Wedge Capital Management L L P NC Has $15.94 Million Stock Position in Xcel Energy Inc. $XEL

Key Points

• Wedge Capital Management L L P NC increased its stake in Xcel Energy Inc. by 31% in Q2, now holding a total of 233,989 shares valued at approximately $15.9 million.
• Xcel Energy's stock has an average rating of "Moderate Buy" with a consensus target price of $76.80, reflecting positive outlooks from analysts including Mizuho and Morgan Stanley.
• The company recently announced a quarterly dividend of $0.57 per share, yielding about 3.2%, with a payout ratio of 63.16%.

Wedge Capital Management L L P NC raised its position in shares of Xcel Energy Inc. (NASDAQ:XEL - Free Report) by 31.0% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 233,989 shares of the company's stock after buying an additional 55,368 shares during the quarter. Wedge Capital Management L L P NC's holdings in Xcel Energy were worth $15,935,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Marshall & Sullivan Inc. WA acquired a new position in Xcel Energy in the 2nd quarter worth approximately $44,000. Bridge Creek Capital Management LLC lifted its holdings in shares of Xcel Energy by 0.5% in the second quarter. Bridge Creek Capital Management LLC now owns 58,233 shares of the company's stock valued at $3,966,000 after purchasing an additional 261 shares in the last quarter. My Legacy Advisors LLC boosted its position in shares of Xcel Energy by 54.3% in the second quarter. My Legacy Advisors LLC now owns 6,346 shares of the company's stock worth $434,000 after buying an additional 2,233 shares during the period. Viking Fund Management LLC grew its holdings in shares of Xcel Energy by 31.3% during the second quarter. Viking Fund Management LLC now owns 210,000 shares of the company's stock valued at $14,301,000 after buying an additional 50,000 shares in the last quarter. Finally, Miller Howard Investments Inc. NY raised its position in Xcel Energy by 174.5% during the second quarter. Miller Howard Investments Inc. NY now owns 85,542 shares of the company's stock valued at $5,825,000 after buying an additional 54,381 shares during the period. 78.38% of the stock is currently owned by institutional investors and hedge funds.

Xcel Energy Stock Up 0.3%

Xcel Energy stock traded up $0.24 during mid-day trading on Monday, hitting $72.35. 4,129,841 shares of the company's stock were exchanged, compared to its average volume of 3,775,042. Xcel Energy Inc. has a 1-year low of $62.12 and a 1-year high of $74.57. The stock has a 50 day moving average of $72.34 and a two-hundred day moving average of $70.28. The stock has a market cap of $42.79 billion, a P/E ratio of 20.04, a P/E/G ratio of 2.43 and a beta of 0.35. The company has a current ratio of 0.96, a quick ratio of 0.85 and a debt-to-equity ratio of 1.48.

Xcel Energy (NASDAQ:XEL - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The company reported $0.75 EPS for the quarter, beating analysts' consensus estimates of $0.66 by $0.09. Xcel Energy had a return on equity of 10.52% and a net margin of 14.85%.The business had revenue of $3.29 billion for the quarter, compared to analyst estimates of $3.31 billion. During the same quarter in the prior year, the firm posted $0.54 EPS. The firm's revenue for the quarter was up 8.6% on a year-over-year basis. Xcel Energy has set its FY 2025 guidance at 3.750-3.850 EPS. As a group, analysts anticipate that Xcel Energy Inc. will post 3.82 EPS for the current fiscal year.

Xcel Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 20th. Stockholders of record on Monday, September 15th will be paid a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date is Monday, September 15th. Xcel Energy's payout ratio is presently 63.16%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on XEL shares. Mizuho raised their price objective on Xcel Energy from $74.00 to $78.00 and gave the stock an "outperform" rating in a research report on Friday, August 1st. Morgan Stanley restated an "outperform" rating on shares of Xcel Energy in a report on Thursday, August 21st. Finally, BMO Capital Markets upgraded shares of Xcel Energy from a "market perform" rating to an "outperform" rating and upped their price objective for the company from $73.00 to $80.00 in a research note on Monday. Nine research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $77.50.

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.