SCP Investment LP Takes Position in Xcel Energy Inc. (NASDAQ:XEL)

Key Points

• SCP Investment LP acquired 8,800 shares of Xcel Energy Inc., totaling approximately $623,000, during the 1st quarter, making it the firm's 28th largest position.
• Several hedge funds have modified their holdings in Xcel Energy, with PNC Financial Services raising its position by 2.1% and Jefferies Financial increasing its stake significantly by 615% during the same quarter.
• Xcel Energy has declared a quarterly dividend of $0.57 per share for shareholders of record on September 15, representing an annualized yield of 3.1% and a payout ratio of 63.16%.

SCP Investment LP bought a new position in shares of Xcel Energy Inc. (NASDAQ:XEL - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 8,800 shares of the company's stock, valued at approximately $623,000. Xcel Energy accounts for about 0.5% of SCP Investment LP's investment portfolio, making the stock its 28th biggest position.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Bank of America Corp DE increased its stake in Xcel Energy by 43.6% in the fourth quarter. Bank of America Corp DE now owns 20,762,745 shares of the company's stock valued at $1,401,901,000 after acquiring an additional 6,306,380 shares during the last quarter. FMR LLC raised its holdings in shares of Xcel Energy by 118.3% during the 4th quarter. FMR LLC now owns 6,608,044 shares of the company's stock worth $446,175,000 after buying an additional 3,581,436 shares in the last quarter. Invesco Ltd. lifted its position in shares of Xcel Energy by 9.7% during the 4th quarter. Invesco Ltd. now owns 5,678,448 shares of the company's stock worth $383,409,000 after buying an additional 504,143 shares during the last quarter. Northern Trust Corp boosted its stake in Xcel Energy by 11.1% in the fourth quarter. Northern Trust Corp now owns 5,639,107 shares of the company's stock valued at $380,753,000 after buying an additional 561,478 shares in the last quarter. Finally, Janus Henderson Group PLC grew its position in Xcel Energy by 379.3% in the fourth quarter. Janus Henderson Group PLC now owns 4,022,085 shares of the company's stock valued at $271,578,000 after acquiring an additional 3,182,939 shares during the last quarter. 78.38% of the stock is currently owned by institutional investors and hedge funds.

Xcel Energy Trading Down 0.3%

NASDAQ XEL traded down $0.19 during mid-day trading on Thursday, reaching $73.11. 468,783 shares of the stock were exchanged, compared to its average volume of 3,636,558. Xcel Energy Inc. has a one year low of $57.24 and a one year high of $74.57. The company has a debt-to-equity ratio of 1.48, a current ratio of 0.96 and a quick ratio of 0.85. The stock has a 50 day simple moving average of $69.44 and a 200-day simple moving average of $69.30. The stock has a market cap of $43.24 billion, a P/E ratio of 20.27, a P/E/G ratio of 2.48 and a beta of 0.34.

Xcel Energy (NASDAQ:XEL - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The company reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.09. Xcel Energy had a net margin of 14.85% and a return on equity of 10.52%. The firm had revenue of $3.29 billion during the quarter, compared to the consensus estimate of $3.31 billion. During the same period in the previous year, the firm posted $0.54 earnings per share. The business's revenue was up 8.6% compared to the same quarter last year. On average, analysts anticipate that Xcel Energy Inc. will post 3.82 EPS for the current year.

Xcel Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 20th. Shareholders of record on Monday, September 15th will be paid a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date is Monday, September 15th. Xcel Energy's payout ratio is 63.16%.

Wall Street Analyst Weigh In

XEL has been the subject of a number of research reports. Mizuho increased their target price on shares of Xcel Energy from $74.00 to $78.00 and gave the stock an "outperform" rating in a report on Friday, August 1st. Morgan Stanley decreased their target price on shares of Xcel Energy from $78.00 to $77.00 and set an "equal weight" rating on the stock in a research note on Wednesday, June 18th. Barclays increased their price target on Xcel Energy from $72.00 to $73.00 and gave the company an "overweight" rating in a research note on Tuesday, April 22nd. BMO Capital Markets boosted their price objective on Xcel Energy from $69.00 to $73.00 and gave the stock a "market perform" rating in a research report on Wednesday, April 23rd. Finally, Wells Fargo & Company set a $78.00 target price on Xcel Energy and gave the company an "overweight" rating in a research report on Friday, April 25th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $76.00.

Xcel Energy Company Profile

Xcel Energy Inc, through its subsidiaries, engages in the generation, purchasing, transmission, distribution, and sale of electricity. It operates through Regulated Electric Utility, Regulated Natural Gas Utility, and All Other segments. The company generates electricity through wind, nuclear, hydroelectric, biomass, and solar energy sources, as well as coal, natural gas, oil, wood, and refuse-derived fuels.