NEOS Investment Management LLC Purchases 64,002 Shares of Xcel Energy Inc. $XEL

Key Points

• NEOS Investment Management increased its Xcel Energy stake by 15.8% in the second quarter, purchasing 64,002 shares to bring its holdings to 470,337 shares. Institutional investors collectively own 78.38% of Xcel Energy.
• Xcel Energy reported quarterly earnings of $0.93 per share, surpassing the $0.79 analyst consensus, although revenue fell 5.1% year over year to $3.12 billion.
• The company declared a quarterly dividend of $0.5925 per share, equivalent to an annualized $2.37 dividend and a 3.1% yield. Analysts maintain a consensus “Buy” rating with an average price target of $92.41.

NEOS Investment Management LLC lifted its position in Xcel Energy Inc. (NASDAQ:XEL - Free Report) by 15.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 470,337 shares of the company's stock after purchasing an additional 64,002 shares during the period. NEOS Investment Management LLC owned about 0.08% of Xcel Energy worth $37,768,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the company. BlackRock Inc. purchased a new stake in Xcel Energy in the 2nd quarter worth $4,890,136,000. State Street Corp lifted its position in shares of Xcel Energy by 1.2% in the fourth quarter. State Street Corp now owns 36,340,645 shares of the company's stock valued at $2,704,534,000 after acquiring an additional 444,092 shares in the last quarter. Bank of America Corp DE boosted its stake in shares of Xcel Energy by 1.7% in the second quarter. Bank of America Corp DE now owns 29,933,748 shares of the company's stock worth $2,403,680,000 after acquiring an additional 491,937 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Xcel Energy by 16.9% in the fourth quarter. JPMorgan Chase & Co. now owns 24,572,438 shares of the company's stock worth $1,814,920,000 after acquiring an additional 3,546,423 shares during the period. Finally, Geode Capital Management LLC grew its position in shares of Xcel Energy by 0.8% during the fourth quarter. Geode Capital Management LLC now owns 16,496,124 shares of the company's stock worth $1,214,035,000 after purchasing an additional 126,498 shares in the last quarter. 78.38% of the stock is currently owned by institutional investors.

Xcel Energy Stock Performance

NASDAQ:XEL opened at $76.34 on Friday. The company has a debt-to-equity ratio of 1.49, a current ratio of 0.70 and a quick ratio of 0.62. Xcel Energy Inc. has a 1 year low of $71.29 and a 1 year high of $84.23. The stock's 50 day simple moving average is $78.88 and its two-hundred day simple moving average is $79.68. The company has a market cap of $47.68 billion, a price-to-earnings ratio of 20.92, a PEG ratio of 2.56 and a beta of 0.39.

Xcel Energy (NASDAQ:XEL - Get Free Report) last posted its earnings results on Wednesday, July 29th. The company reported $0.93 EPS for the quarter, beating analysts' consensus estimates of $0.79 by $0.14. Xcel Energy had a return on equity of 10.65% and a net margin of 15.28%.The firm had revenue of $3.12 billion during the quarter, compared to the consensus estimate of $3.54 billion. During the same period in the prior year, the company earned $1.59 EPS. The company's quarterly revenue was down 5.1% compared to the same quarter last year. As a group, equities analysts anticipate that Xcel Energy Inc. will post 4.11 earnings per share for the current fiscal year.

Xcel Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 20th. Shareholders of record on Tuesday, September 15th will be given a dividend of $0.5925 per share. The ex-dividend date is Tuesday, September 15th. This represents a $2.37 annualized dividend and a yield of 3.1%. Xcel Energy's dividend payout ratio (DPR) is 64.93%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Wall Street Zen downgraded Xcel Energy from a "hold" rating to a "sell" rating in a research note on Saturday, May 9th. BTIG Research reaffirmed a "buy" rating and set a $99.00 price objective on shares of Xcel Energy in a report on Friday, July 31st. BMO Capital Markets reduced their price objective on shares of Xcel Energy from $95.00 to $92.00 and set an "outperform" rating on the stock in a research report on Wednesday, July 22nd. New Street Research set a $91.00 target price on shares of Xcel Energy in a research report on Tuesday, June 23rd. Finally, JPMorgan Chase & Co. raised their target price on shares of Xcel Energy from $91.00 to $102.00 and gave the company an "overweight" rating in a research note on Thursday, July 16th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, Xcel Energy presently has a consensus rating of "Buy" and an average price target of $92.41.

About Xcel Energy

Xcel Energy NASDAQ: XEL is a Minneapolis-based, publicly traded utility holding company that develops, owns and operates regulated electricity and natural gas delivery systems. The company's core activities include generation, transmission and distribution of electricity, the delivery of natural gas to customers, and related customer service operations. Xcel provides a mix of utility services to residential, commercial and industrial customers and participates in wholesale energy markets where appropriate.

Its generation portfolio combines nuclear, natural gas, coal and a growing share of renewable resources such as wind and solar.

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