Xcel Energy Inc. (NASDAQ:XEL) Sees Large Increase in Short Interest

Key Points

• Xcel Energy experienced a significant 72% increase in short interest in September 2023, reaching 27,010,000 shares.
• The company has garnered various recent analyst upgrades, with a consensus rating of "Moderate Buy" and a price target of $84.92.
• Xcel Energy announced a quarterly dividend of $0.57, translating to an annualized dividend yield of 2.8%.

Xcel Energy Inc. (NASDAQ:XEL - Get Free Report) saw a large increase in short interest in September. As of September 30th, there was short interest totaling 27,010,000 shares, an increase of 72.0% from the September 15th total of 15,700,000 shares. Based on an average trading volume of 4,310,000 shares, the days-to-cover ratio is currently 6.3 days. Based on an average trading volume of 4,310,000 shares, the days-to-cover ratio is currently 6.3 days.

Analyst Ratings Changes

XEL has been the topic of several recent research reports. Mizuho set a $83.00 price objective on Xcel Energy in a report on Thursday, September 25th. KeyCorp raised their price objective on Xcel Energy from $79.00 to $85.00 and gave the company an "overweight" rating in a report on Wednesday, October 15th. Weiss Ratings reissued a "hold (c+)" rating on shares of Xcel Energy in a report on Wednesday, October 8th. UBS Group raised their target price on Xcel Energy from $82.00 to $84.00 and gave the stock a "neutral" rating in a research report on Friday, October 10th. Finally, Cowen assumed coverage on Xcel Energy in a research report on Wednesday, October 15th. They set a "buy" rating for the company. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $84.92.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Twin Peaks Wealth Advisors LLC bought a new position in shares of Xcel Energy in the 2nd quarter worth about $25,000. Clearstead Trust LLC raised its position in shares of Xcel Energy by 202.2% in the 2nd quarter. Clearstead Trust LLC now owns 417 shares of the company's stock worth $28,000 after acquiring an additional 279 shares in the last quarter. Accent Capital Management LLC bought a new position in shares of Xcel Energy in the 1st quarter worth about $29,000. BankPlus Trust Department bought a new position in shares of Xcel Energy in the 1st quarter worth about $34,000. Finally, Rise Advisors LLC raised its position in shares of Xcel Energy by 62.9% in the 2nd quarter. Rise Advisors LLC now owns 518 shares of the company's stock worth $35,000 after acquiring an additional 200 shares in the last quarter. 78.38% of the stock is owned by institutional investors.

Xcel Energy Stock Up 0.1%

Shares of NASDAQ:XEL opened at $81.28 on Tuesday. The firm has a market cap of $48.07 billion, a P/E ratio of 22.52, a P/E/G ratio of 2.86 and a beta of 0.37. The company has a quick ratio of 0.85, a current ratio of 0.96 and a debt-to-equity ratio of 1.48. Xcel Energy has a 12-month low of $62.58 and a 12-month high of $83.01. The business has a fifty day simple moving average of $75.57 and a 200 day simple moving average of $71.78.

Xcel Energy (NASDAQ:XEL - Get Free Report) last announced its earnings results on Thursday, July 31st. The company reported $0.75 earnings per share (EPS) for the quarter, topping 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 business had revenue of $3.29 billion during the quarter, compared to analyst estimates of $3.31 billion. During the same period last year, the company earned $0.54 EPS. Xcel Energy's revenue for the quarter 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. Analysts predict that Xcel Energy will post 3.82 earnings per share for the current year.

Xcel Energy Announces Dividend

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

About Xcel Energy

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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