Janney Montgomery Scott LLC Acquires 906 Shares of Xcel Energy Inc. (NASDAQ:XEL)

Posted by Defense World Staff on Apr 21st, 2023

Janney Montgomery Scott LLC boosted its holdings in Xcel Energy Inc. (NASDAQ:XEL – Get Rating) by 1.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 91,325 shares of the company’s stock after buying an additional 906 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Xcel Energy were worth $6,403,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the business. Old North State Trust LLC acquired a new stake in Xcel Energy during the 3rd quarter valued at approximately $26,000. Armstrong Advisory Group Inc. acquired a new stake in Xcel Energy during the 4th quarter valued at approximately $34,000. Burleson & Company LLC acquired a new stake in Xcel Energy during the 3rd quarter valued at approximately $32,000. Pinnacle Financial Partners Inc. acquired a new stake in Xcel Energy during the 3rd quarter valued at approximately $32,000. Finally, Marshall & Sullivan Inc. WA acquired a new stake in Xcel Energy during the 4th quarter valued at approximately $42,000. Institutional investors own 77.15% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on XEL. Mizuho decreased their target price on shares of Xcel Energy from $75.00 to $72.00 and set a “buy” rating for the company in a research report on Friday, March 17th. StockNews.com assumed coverage on shares of Xcel Energy in a research report on Thursday, March 16th. They set a “hold” rating for the company. BMO Capital Markets reduced their price objective on shares of Xcel Energy from $74.00 to $73.00 and set an “outperform” rating for the company in a research report on Wednesday, April 5th. Morgan Stanley raised their price objective on shares of Xcel Energy from $62.00 to $67.00 and gave the stock an “equal weight” rating in a research report on Thursday. Finally, JPMorgan Chase & Co. raised their price objective on shares of Xcel Energy from $73.00 to $79.00 and gave the stock an “overweight” rating in a research report on Wednesday. Five analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $71.50.

Insider Buying and Selling

In other Xcel Energy news, SVP Frank P. Prager sold 737 shares of the company’s stock in a transaction dated Thursday, March 9th. The shares were sold at an average price of $65.00, for a total transaction of $47,905.00. Following the sale, the senior vice president now directly owns 29,340 shares of the company’s stock, valued at $1,907,100. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.05% of the stock is owned by insiders.

Xcel Energy Stock Performance

NASDAQ XEL opened at $70.69 on Friday. The company has a fifty day simple moving average of $68.31 and a 200 day simple moving average of $68.44. Xcel Energy Inc. has a 12-month low of $56.89 and a 12-month high of $77.66. The company has a current ratio of 0.85, a quick ratio of 0.71 and a debt-to-equity ratio of 1.37. The company has a market cap of $38.90 billion, a P/E ratio of 22.30, a PEG ratio of 3.13 and a beta of 0.42.

Xcel Energy (NASDAQ:XEL – Get Rating) last issued its quarterly earnings results on Thursday, January 26th. The company reported $0.69 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.69. The company had revenue of $4.05 billion for the quarter, compared to the consensus estimate of $3.05 billion. Xcel Energy had a net margin of 11.34% and a return on equity of 10.72%. The firm’s quarterly revenue was up 20.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.58 EPS. Sell-side analysts predict that Xcel Energy Inc. will post 3.37 earnings per share for the current fiscal year.

Xcel Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 20th. Investors of record on Wednesday, March 15th were issued a $0.52 dividend. This is an increase from Xcel Energy’s previous quarterly dividend of $0.49. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.94%. The ex-dividend date of this dividend was Tuesday, March 14th. Xcel Energy’s payout ratio is 65.62%.

About Xcel Energy

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Xcel Energy, Inc operates as a holding company engaged in the generation, purchase, transmission, distribution, and sale of electricity. It operates through the following three segments: Regulated Electric Utility, Regulated Natural Gas Utility and All Others. The Regulated Electric Utility segment generates, transmits, and distributes electricity primarily in Minnesota, Wisconsin, Michigan, North Dakota, South Dakota, Colorado, Texas, and New Mexico.