tuesday, May 20th. BMO Capital Markets upped their price target on Xcel Energy from $69.00 to $73.00 and gave the company a "market perform" rating in a research report on Wednesday, April 23rd. Mizuho upped their price target on Xcel Energy from $74.00 to $78.00 and gave the company an "outperform" rating in a research report on Friday, August 1st. Finally, Evercore ISI upped their price target on Xcel Energy from $74.00 to $77.00 and gave the company an "outperform" rating in a research report on Monday, April 28th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $76.00.

Xcel Energy Price Performance

NASDAQ XEL opened at $73.33 on Friday. The business's fifty day moving average price is $69.57 and its 200-day moving average price is $69.40. The stock has a market capitalization of $43.37 billion, a price-to-earnings ratio of 20.31, a PEG ratio of 2.47 and a beta of 0.34. The company has a debt-to-equity ratio of 1.48, a current ratio of 0.96 and a quick ratio of 0.85. Xcel Energy Inc. has a 1-year low of $57.24 and a 1-year high of $74.57.

Xcel Energy (NASDAQ:XEL - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The company reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.09. The firm had revenue of $3.29 billion for the quarter, compared to analysts' expectations of $3.31 billion. Xcel Energy had a return on equity of 10.52% and a net margin of 14.85%. The company's revenue was up 8.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.54 EPS. On average, equities analysts predict that Xcel Energy Inc. will post 3.82 earnings per share for the current year.

Xcel Energy Announces Dividend

The company also recently declared 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. This represents a $2.28 annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend is Monday, September 15th. Xcel Energy's dividend payout ratio is presently 63.16%.

Xcel Energy Profile

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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