Tidal Investments LLC Boosts Stock Holdings in Xcel Energy Inc. $XEL

Key Points

• Tidal Investments more than doubled its Xcel Energy stake in the second quarter, increasing holdings by 118.3% to 505,096 shares valued at approximately $40.6 million. Institutional investors collectively own 78.38% of XEL.
• Analysts maintain a broadly positive view, with the stock receiving an average “Buy” rating and a consensus price target of $92.41, despite several firms lowering their targets.
• Xcel Energy reported quarterly EPS of $0.93, beating estimates of $0.79, and declared a quarterly dividend of $0.5925 per share, representing a 3.1% annualized yield.

Tidal Investments LLC lifted its position in Xcel Energy Inc. (NASDAQ:XEL - Free Report) by 118.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 505,096 shares of the company's stock after acquiring an additional 273,749 shares during the quarter. Tidal Investments LLC owned approximately 0.08% of Xcel Energy worth $40,559,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. MCF Advisors LLC boosted its stake in shares of Xcel Energy by 125.2% in the 2nd quarter. MCF Advisors LLC now owns 608 shares of the company's stock worth $49,000 after buying an additional 338 shares during the last quarter. National Pension Service grew its holdings in shares of Xcel Energy by 6.3% in the second quarter. National Pension Service now owns 803,504 shares of the company's stock valued at $64,521,000 after acquiring an additional 47,608 shares in the last quarter. WINTON GROUP Ltd purchased a new stake in shares of Xcel Energy during the second quarter valued at approximately $434,000. Engineers Gate Manager LP purchased a new stake in shares of Xcel Energy during the second quarter valued at approximately $7,894,000. Finally, Cidel Asset Management Inc. lifted its holdings in Xcel Energy by 3.3% during the second quarter. Cidel Asset Management Inc. now owns 4,692 shares of the company's stock worth $377,000 after acquiring an additional 149 shares during the period. 78.38% of the stock is owned by institutional investors.

Analyst Ratings Changes

XEL has been the topic of several research analyst reports. BMO Capital Markets cut their price objective 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. Jefferies Financial Group set a $101.00 target price on Xcel Energy in a research report on Tuesday, July 7th. Truist Financial cut their price target on shares of Xcel Energy from $94.00 to $88.00 and set a "buy" rating on the stock in a report on Thursday, August 13th. Mizuho set a $92.00 price target on shares of Xcel Energy in a research report on Friday, July 31st. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Xcel Energy from $91.00 to $102.00 and gave the stock an "overweight" rating in a research report on Thursday, July 16th. 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 data from MarketBeat, the company currently has an average rating of "Buy" and an average price target of $92.41.

Xcel Energy Stock Down 0.9%

Shares of NASDAQ XEL opened at $76.19 on Thursday. The company has a debt-to-equity ratio of 1.49, a current ratio of 0.70 and a quick ratio of 0.62. The stock has a market capitalization of $47.59 billion, a PE ratio of 20.87, a P/E/G ratio of 2.60 and a beta of 0.39. Xcel Energy Inc. has a one year low of $71.35 and a one year high of $84.23. The business's fifty day moving average price is $78.48 and its 200-day moving average price is $79.55.

Xcel Energy (NASDAQ:XEL - Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The company reported $0.93 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.79 by $0.14. The business 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%.The firm's quarterly revenue was down 5.1% compared to the same quarter last year. During the same period in the previous year, the business posted $1.59 EPS. On average, equities research analysts anticipate that Xcel Energy Inc. will post 4.11 EPS for the current year.

Xcel Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 20th. Investors of record on Tuesday, September 15th will be paid 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 presently 64.93%.

Xcel Energy Profile

Xcel Energy Inc is a Minneapolis-based electric and natural gas utility holding company that serves customers across parts of Colorado, Michigan, Minnesota, New Mexico, North Dakota, South Dakota, Texas and Wisconsin. Through its operating companies, Xcel provides electricity generation, transmission and distribution, as well as natural gas distribution and related energy services.

The company operates a diversified generating fleet that includes wind, solar, hydroelectric, nuclear, natural gas and other resources.

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