Xcel Energy Inc. $XEL Position Boosted by Oliver Luxxe Assets LLC

Key Points

• Oliver Luxxe Assets increased its Xcel Energy stake by 25.2% in the second quarter, holding 95,287 shares valued at approximately $7.65 million. Institutional investors collectively own 78.38% of the company.
• Xcel Energy reported quarterly EPS of $0.93, beating the $0.79 consensus estimate, although 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, equivalent to an annualized $2.37 payout and a 3.0% yield. Analysts maintain a consensus “Buy” rating with an average price target of $92.76, versus a recent share price of $78.07.

Oliver Luxxe Assets LLC boosted its holdings in Xcel Energy Inc. (NASDAQ:XEL - Free Report) by 25.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 95,287 shares of the company's stock after acquiring an additional 19,196 shares during the quarter. Xcel Energy accounts for 1.1% of Oliver Luxxe Assets LLC's portfolio, making the stock its 29th largest position. Oliver Luxxe Assets LLC's holdings in Xcel Energy were worth $7,652,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Evolution Wealth Management Inc. increased its holdings in shares of Xcel Energy by 365.3% during the first quarter. Evolution Wealth Management Inc. now owns 349 shares of the company's stock valued at $28,000 after purchasing an additional 274 shares during the period. Garton & Associates Financial Advisors LLC bought a new stake in shares of Xcel Energy during the fourth quarter valued at about $30,000. Pittenger & Anderson Inc. lifted its holdings in Xcel Energy by 73.8% in the fourth quarter. Pittenger & Anderson Inc. now owns 471 shares of the company's stock worth $35,000 after purchasing an additional 200 shares during the period. Cedar Mountain Advisors LLC acquired a new stake in Xcel Energy in the first quarter worth about $39,000. Finally, Measured Wealth Private Client Group LLC bought a new position in Xcel Energy in the 3rd quarter valued at about $42,000. Institutional investors own 78.38% of the company's stock.

Xcel Energy Trading Up 1.4%

Shares of NASDAQ XEL opened at $78.07 on Friday. The company has a quick ratio of 0.62, a current ratio of 0.70 and a debt-to-equity ratio of 1.49. Xcel Energy Inc. has a 12 month low of $69.16 and a 12 month high of $84.23. The company has a market cap of $48.76 billion, a price-to-earnings ratio of 21.39, a P/E/G ratio of 2.03 and a beta of 0.39. The business has a fifty day simple moving average of $79.26 and a 200-day simple moving average of $79.52.

Xcel Energy (NASDAQ:XEL - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The company reported $0.93 earnings per share for the quarter, topping analysts' consensus estimates of $0.79 by $0.14. The firm 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%.Xcel Energy's revenue was down 5.1% on a year-over-year basis. During the same quarter last year, the business posted $1.59 EPS. Sell-side analysts predict that Xcel Energy Inc. will post 4.11 EPS for the current year.

Xcel Energy Dividend Announcement

The company also recently declared 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 is Tuesday, September 15th. This represents a $2.37 dividend on an annualized basis and a dividend yield of 3.0%. Xcel Energy's payout ratio is currently 64.93%.

Wall Street Analyst Weigh In

A number of research firms have commented on XEL. Evercore restated an "outperform" rating and set a $96.00 price target on shares of Xcel Energy in a research report on Monday, May 4th. Jefferies Financial Group set a $101.00 price objective on shares of Xcel Energy in a report on Tuesday, July 7th. BTIG Research restated a "buy" rating and issued a $99.00 price objective on shares of Xcel Energy in a report on Friday, July 31st. Truist Financial raised their target price on Xcel Energy from $92.00 to $94.00 and gave the company a "buy" rating in a research note on Thursday, July 16th. Finally, Wall Street Zen cut shares of Xcel Energy from a "hold" rating to a "sell" rating in a research report on Saturday, May 9th. Two analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $92.76.

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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