Xcel Energy Inc. $XEL Shares Sold by Envestnet Asset Management Inc.

Key Points

• Envestnet Asset Management reduced its Xcel Energy stake by 19.7% in the second quarter, selling 203,146 shares and retaining 826,350 shares worth approximately $66.4 million. Institutional investors collectively own 78.38% of Xcel’s stock.
• Analysts remain broadly optimistic, with a consensus “Buy” rating and an average price target of $92.56, implying potential upside from the reported $69.80 share price.
• Xcel reported quarterly EPS of $0.93, beating estimates of $0.79, though revenue fell 5.1% year over year to $3.12 billion. The company declared a quarterly dividend of $0.5925 per share, representing a 3.4% annualized yield.

Envestnet Asset Management Inc. trimmed its stake in shares of Xcel Energy Inc. (NASDAQ:XEL - Free Report) by 19.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 826,350 shares of the company's stock after selling 203,146 shares during the period. Envestnet Asset Management Inc. owned 0.13% of Xcel Energy worth $66,356,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of XEL. Evolution Wealth Management Inc. increased its stake in Xcel Energy by 365.3% during the 1st quarter. Evolution Wealth Management Inc. now owns 349 shares of the company's stock worth $28,000 after buying an additional 274 shares in the last quarter. Pin Oak Investment Advisors Inc. purchased a new position in shares of Xcel Energy in the second quarter valued at approximately $29,000. First Bancorp Inc ME purchased a new position in shares of Xcel Energy in the second quarter valued at approximately $36,000. Cedar Mountain Advisors LLC acquired a new stake in shares of Xcel Energy in the first quarter worth approximately $39,000. Finally, Archer Investment Corp purchased a new stake in shares of Xcel Energy during the second quarter worth approximately $40,000. Hedge funds and other institutional investors own 78.38% of the company's stock.

Wall Street Analysts Forecast Growth

XEL has been the topic of several recent research reports. New Street Research set a $91.00 target price on shares of Xcel Energy in a research note on Tuesday, June 23rd. Weiss Ratings reissued a "buy (b-)" rating on shares of Xcel Energy in a research note on Monday, September 14th. Mizuho set a $92.00 price target on shares of Xcel Energy in a research report on Friday, July 31st. Barclays boosted their price target on shares of Xcel Energy from $87.00 to $90.00 and gave the stock an "overweight" rating in a research report on Thursday, July 9th. Finally, BMO Capital Markets cut their price objective on shares of Xcel Energy from $95.00 to $92.00 and set an "outperform" rating for the company in a report on Wednesday, July 22nd. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $92.56.

Xcel Energy Price Performance

Xcel Energy stock opened at $69.80 on Friday. The company has a current ratio of 0.70, a quick ratio of 0.62 and a debt-to-equity ratio of 1.49. The company has a 50-day moving average price of $76.64 and a 200 day moving average price of $78.69. Xcel Energy Inc. has a 12-month low of $68.72 and a 12-month high of $84.23. The stock has a market cap of $43.60 billion, a P/E ratio of 19.12, a PEG ratio of 2.36 and a beta of 0.39.

Xcel Energy (NASDAQ:XEL - Get Free Report) last posted its earnings results on Wednesday, July 29th. The company reported $0.93 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.14. The company had revenue of $3.12 billion for the quarter, compared to analyst estimates of $3.54 billion. Xcel Energy had a net margin of 15.28% and a return on equity of 10.65%. Xcel Energy's revenue was down 5.1% on a year-over-year basis. During the same period in the previous year, the business posted $1.59 EPS. Sell-side analysts anticipate that Xcel Energy Inc. will post 4.12 earnings per share for the current year.

Xcel Energy Dividend Announcement

The firm 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 3.4%. Xcel Energy's dividend payout ratio is currently 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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