Pallas Capital Advisors LLC Buys New Shares in Xcel Energy Inc. $XEL

Key Points

• Pallas Capital Advisors purchased 26,038 shares of Xcel Energy during the second quarter, worth approximately $2.1 million. Institutional investors and hedge funds collectively own 78.38% of the company.
• Xcel Energy reported quarterly earnings of $0.93 per share, exceeding estimates of $0.79, but revenue fell 5.1% year over year to $3.12 billion. Shares recently traded near $79.21, within a 12-month range of $71.29 to $84.23.
• The company declared a quarterly dividend of $0.5925 per share, equivalent to an annualized $2.37 payout and a 3.0% yield. Analysts maintain a consensus “Buy” rating with an average price target of $92.41.

Pallas Capital Advisors LLC bought a new position in shares of Xcel Energy Inc. (NASDAQ:XEL - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 26,038 shares of the company's stock, valued at approximately $2,091,000.

A number of other hedge funds have also recently added to or reduced their stakes in XEL. Quadrant Capital Group LLC lifted its holdings in shares of Xcel Energy by 1.7% during the 3rd quarter. Quadrant Capital Group LLC now owns 7,358 shares of the company's stock worth $593,000 after acquiring an additional 125 shares during the period. Bleakley Financial Group LLC grew its holdings in Xcel Energy by 0.5% in the fourth quarter. Bleakley Financial Group LLC now owns 28,949 shares of the company's stock valued at $2,138,000 after purchasing an additional 131 shares during the period. Hills Bank & Trust Co increased its position in Xcel Energy by 2.2% during the fourth quarter. Hills Bank & Trust Co now owns 6,184 shares of the company's stock worth $457,000 after purchasing an additional 133 shares during the last quarter. Keel Point LLC increased its position in Xcel Energy by 2.6% during the fourth quarter. Keel Point LLC now owns 5,485 shares of the company's stock worth $405,000 after purchasing an additional 137 shares during the last quarter. Finally, KCM Investment Advisors LLC raised its stake in Xcel Energy by 1.9% during the first quarter. KCM Investment Advisors LLC now owns 7,549 shares of the company's stock worth $600,000 after purchasing an additional 140 shares during the period. 78.38% of the stock is owned by institutional investors and hedge funds.

Xcel Energy Stock Up 0.1%

Shares of Xcel Energy stock opened at $79.21 on Tuesday. Xcel Energy Inc. has a twelve month low of $71.29 and a twelve month high of $84.23. The stock has a market cap of $49.48 billion, a price-to-earnings ratio of 21.70, a price-to-earnings-growth ratio of 2.06 and a beta of 0.39. 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 company has a fifty day moving average price of $79.35 and a 200 day moving average price of $79.66.

Xcel Energy (NASDAQ:XEL - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The company reported $0.93 EPS for the quarter, beating the consensus estimate of $0.79 by $0.14. Xcel Energy had a return on equity of 10.65% and a net margin of 15.28%.The company had revenue of $3.12 billion for the quarter, compared to analyst estimates of $3.54 billion. During the same period last year, the company posted $1.59 earnings per share. The firm's revenue was down 5.1% compared to the same quarter last year. Equities research analysts forecast that Xcel Energy Inc. will post 4.11 earnings per share for the current fiscal year.

Xcel Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 20th. Investors of record on Tuesday, September 15th will be given a dividend of $0.5925 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $2.37 annualized dividend and a yield of 3.0%. Xcel Energy's payout ratio is 64.93%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Truist Financial lowered their price objective on shares of Xcel Energy from $94.00 to $88.00 and set a "buy" rating for the company in a research note on Thursday. BMO Capital Markets lowered their price target on Xcel Energy from $95.00 to $92.00 and set an "outperform" rating for the company in a research report on Wednesday, July 22nd. Evercore reissued an "outperform" rating and set a $96.00 price target on shares of Xcel Energy in a research report on Monday, May 4th. Jefferies Financial Group set a $101.00 price target on Xcel Energy in a research note on Tuesday, July 7th. Finally, Mizuho set a $92.00 price objective on Xcel Energy in a 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 assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price 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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