Rakuten Investment Management Inc. Has $12.33 Million Stock Position in Xcel Energy Inc. $XEL

Key Points

• Rakuten Investment Management reduced its Xcel Energy position by 35.8% in the second quarter, selling 83,988 shares and retaining 150,401 shares valued at approximately $12.33 million. Institutional investors collectively own 78.38% of Xcel Energy.
• Xcel Energy reported quarterly EPS of $0.93, beating estimates of $0.79, although revenue fell 5.1% year over year to $3.12 billion. Analysts expect full-year EPS of $4.12.
• The company declared a quarterly dividend of $0.5925, equivalent to $2.37 annually and a 3.1% yield. Wall Street maintains an average “Buy” rating with a consensus price target of $92.41, above the reported share price of $76.45.

Rakuten Investment Management Inc. reduced its holdings in shares of Xcel Energy Inc. (NASDAQ:XEL - Free Report) by 35.8% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 150,401 shares of the company's stock after selling 83,988 shares during the quarter. Rakuten Investment Management Inc.'s holdings in Xcel Energy were worth $12,330,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Glenview Trust Co bought a new position in Xcel Energy in the second quarter valued at $397,000. Empowered Funds LLC increased its stake in Xcel Energy by 5.9% in the 2nd quarter. Empowered Funds LLC now owns 31,850 shares of the company's stock valued at $2,558,000 after buying an additional 1,782 shares during the last quarter. United Capital Financial Advisors LLC lifted its position in Xcel Energy by 2.1% during the 2nd quarter. United Capital Financial Advisors LLC now owns 19,330 shares of the company's stock worth $1,552,000 after buying an additional 406 shares in the last quarter. Dearborn Partners LLC bought a new stake in Xcel Energy during the 2nd quarter worth about $871,000. Finally, Equitable Holdings Inc. boosted its stake in shares of Xcel Energy by 8.2% during the 2nd quarter. Equitable Holdings Inc. now owns 7,379 shares of the company's stock worth $592,000 after buying an additional 561 shares during the last quarter. 78.38% of the stock is currently owned by institutional investors and hedge funds.

Xcel Energy Stock Performance

XEL opened at $76.45 on Friday. The firm has a market cap of $47.75 billion, a P/E ratio of 20.95, a price-to-earnings-growth ratio of 2.00 and a beta of 0.39. Xcel Energy Inc. has a 52-week low of $71.29 and a 52-week high of $84.23. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.62 and a current ratio of 0.70. The business's fifty day moving average is $79.25 and its 200-day moving average is $79.75.

Xcel Energy (NASDAQ:XEL - Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The company reported $0.93 EPS for the quarter, topping analysts' consensus estimates of $0.79 by $0.14. The company had revenue of $3.12 billion for 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%.Xcel Energy's revenue was down 5.1% on a year-over-year basis. During the same quarter last year, the business earned $1.59 earnings per share. Sell-side analysts expect that Xcel Energy Inc. will post 4.12 EPS for the current fiscal year.

Xcel Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 20th. Shareholders of record on Tuesday, September 15th will be issued 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 (DPR) is currently 64.93%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on XEL. Morgan Stanley lowered their target price on Xcel Energy from $92.00 to $89.00 and set an "equal weight" rating on the stock in a research report on Friday, August 21st. Barclays raised their price objective on Xcel Energy from $87.00 to $90.00 and gave the company an "overweight" rating in a research report on Thursday, July 9th. Truist Financial decreased their price target on shares of Xcel Energy from $94.00 to $88.00 and set a "buy" rating on the stock in a research note on Thursday, August 13th. Jefferies Financial Group set a $101.00 price objective on Xcel Energy in a research report on Tuesday, July 7th. Finally, Weiss Ratings reissued a "buy (b-)" rating on shares of Xcel Energy in a report on Wednesday, June 17th. 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 company's stock. According to data from MarketBeat.com, Xcel Energy presently has an average rating of "Buy" and an average target price of $92.41.

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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