Squarepoint Ops LLC Has $64.21 Million Stake in Xcel Energy Inc. $XEL

Key Points

• Squarepoint Ops more than doubled its Xcel Energy stake in the second quarter, increasing holdings by 113.5% to 799,666 shares valued at $64.21 million. Institutional investors collectively own 78.38% of Xcel Energy.
• Xcel Energy reported quarterly earnings of $0.93 per share, beating analyst expectations of $0.79, though revenue fell 5.1% year over year to $3.12 billion. Analysts expect full-year EPS of $4.11.
• The company declared a quarterly dividend of $0.5925 per share, equal to an annualized $2.37 and a 3.1% yield. Wall Street maintains a consensus “Buy” rating with an average price target of $92.41, above the stock’s $76.88 opening price.

Squarepoint Ops LLC lifted its stake in Xcel Energy Inc. (NASDAQ:XEL - Free Report) by 113.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 799,666 shares of the company's stock after purchasing an additional 425,202 shares during the quarter. Squarepoint Ops LLC owned 0.13% of Xcel Energy worth $64,213,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in XEL. BlackRock Inc. purchased a new stake in Xcel Energy in the 2nd quarter worth approximately $4,890,136,000. California State Teachers Retirement System grew its holdings in shares of Xcel Energy by 8,419.7% during the 2nd quarter. California State Teachers Retirement System now owns 58,315,466 shares of the company's stock valued at $4,682,732,000 after acquiring an additional 57,630,988 shares in the last quarter. State Street Corp grew its holdings in shares of Xcel Energy by 1.2% during the 4th quarter. State Street Corp now owns 36,340,645 shares of the company's stock valued at $2,704,534,000 after acquiring an additional 444,092 shares in the last quarter. Bank of America Corp DE increased its stake in shares of Xcel Energy by 1.7% in the second quarter. Bank of America Corp DE now owns 29,933,748 shares of the company's stock worth $2,403,680,000 after acquiring an additional 491,937 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in shares of Xcel Energy by 16.9% in the fourth quarter. JPMorgan Chase & Co. now owns 24,572,438 shares of the company's stock worth $1,814,920,000 after acquiring an additional 3,546,423 shares during the last quarter. 78.38% of the stock is owned by hedge funds and other institutional investors.

Xcel Energy Stock Up 1.5%

XEL stock opened at $76.88 on Wednesday. The firm has a market cap of $48.02 billion, a PE ratio of 21.06, a PEG ratio of 2.56 and a beta of 0.39. Xcel Energy Inc. has a 1 year low of $71.29 and a 1 year high of $84.23. The company has a fifty day simple moving average of $78.55 and a 200 day simple moving average of $79.59. The company has a current ratio of 0.70, a quick ratio of 0.62 and a debt-to-equity ratio of 1.49.

Xcel Energy (NASDAQ:XEL - Get Free Report) last posted its earnings results on Wednesday, July 29th. The company reported $0.93 EPS for the quarter, topping the consensus estimate of $0.79 by $0.14. Xcel Energy had a net margin of 15.28% and a return on equity of 10.65%. The firm had revenue of $3.12 billion for the quarter, compared to the consensus estimate of $3.54 billion. During the same period in the prior year, the business posted $1.59 earnings per share. The business's quarterly revenue was down 5.1% on a year-over-year basis. Sell-side analysts anticipate that Xcel Energy Inc. will post 4.11 EPS for the current fiscal year.

Xcel Energy Announces Dividend

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 issued a dividend of $0.5925 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $2.37 dividend on an annualized basis and a dividend yield of 3.1%. Xcel Energy's dividend payout ratio is currently 64.93%.

Wall Street Analysts Forecast Growth

XEL has been the subject of several recent research reports. Mizuho set a $92.00 price objective on Xcel Energy in a report on Friday, July 31st. BMO Capital Markets dropped their target price 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. KeyCorp reaffirmed an "overweight" rating on shares of Xcel Energy in a research report on Monday, June 8th. New Street Research set a $91.00 price target on Xcel Energy in a research note on Tuesday, June 23rd. Finally, Truist Financial reduced their price target on Xcel Energy from $94.00 to $88.00 and set a "buy" rating for the company in a report on Thursday, August 13th. Two investment 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 MarketBeat, Xcel Energy currently has an average rating of "Buy" and a consensus price target 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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