Navellier & Associates Inc. Purchases New Shares in Xcel Energy Inc. (NASDAQ:XEL)

Key Points

• Navellier & Associates Inc. has acquired 38,583 shares of Xcel Energy Inc., valued at approximately $2.735 million, marking a significant investment by the firm in the first quarter.
• Xcel Energy's recent earnings report showed an EPS of $0.84, which missed analysts' expectations by $0.11, while revenue increased by 7% year-over-year, totaling $3.91 billion.
• The company's latest quarterly dividend announcement highlights a payment of $0.57 per share, reflecting an annualized yield of 3.14% and a dividend payout ratio of 67.06%.

Navellier & Associates Inc. acquired a new position in Xcel Energy Inc. (NASDAQ:XEL - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 38,583 shares of the company's stock, valued at approximately $2,735,000.

Several other institutional investors and hedge funds have also bought and sold shares of XEL. Brighton Jones LLC bought a new position in Xcel Energy during the 4th quarter valued at approximately $240,000. Fox Run Management L.L.C. bought a new stake in shares of Xcel Energy in the fourth quarter worth $306,000. Congress Wealth Management LLC DE grew its holdings in shares of Xcel Energy by 13.6% in the fourth quarter. Congress Wealth Management LLC DE now owns 19,643 shares of the company's stock worth $1,326,000 after acquiring an additional 2,346 shares during the period. Modern Wealth Management LLC lifted its position in Xcel Energy by 5.5% during the fourth quarter. Modern Wealth Management LLC now owns 8,277 shares of the company's stock valued at $554,000 after purchasing an additional 428 shares in the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. lifted its position in Xcel Energy by 1.0% during the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 21,043 shares of the company's stock valued at $1,421,000 after purchasing an additional 200 shares in the last quarter. Hedge funds and other institutional investors own 78.38% of the company's stock.

Xcel Energy Trading Down 0.2%

Shares of NASDAQ XEL traded down $0.12 during trading on Friday, hitting $72.66. 2,760,039 shares of the company traded hands, compared to its average volume of 2,711,788. Xcel Energy Inc. has a 1 year low of $56.69 and a 1 year high of $73.56. The company has a 50-day moving average price of $68.99 and a 200-day moving average price of $68.87. The firm has a market capitalization of $41.91 billion, a P/E ratio of 21.37, a P/E/G ratio of 2.45 and a beta of 0.36. The company has a quick ratio of 0.70, a current ratio of 0.80 and a debt-to-equity ratio of 1.48.

Xcel Energy (NASDAQ:XEL - Get Free Report) last issued its earnings results on Thursday, April 24th. The company reported $0.84 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.95 by ($0.11). The company had revenue of $3.91 billion during the quarter, compared to analyst estimates of $3.93 billion. Xcel Energy had a net margin of 14.10% and a return on equity of 10.20%. The business's revenue for the quarter was up 7.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.88 EPS. On average, equities analysts predict that Xcel Energy Inc. will post 3.82 EPS for the current year.

Xcel Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, July 20th. Shareholders of record on Friday, June 13th were given a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 3.14%. The ex-dividend date of this dividend was Friday, June 13th. Xcel Energy's dividend payout ratio (DPR) is 67.06%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Morgan Stanley lowered their price objective on Xcel Energy from $78.00 to $77.00 and set an "equal weight" rating on the stock in a research report on Wednesday, June 18th. Barclays boosted their price objective on Xcel Energy from $72.00 to $73.00 and gave the company an "overweight" rating in a research report on Tuesday, April 22nd. Evercore ISI boosted their target price on Xcel Energy from $74.00 to $77.00 and gave the stock an "outperform" rating in a research report on Monday, April 28th. BMO Capital Markets boosted their target price on Xcel Energy from $69.00 to $73.00 and gave the stock a "market perform" rating in a research report on Wednesday, April 23rd. Finally, Wells Fargo & Company set a $78.00 price objective on Xcel Energy and gave the stock an "overweight" rating in a research note on Friday, April 25th. One analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $75.80.

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.