Xcel Energy Inc. (NASDAQ:XEL - Get Free Report) shares hit a new 52-week high during trading on Thursday following a better than expected earnings announcement. The stock traded as high as $73.75 and last traded at $73.02, with a volume of 621912 shares traded. The stock had previously closed at $72.39.
The company reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.09. The firm had revenue of $3.29 billion during the quarter, compared to analysts' expectations of $3.31 billion. Xcel Energy had a return on equity of 10.20% and a net margin of 14.10%. The company's quarterly revenue was up 8.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.54 EPS.
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 annualized dividend and a dividend yield of 3.10%. Xcel Energy's dividend payout ratio is currently 67.06%.
Wall Street Analyst Weigh In
A number of analysts have commented on the stock. Wall Street Zen cut shares of Xcel Energy from a "hold" rating to a "sell" rating in a research report on Tuesday, May 20th. BMO Capital Markets raised their target price on Xcel Energy from $69.00 to $73.00 and gave the stock a "market perform" rating in a research note on Wednesday, April 23rd. Evercore ISI boosted their price target on Xcel Energy from $74.00 to $77.00 and gave the company an "outperform" rating in a research note on Monday, April 28th. Morgan Stanley reduced their price objective on shares of Xcel Energy from $78.00 to $77.00 and set an "equal weight" rating for the company in a research report on Wednesday, June 18th. Finally, Wells Fargo & Company set a $78.00 target price on shares of Xcel Energy and gave the stock an "overweight" rating in a research note on Friday, April 25th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat, Xcel Energy currently has a consensus rating of "Moderate Buy" and a consensus price target of $75.80.
View Our Latest Report on Xcel Energy
Institutional Trading of Xcel Energy
A number of hedge funds have recently made changes to their positions in XEL. Accent Capital Management LLC purchased a new position in shares of Xcel Energy in the first quarter worth about $29,000. BankPlus Trust Department bought a new stake in Xcel Energy in the first quarter valued at approximately $34,000. Rise Advisors LLC boosted its stake in shares of Xcel Energy by 62.9% during the second quarter. Rise Advisors LLC now owns 518 shares of the company's stock valued at $35,000 after purchasing an additional 200 shares during the period. Marshall & Sullivan Inc. WA bought a new position in shares of Xcel Energy in the second quarter worth approximately $44,000. Finally, RMG Wealth Management LLC bought a new position in shares of Xcel Energy in the second quarter worth approximately $46,000. 78.38% of the stock is owned by institutional investors.
Xcel Energy Trading Up 1.7%
The firm's 50 day moving average is $69.02 and its 200 day moving average is $69.00. The company has a debt-to-equity ratio of 1.48, a current ratio of 0.80 and a quick ratio of 0.70. The company has a market capitalization of $42.45 billion, a PE ratio of 21.65, a P/E/G ratio of 2.44 and a beta of 0.36.
Xcel Energy Company Profile
(
Get Free Report)
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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