CVA Family Office LLC Cuts Stake in Xcel Energy Inc. (NASDAQ:XEL)

Posted by on Jun 17th, 2023

CVA Family Office LLC lowered its stake in shares of Xcel Energy Inc. (NASDAQ:XEL – Get Rating) by 20.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,100 shares of the company’s stock after selling 275 shares during the period. CVA Family Office LLC’s holdings in Xcel Energy were worth $77,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Banque Pictet & Cie SA increased its stake in shares of Xcel Energy by 9.8% during the fourth quarter. Banque Pictet & Cie SA now owns 20,338 shares of the company’s stock worth $1,426,000 after purchasing an additional 1,820 shares in the last quarter. Securian Asset Management Inc. increased its stake in shares of Xcel Energy by 0.9% during the fourth quarter. Securian Asset Management Inc. now owns 44,921 shares of the company’s stock worth $3,149,000 after purchasing an additional 402 shares in the last quarter. Edgestream Partners L.P. purchased a new stake in shares of Xcel Energy during the fourth quarter worth about $975,000. Hexagon Capital Partners LLC increased its stake in shares of Xcel Energy by 15.7% during the fourth quarter. Hexagon Capital Partners LLC now owns 1,615 shares of the company’s stock worth $113,000 after purchasing an additional 219 shares in the last quarter. Finally, Sunbelt Securities Inc. purchased a new stake in Xcel Energy during the 4th quarter valued at about $221,000. Hedge funds and other institutional investors own 77.15% of the company’s stock.

Insider Buying and Selling

In other Xcel Energy news, EVP Timothy John O’connor sold 15,625 shares of the firm’s stock in a transaction that occurred on Friday, April 28th. The shares were sold at an average price of $69.59, for a total value of $1,087,343.75. Following the completion of the transaction, the executive vice president now owns 6,498 shares of the company’s stock, valued at approximately $452,195.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.06% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on XEL. StockNews.com began coverage on shares of Xcel Energy in a research note on Thursday, May 18th. They set a “hold” rating for the company. JPMorgan Chase & Co. cut shares of Xcel Energy from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $79.00 to $68.00 in a research note on Friday, June 2nd. The Goldman Sachs Group began coverage on shares of Xcel Energy in a research note on Wednesday, June 7th. They set a “buy” rating and a $75.00 price objective for the company. BMO Capital Markets dropped their price objective on shares of Xcel Energy from $75.00 to $69.00 in a research note on Monday, June 5th. Finally, Wolfe Research cut shares of Xcel Energy from an “outperform” rating to a “peer perform” rating in a research note on Friday, June 2nd. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $70.17.

Xcel Energy Stock Down 0.6 %

Xcel Energy stock opened at $63.92 on Friday. The company has a market capitalization of $35.18 billion, a PE ratio of 19.79, a price-to-earnings-growth ratio of 2.96 and a beta of 0.43. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.65 and a current ratio of 0.75. Xcel Energy Inc. has a fifty-two week low of $56.89 and a fifty-two week high of $77.66. The firm has a 50 day moving average price of $67.14 and a 200 day moving average price of $67.63.

Xcel Energy (NASDAQ:XEL – Get Rating) last issued its quarterly earnings data on Thursday, April 27th. The company reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.02. Xcel Energy had a return on equity of 10.78% and a net margin of 11.34%. The business had revenue of $4.08 billion during the quarter, compared to analysts’ expectations of $3.76 billion. During the same period in the previous year, the firm posted $0.70 earnings per share. The company’s revenue was up 8.8% on a year-over-year basis. Research analysts expect that Xcel Energy Inc. will post 3.36 earnings per share for the current year.

Xcel Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 20th. Investors of record on Thursday, June 15th will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.25%. The ex-dividend date of this dividend is Wednesday, June 14th. Xcel Energy’s dividend payout ratio (DPR) is currently 64.40%.

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.

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Institutional Ownership by Quarter for Xcel Energy (NASDAQ:XEL)

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