Sanctuary Advisors LLC Takes $6.85 Million Position in Xcel Energy Inc. $XEL

Key Points

• Sanctuary Advisors LLC acquired 85,314 Xcel Energy shares worth approximately $6.85 million during the second quarter. Institutional investors and hedge funds collectively own 78.38% of the company.
• Xcel Energy reported quarterly EPS of $0.93, exceeding analysts’ $0.79 estimate, while revenue fell 5.1% year over year to $3.12 billion. Shares opened at $77.33, below the average analyst price target of $92.41.
• The company declared a quarterly dividend of $0.5925 per share, equivalent to an annualized $2.37 payout and a 3.1% yield. Analysts maintain a broadly positive view, with a consensus rating of “Buy,” despite some recent price-target reductions.

Sanctuary Advisors LLC acquired a new stake in shares of Xcel Energy Inc. (NASDAQ:XEL - Free Report) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 85,314 shares of the company's stock, valued at approximately $6,851,000.

Several other institutional investors have also bought and sold shares of the stock. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Xcel Energy during the 2nd quarter valued at about $563,000. Meiji Yasuda Asset Management Co Ltd. acquired a new stake in shares of Xcel Energy in the 2nd quarter worth approximately $1,238,000. Magellan Asset Management Ltd acquired a new stake in shares of Xcel Energy in the 2nd quarter worth approximately $226,328,000. Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in shares of Xcel Energy in the 2nd quarter worth approximately $708,086,000. Finally, Bank of Nova Scotia bought a new position in shares of Xcel Energy in the second quarter valued at approximately $15,386,000. Institutional investors and hedge funds own 78.38% of the company's stock.

Xcel Energy Stock Performance

Shares of XEL opened at $77.33 on Tuesday. The firm's 50 day moving average is $79.31 and its 200-day moving average is $79.74. The stock has a market capitalization of $48.30 billion, a P/E ratio of 21.19, a P/E/G ratio of 1.98 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. Xcel Energy Inc. has a 12-month low of $71.29 and a 12-month high of $84.23.

Xcel Energy (NASDAQ:XEL - Get Free Report) last released its 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. Xcel Energy had a net margin of 15.28% and a return on equity of 10.65%. The business had revenue of $3.12 billion for the quarter, compared to the consensus estimate of $3.54 billion. During the same period in the previous year, the firm earned $1.59 EPS. The business's revenue for the quarter was down 5.1% on a year-over-year basis. Equities research analysts anticipate that Xcel Energy Inc. will post 4.12 EPS for the current fiscal year.

Xcel Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 20th. Stockholders of record on Tuesday, September 15th will be given a dividend of $0.5925 per share. This represents a $2.37 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date is Tuesday, September 15th. Xcel Energy's dividend payout ratio is 64.93%.

Analyst Ratings Changes

A number of research analysts recently commented on XEL shares. Truist Financial lowered their price objective 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. Morgan Stanley decreased 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. Mizuho set a $92.00 price target on Xcel Energy in a research report on Friday, July 31st. New Street Research set a $91.00 price objective on Xcel Energy in a research note on Tuesday, June 23rd. Finally, Wall Street Zen downgraded Xcel Energy from a "hold" rating to a "sell" rating in a research note on Saturday, May 9th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Buy" and an average price target of $92.41.

Xcel Energy Company 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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