OneDigital Investment Advisors LLC Takes $1.14 Million Position in Xcel Energy Inc. $XEL

Key Points

• OneDigital Investment Advisors acquired 14,189 shares of Xcel Energy worth approximately $1.14 million during the second quarter. Institutional investors collectively own 78.38% of Xcel’s outstanding shares.
• Analysts remain broadly positive, with a consensus “Buy” rating and average price target of $92.41, compared with Xcel’s opening price of $79.21.
• Xcel reported quarterly EPS of $0.93, beating estimates of $0.79, although revenue fell 5.1% year over year to $3.12 billion. The company also declared a quarterly dividend of $0.5925 per share, representing a 3.0% annualized yield.

OneDigital Investment Advisors LLC bought a new position in shares of Xcel Energy Inc. (NASDAQ:XEL - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 14,189 shares of the company's stock, valued at approximately $1,139,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Brighton Jones LLC acquired a new stake in shares of Xcel Energy during the fourth quarter worth $240,000. Empowered Funds LLC increased its stake in Xcel Energy by 30.7% in the first quarter. Empowered Funds LLC now owns 13,810 shares of the company's stock valued at $978,000 after purchasing an additional 3,242 shares during the last quarter. Woodline Partners LP increased its stake in Xcel Energy by 40.7% in the first quarter. Woodline Partners LP now owns 48,515 shares of the company's stock valued at $3,434,000 after purchasing an additional 14,029 shares during the last quarter. Brown Advisory Inc. lifted its position in Xcel Energy by 4.8% during the second quarter. Brown Advisory Inc. now owns 10,193 shares of the company's stock worth $694,000 after buying an additional 469 shares during the period. Finally, Cary Street Partners Financial LLC lifted its position in Xcel Energy by 16.0% during the second quarter. Cary Street Partners Financial LLC now owns 2,620 shares of the company's stock worth $178,000 after buying an additional 362 shares during the period. 78.38% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Barclays increased their price target on shares of Xcel Energy from $87.00 to $90.00 and gave the stock an "overweight" rating in a research note on Thursday, July 9th. Evercore restated an "outperform" rating and set a $96.00 price objective on shares of Xcel Energy in a report on Monday, May 4th. Morgan Stanley set a $89.00 target price on Xcel Energy in a research report on Wednesday, June 24th. Wall Street Zen cut Xcel Energy from a "hold" rating to a "sell" rating in a report on Saturday, May 9th. Finally, Truist Financial lowered their price target on Xcel Energy from $94.00 to $88.00 and set a "buy" rating for the company in a research report on Thursday. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Xcel Energy has a consensus rating of "Buy" and an average price target of $92.41.

Xcel Energy Trading Up 0.1%

NASDAQ XEL opened at $79.21 on Tuesday. The company's fifty day simple moving average is $79.35 and its 200-day simple moving average is $79.66. Xcel Energy Inc. has a 52 week low of $71.29 and a 52 week high of $84.23. The company has a current ratio of 0.70, a quick ratio of 0.62 and a debt-to-equity ratio of 1.49. The stock has a market cap of $49.48 billion, a P/E ratio of 21.70, a PEG ratio of 2.06 and a beta of 0.39.

Xcel Energy (NASDAQ:XEL - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The company reported $0.93 earnings per share for the quarter, beating analysts' consensus estimates of $0.79 by $0.14. The company had revenue of $3.12 billion during the quarter, compared to analysts' expectations of $3.54 billion. Xcel Energy had a net margin of 15.28% and a return on equity of 10.65%. The firm's revenue for the quarter was down 5.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.59 EPS. Equities research analysts predict that Xcel Energy Inc. will post 4.11 EPS 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 issued 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 3.0%. Xcel Energy's payout ratio is currently 64.93%.

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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