Nordea Investment Management AB Purchases 299,484 Shares of Xcel Energy Inc. $XEL

Key Points

• Nordea Investment Management AB increased its stake in Xcel Energy Inc. by 10.3% during the second quarter, acquiring an additional 299,484 shares to bring its total holdings to approximately 3.2 million shares.
• Xcel Energy reported earnings of $0.75 per share for the last quarter, exceeding estimates of $0.66, with revenue of $3.29 billion, slightly below the expected $3.31 billion.
• The company recently declared a quarterly dividend of $0.57 per share, which equates to an annualized dividend yield of 2.8%.

Nordea Investment Management AB raised its position in shares of Xcel Energy Inc. (NASDAQ:XEL - Free Report) by 10.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,211,081 shares of the company's stock after acquiring an additional 299,484 shares during the period. Nordea Investment Management AB owned approximately 0.56% of Xcel Energy worth $216,042,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. LCM Capital Management Inc lifted its stake in shares of Xcel Energy by 4.3% in the second quarter. LCM Capital Management Inc now owns 3,572 shares of the company's stock valued at $243,000 after buying an additional 147 shares during the period. Blair William & Co. IL lifted its stake in shares of Xcel Energy by 0.4% in the second quarter. Blair William & Co. IL now owns 38,183 shares of the company's stock valued at $2,600,000 after buying an additional 151 shares during the period. LRI Investments LLC lifted its stake in shares of Xcel Energy by 8.7% in the second quarter. LRI Investments LLC now owns 2,068 shares of the company's stock valued at $141,000 after buying an additional 165 shares during the period. Conning Inc. lifted its stake in shares of Xcel Energy by 4.1% in the first quarter. Conning Inc. now owns 4,400 shares of the company's stock valued at $311,000 after buying an additional 172 shares during the period. Finally, Mutual Advisors LLC lifted its stake in shares of Xcel Energy by 5.8% in the second quarter. Mutual Advisors LLC now owns 3,114 shares of the company's stock valued at $226,000 after buying an additional 172 shares during the period. 78.38% of the stock is currently owned by institutional investors.

Xcel Energy Stock Performance

NASDAQ XEL opened at $81.16 on Friday. The firm has a market cap of $48.00 billion, a price-to-earnings ratio of 22.48, a PEG ratio of 2.86 and a beta of 0.37. The company has a 50 day moving average of $75.40 and a 200-day moving average of $71.68. The company has a current ratio of 0.96, a quick ratio of 0.85 and a debt-to-equity ratio of 1.48. Xcel Energy Inc. has a 1-year low of $62.58 and a 1-year high of $83.01.

Xcel Energy (NASDAQ:XEL - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The company reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.09. Xcel Energy had a net margin of 14.85% and a return on equity of 10.52%. The company had revenue of $3.29 billion during the quarter, compared to analyst estimates of $3.31 billion. During the same quarter last year, the business posted $0.54 earnings per share. The company's revenue was up 8.6% on a year-over-year basis. Xcel Energy has set its FY 2025 guidance at 3.750-3.850 EPS. On average, equities analysts forecast that Xcel Energy Inc. will post 3.82 earnings per share for the current fiscal year.

Xcel Energy Dividend Announcement

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 paid a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend is Monday, September 15th. Xcel Energy's dividend payout ratio is 63.16%.

Analyst Ratings Changes

Several research firms recently weighed in on XEL. Evercore ISI began coverage on shares of Xcel Energy in a research note on Monday, October 6th. They issued an "outperform" rating and a $92.00 target price for the company. Morgan Stanley reduced their target price on shares of Xcel Energy from $81.00 to $80.00 and set an "equal weight" rating for the company in a research note on Thursday, September 25th. BMO Capital Markets increased their target price on shares of Xcel Energy from $84.00 to $87.00 and gave the company an "outperform" rating in a research note on Wednesday. Cowen initiated coverage on shares of Xcel Energy in a research report on Wednesday. They issued a "buy" rating for the company. Finally, Bank of America increased their price target on shares of Xcel Energy from $78.00 to $84.00 and gave the stock a "buy" rating in a research report on Thursday, September 25th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, Xcel Energy presently has an average rating of "Moderate Buy" and a consensus target price of $84.92.

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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