Xcel Energy Inc. (NASDAQ:XEL – Free Report) – Equities research analysts at KeyCorp reduced their Q2 2023 EPS estimates for shares of Xcel Energy in a research note issued to investors on Tuesday, July 18th. KeyCorp analyst S. Karp now expects that the company will post earnings of $0.45 per share for the quarter, down from their previous estimate of $0.59. The consensus estimate for Xcel Energy’s current full-year earnings is $3.36 per share. KeyCorp also issued estimates for Xcel Energy’s Q4 2023 earnings at $0.83 EPS.
A number of other equities analysts have also recently issued reports on the stock. The Goldman Sachs Group started coverage on shares of Xcel Energy in a research note on Wednesday, June 7th. They issued a “buy” rating and a $75.00 price objective for the company. StockNews.com started coverage on Xcel Energy in a research report on Thursday, May 18th. They issued a “hold” rating on the stock. Bank of America dropped their price target on shares of Xcel Energy from $74.00 to $70.00 in a research note on Tuesday, June 6th. Morgan Stanley boosted their target price on Xcel Energy from $62.00 to $67.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 20th. Finally, Wolfe Research cut 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 three have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $69.45.
Xcel Energy Stock Up 1.8 %
Xcel Energy (NASDAQ:XEL – Get Free Report) last issued its quarterly earnings results on Thursday, April 27th. The company reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.02. Xcel Energy had a return on equity of 10.78% and a net margin of 11.34%. The firm had revenue of $4.08 billion for the quarter, compared to analyst estimates of $3.76 billion. During the same period in the previous year, the company posted $0.70 earnings per share. The company’s quarterly revenue was up 8.8% compared to the same quarter last year.
Xcel Energy Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, July 20th. Investors of record on Thursday, June 15th were paid a $0.52 dividend. The ex-dividend date was Wednesday, June 14th. This represents a $2.08 annualized dividend and a dividend yield of 3.22%. Xcel Energy’s dividend payout ratio is presently 64.40%.
Insider Buying and Selling
In other news, EVP Timothy John O’connor sold 15,625 shares of Xcel Energy stock in a transaction dated 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 legal filing with the SEC, which is accessible through this hyperlink. 0.06% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On Xcel Energy
Institutional investors and hedge funds have recently modified their holdings of the business. Lazari Capital Management Inc. bought a new position in shares of Xcel Energy during the second quarter worth approximately $229,000. International Assets Investment Management LLC bought a new position in Xcel Energy during the 2nd quarter worth $460,000. Global Retirement Partners LLC increased its stake in Xcel Energy by 1.5% during the 2nd quarter. Global Retirement Partners LLC now owns 12,977 shares of the company’s stock worth $807,000 after acquiring an additional 198 shares during the period. Advocate Group LLC raised its holdings in Xcel Energy by 1.7% in the 2nd quarter. Advocate Group LLC now owns 15,022 shares of the company’s stock valued at $934,000 after acquiring an additional 244 shares in the last quarter. Finally, DAVENPORT & Co LLC grew its holdings in shares of Xcel Energy by 5.4% during the 2nd quarter. DAVENPORT & Co LLC now owns 9,477 shares of the company’s stock worth $589,000 after purchasing an additional 489 shares in the last quarter. 77.86% of the stock is currently owned by institutional investors and hedge funds.
About Xcel Energy
Xcel Energy Inc, through its subsidiaries, generates, purchases, transmits, distributes, and sells electricity. It operates through Regulated Electric Utility, Regulated Natural Gas Utility, and All Other segments. The company generates electricity through coal, nuclear, natural gas, hydroelectric, solar, biomass, oil, wood/refuse, and wind energy sources.
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