Quantbot Technologies LP Invests $6.10 Million in Xcel Energy Inc. $XEL

Key Points

• Quantbot Technologies LP initiated a $6.10 million position in Xcel Energy by purchasing 75,920 shares during the second quarter. Institutional investors and hedge funds collectively own 78.38% of the company.
• Analysts maintain a favorable outlook, with Xcel receiving a consensus “Buy” rating and an average price target of $92.41, above its reported opening price of $76.30.
• Xcel reported quarterly EPS of $0.93, beating estimates of $0.79, although revenue fell 5.1% year over year. The company also announced a quarterly dividend of $0.5925 per share, representing a 3.1% annualized yield.

Quantbot Technologies LP bought a new stake in shares of Xcel Energy Inc. (NASDAQ:XEL - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 75,920 shares of the company's stock, valued at approximately $6,096,000.

Several other large investors have also recently made changes to their positions in XEL. Evolve Private Wealth LLC purchased a new stake in Xcel Energy during the second quarter worth $384,000. Madison Wealth Partners Inc acquired a new stake in Xcel Energy during the second quarter valued at $230,000. Westpac Banking Corp purchased a new position in Xcel Energy in the second quarter valued at $1,566,000. Sumitomo Life Insurance Co. purchased a new position in Xcel Energy in the second quarter valued at $469,000. Finally, Korea Investment CORP purchased a new position in Xcel Energy in the second quarter valued at $26,956,000. 78.38% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on XEL. Jefferies Financial Group set a $101.00 target price on shares of Xcel Energy in a research note on Tuesday, July 7th. Morgan Stanley cut their price target on Xcel Energy from $92.00 to $89.00 and set an "equal weight" rating for the company in a research note on Friday. New Street Research set a $91.00 price target on Xcel Energy in a report on Tuesday, June 23rd. BMO Capital Markets lowered their price target on Xcel Energy from $95.00 to $92.00 and set an "outperform" rating on the stock in a research report on Wednesday, July 22nd. Finally, Evercore reissued an "outperform" rating and issued a $96.00 price objective on shares of Xcel Energy in a report on Monday, May 4th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, Xcel Energy has a consensus rating of "Buy" and an average price target of $92.41.

Xcel Energy Trading Down 3.1%

XEL stock opened at $76.30 on Friday. Xcel Energy Inc. has a 12-month low of $71.29 and a 12-month high of $84.23. The business's 50-day moving average is $79.35 and its 200 day moving average is $79.70. 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 $47.66 billion, a price-to-earnings ratio of 20.90, a PEG ratio of 1.98 and a beta of 0.39.

Xcel Energy (NASDAQ:XEL - Get Free Report) last announced 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. The business had revenue of $3.12 billion during the quarter, compared to analysts' expectations of $3.54 billion. Xcel Energy had a return on equity of 10.65% and a net margin of 15.28%.The business's revenue was down 5.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.59 earnings per share. On average, sell-side analysts anticipate that Xcel Energy Inc. will post 4.12 EPS for the current fiscal year.

Xcel Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 20th. Investors of record on Tuesday, September 15th will be paid a $0.5925 dividend. This represents a $2.37 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend is Tuesday, September 15th. Xcel Energy's dividend payout ratio is currently 64.93%.

Xcel Energy Profile

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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