Neo Ivy Capital Management Invests $2.10 Million in Xcel Energy Inc. (NASDAQ:XEL)

Key Points

• Neo Ivy Capital Management has acquired a new stake in Xcel Energy Inc., purchasing 29,652 shares valued at approximately $2,099,000.
• Xcel Energy recently reported an EPS of $0.84 for the quarter, missing the consensus estimate of $0.95 by $0.11, despite a 7.0% revenue increase compared to the previous year.
• Analysts have mixed ratings on Xcel Energy, with one sell rating, three hold ratings, and seven buy ratings, leading to an average rating of "Moderate Buy" and a price target of $75.80.

Neo Ivy Capital Management purchased a new position in Xcel Energy Inc. (NASDAQ:XEL - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 29,652 shares of the company's stock, valued at approximately $2,099,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Brighton Jones LLC bought a new stake in shares of Xcel Energy in the 4th quarter valued at about $240,000. Fox Run Management L.L.C. acquired a new stake in Xcel Energy in the fourth quarter valued at approximately $306,000. Congress Wealth Management LLC DE boosted its stake in Xcel Energy by 13.6% in the fourth quarter. Congress Wealth Management LLC DE now owns 19,643 shares of the company's stock valued at $1,326,000 after acquiring an additional 2,346 shares in the last quarter. Modern Wealth Management LLC grew its holdings in Xcel Energy by 5.5% in the fourth quarter. Modern Wealth Management LLC now owns 8,277 shares of the company's stock worth $554,000 after purchasing an additional 428 shares during the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. increased its position in shares of 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 worth $1,421,000 after purchasing an additional 200 shares in the last quarter. Institutional investors own 78.38% of the company's stock.

Analyst Ratings Changes

XEL has been the topic of several research analyst reports. 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 note on Wednesday, April 23rd. Evercore ISI upped their price objective on shares of Xcel Energy from $74.00 to $77.00 and gave the company an "outperform" rating in a report on Monday, April 28th. Wells Fargo & Company set a $78.00 target price on shares of Xcel Energy and gave the stock an "overweight" rating in a research note on Friday, April 25th. Wall Street Zen lowered shares of Xcel Energy from a "hold" rating to a "sell" rating in a research note on Tuesday, May 20th. Finally, Barclays lifted their price objective on shares of Xcel Energy from $72.00 to $73.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 22nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $75.80.

Xcel Energy Stock Down 0.2%

NASDAQ:XEL traded down $0.12 during midday trading on Friday, hitting $72.66. 2,760,039 shares of the company were exchanged, compared to its average volume of 2,711,788. The company has a market capitalization of $41.91 billion, a PE ratio of 21.37, a price-to-earnings-growth ratio of 2.45 and a beta of 0.36. The company has a current ratio of 0.80, a quick ratio of 0.70 and a debt-to-equity ratio of 1.48. Xcel Energy Inc. has a fifty-two week low of $56.69 and a fifty-two week high of $73.56. The company has a fifty day simple moving average of $68.99 and a 200 day simple moving average of $68.88.

Xcel Energy (NASDAQ:XEL - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The company reported $0.84 EPS for the quarter, missing analysts' consensus estimates of $0.95 by ($0.11). The firm 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%. Xcel Energy's revenue for the quarter was up 7.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.88 EPS. As a group, equities analysts anticipate that Xcel Energy Inc. will post 3.82 earnings per share for the current fiscal year.

Xcel Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Sunday, July 20th. Investors of record on Friday, June 13th were given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 3.14%. The ex-dividend date was Friday, June 13th. Xcel Energy's dividend payout ratio is presently 67.06%.

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.