Pacer Advisors Inc. Sells 38,037 Shares of Xcel Energy Inc. $XEL

Key Points

• Pacer Advisors reduced its Xcel Energy stake by 37.4% in the first quarter, selling 38,037 shares and retaining 63,764 shares valued at approximately $5.1 million. Institutional investors collectively own 78.38% of Xcel Energy.
• Xcel Energy shares opened at $77.20, down 0.7%, while the company reported quarterly EPS of $0.93, exceeding estimates of $0.79. However, revenue fell 5.1% year over year to $3.12 billion.
• The utility declared a quarterly dividend of $0.5925 per share, equivalent to an annualized $2.37 and a 3.1% yield. Analysts maintain an average “Buy” rating with a $92.76 price target.

Pacer Advisors Inc. decreased its position in shares of Xcel Energy Inc. (NASDAQ:XEL - Free Report) by 37.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 63,764 shares of the company's stock after selling 38,037 shares during the period. Pacer Advisors Inc.'s holdings in Xcel Energy were worth $5,065,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Parallel Advisors LLC increased its stake in shares of Xcel Energy by 9.1% in the first quarter. Parallel Advisors LLC now owns 7,755 shares of the company's stock worth $616,000 after purchasing an additional 650 shares during the period. NewEdge Advisors LLC grew its holdings in Xcel Energy by 13.4% in the 1st quarter. NewEdge Advisors LLC now owns 101,144 shares of the company's stock valued at $8,035,000 after buying an additional 11,918 shares during the last quarter. Optiver Holding B.V. increased its position in Xcel Energy by 55.4% in the 1st quarter. Optiver Holding B.V. now owns 1,664 shares of the company's stock worth $132,000 after buying an additional 593 shares during the period. Glenmede Trust Co. NA lifted its holdings in shares of Xcel Energy by 4.5% during the first quarter. Glenmede Trust Co. NA now owns 61,558 shares of the company's stock worth $4,890,000 after buying an additional 2,652 shares during the last quarter. Finally, Segall Bryant & Hamill LLC acquired a new position in shares of Xcel Energy during the first quarter worth approximately $5,062,000. 78.38% of the stock is currently owned by institutional investors.

Xcel Energy Trading Down 0.7%

Shares of Xcel Energy stock opened at $77.20 on Thursday. Xcel Energy Inc. has a 52-week low of $69.16 and a 52-week high of $84.23. The firm has a market capitalization of $48.22 billion, a PE ratio of 21.15, a price-to-earnings-growth ratio of 2.02 and a beta of 0.39. The company has a debt-to-equity ratio of 1.49, a current ratio of 0.70 and a quick ratio of 0.62. The company's fifty day moving average price is $79.33 and its two-hundred day moving average price is $79.53.

Xcel Energy (NASDAQ:XEL - Get Free Report) last issued its earnings results on Thursday, July 30th. The company reported $0.93 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.14. The business had revenue of $3.12 billion for the quarter, compared to analyst estimates 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 was down 5.1% on a year-over-year basis. During the same period in the previous year, the business earned $1.59 EPS. On average, analysts expect that Xcel Energy Inc. will post 4.11 EPS for the current year.

Xcel Energy Dividend Announcement

The business 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. This represents a $2.37 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend is Tuesday, September 15th. Xcel Energy's payout ratio is presently 64.93%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on XEL. Truist Financial raised their price objective on shares of Xcel Energy from $92.00 to $94.00 and gave the stock a "buy" rating in a research note on Thursday, July 16th. BMO Capital Markets decreased their price target 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. Barclays boosted their price objective on shares of Xcel Energy from $87.00 to $90.00 and gave the stock an "overweight" rating in a report on Thursday, July 9th. Wall Street Zen lowered shares of Xcel Energy from a "hold" rating to a "sell" rating in a research report on Saturday, May 9th. Finally, Mizuho set a $92.00 target price on Xcel Energy in a research report on Friday, July 31st. Two 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 stock. According to data from MarketBeat, the company has an average rating of "Buy" and an average price target of $92.76.

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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