Mirae Asset Global Investments Co. Ltd. Raises Position in Xcel Energy Inc. $XEL

Key Points

• Mirae Asset Global Investments increased its stake in Xcel Energy by 26.4%, owning approximately 0.06% of the company worth $22.45 million after acquiring an additional 68,827 shares.
• Xcel Energy reported earnings of $0.75 per share for the last quarter, exceeding analysts' expectations, with revenue growth of 8.6% year-over-year.
• The company recently declared a quarterly dividend of $0.57 per share, with an annualized yield of 2.8%, and a dividend payout ratio of 63.16%.

Mirae Asset Global Investments Co. Ltd. lifted its stake in Xcel Energy Inc. (NASDAQ:XEL - Free Report) by 26.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 329,584 shares of the company's stock after buying an additional 68,827 shares during the period. Mirae Asset Global Investments Co. Ltd. owned approximately 0.06% of Xcel Energy worth $22,445,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of Xcel Energy by 1.3% in the first quarter. Vanguard Group Inc. now owns 74,818,158 shares of the company's stock worth $5,296,377,000 after buying an additional 986,170 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of Xcel Energy by 31.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 25,809,978 shares of the company's stock worth $1,827,090,000 after acquiring an additional 6,109,190 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Xcel Energy by 7.9% in the first quarter. JPMorgan Chase & Co. now owns 20,811,241 shares of the company's stock worth $1,473,228,000 after acquiring an additional 1,520,092 shares in the last quarter. Northern Trust Corp lifted its stake in shares of Xcel Energy by 5.8% in the first quarter. Northern Trust Corp now owns 5,967,952 shares of the company's stock worth $422,471,000 after acquiring an additional 328,845 shares in the last quarter. Finally, Invesco Ltd. lifted its stake in shares of Xcel Energy by 0.6% in the first quarter. Invesco Ltd. now owns 5,711,917 shares of the company's stock worth $404,347,000 after acquiring an additional 33,469 shares in the last quarter. Hedge funds and other institutional investors own 78.38% of the company's stock.

Xcel Energy Trading Up 0.8%

Shares of NASDAQ XEL opened at $80.26 on Friday. The stock's 50 day moving average price is $73.77 and its two-hundred day moving average price is $70.88. Xcel Energy Inc. has a 52-week low of $62.12 and a 52-week high of $81.15. The stock has a market capitalization of $47.47 billion, a P/E ratio of 22.23, a PEG ratio of 2.68 and a beta of 0.37. The company has a quick ratio of 0.85, a current ratio of 0.96 and a debt-to-equity ratio of 1.48.

Xcel Energy (NASDAQ:XEL - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The company reported $0.75 earnings per share for the quarter, topping analysts' consensus estimates of $0.66 by $0.09. The business 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 business's quarterly revenue was up 8.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.54 EPS. Xcel Energy has set its FY 2025 guidance at 3.750-3.850 EPS. On average, analysts anticipate that Xcel Energy Inc. will post 3.82 earnings per share for the current fiscal year.

Xcel Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, October 20th. Stockholders of record on Monday, September 15th will be given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date is Monday, September 15th. Xcel Energy's dividend payout ratio is presently 63.16%.

Wall Street Analyst Weigh In

XEL has been the topic of several recent analyst reports. BMO Capital Markets set a $84.00 price target on Xcel Energy in a research note on Thursday, September 25th. 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 target on Xcel Energy in a research note on Thursday, September 25th. Bank of America boosted their price target on Xcel Energy from $78.00 to $84.00 and gave the stock a "buy" rating in a research note on Thursday, September 25th. Finally, Morgan Stanley cut their price objective on Xcel Energy from $81.00 to $80.00 and set an "equal weight" rating on the stock in a research note on Thursday, September 25th. Nine research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average 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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