Xcel Energy Inc. $XEL Shares Bought by Spirit of America Management Corp NY

Key Points

• Spirit of America Management Corp NY increased its holdings in Xcel Energy Inc. by 27.1% in the 2nd quarter, now owning 16,900 shares valued at approximately $1.15 million.
• Several major institutional investors, including Price T Rowe Associates Inc. and Assenagon Asset Management S.A., significantly increased their stakes, raising the total institutional ownership to 78.38%.
• Analysts have set an average price target of $84.92 for Xcel Energy, with ratings ranging from "Strong Buy" to "Hold", following recent upward adjustments by multiple firms.

Spirit of America Management Corp NY boosted its holdings in Xcel Energy Inc. (NASDAQ:XEL - Free Report) by 27.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,900 shares of the company's stock after purchasing an additional 3,600 shares during the quarter. Spirit of America Management Corp NY's holdings in Xcel Energy were worth $1,151,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in XEL. Price T Rowe Associates Inc. MD increased its stake in Xcel Energy by 31.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 25,809,978 shares of the company's stock valued at $1,827,090,000 after purchasing an additional 6,109,190 shares during the last quarter. Nuveen LLC acquired a new stake in Xcel Energy during the first quarter worth about $155,510,000. JPMorgan Chase & Co. increased its stake in Xcel Energy by 7.9% during the first quarter. JPMorgan Chase & Co. now owns 20,811,241 shares of the company's stock worth $1,473,228,000 after acquiring an additional 1,520,092 shares during the last quarter. Vanguard Group Inc. increased its stake in Xcel Energy by 1.3% during the first quarter. Vanguard Group Inc. now owns 74,818,158 shares of the company's stock worth $5,296,377,000 after acquiring an additional 986,170 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its stake in Xcel Energy by 5,894.2% during the second quarter. Assenagon Asset Management S.A. now owns 998,507 shares of the company's stock worth $67,998,000 after acquiring an additional 981,849 shares during the last quarter. 78.38% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have commented on XEL shares. Evercore ISI began coverage on Xcel Energy in a research note on Monday, October 6th. They set an "outperform" rating and a $92.00 price target for the company. Barclays increased their price target on Xcel Energy from $72.00 to $81.00 and gave the company an "overweight" rating in a report on Monday, September 29th. Jefferies Financial Group increased their price target on Xcel Energy from $84.00 to $92.00 and gave the company a "buy" rating in a report on Thursday. Mizuho set a $83.00 target price on Xcel Energy in a report on Thursday, September 25th. Finally, KeyCorp increased their target price on Xcel Energy from $79.00 to $85.00 and gave the stock an "overweight" rating in a report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $84.92.

Xcel Energy Stock Up 0.1%

Shares of Xcel Energy stock opened at $81.16 on Friday. Xcel Energy Inc. has a twelve month low of $62.58 and a twelve month high of $83.01. The company has a current ratio of 0.96, a quick ratio of 0.85 and a debt-to-equity ratio of 1.48. The stock has a market capitalization of $48.00 billion, a price-to-earnings ratio of 22.48, a PEG ratio of 2.86 and a beta of 0.37. The business's 50 day simple moving average is $75.40 and its 200-day simple moving average is $71.68.

Xcel Energy (NASDAQ:XEL - Get Free Report) last posted its earnings results on Thursday, July 31st. The company reported $0.75 EPS for the quarter, beating the consensus estimate of $0.66 by $0.09. Xcel Energy had a return on equity of 10.52% and a net margin of 14.85%.The firm had revenue of $3.29 billion for the quarter, compared to analysts' expectations of $3.31 billion. During the same period last year, the firm earned $0.54 EPS. The firm's revenue was up 8.6% compared to the same quarter last year. Xcel Energy has set its FY 2025 guidance at 3.750-3.850 EPS. Equities research analysts forecast that Xcel Energy Inc. will post 3.82 earnings per share for the current year.

Xcel Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 20th. Investors of record on Monday, September 15th will be given a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 2.8%. The ex-dividend date is Monday, September 15th. Xcel Energy's dividend payout ratio (DPR) is currently 63.16%.

Xcel Energy 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.

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