Spire Wealth Management Has $488,000 Position in Xcel Energy Inc. (NASDAQ:XEL)

Posted by Defense World Staff on Aug 19th, 2023

Spire Wealth Management reduced its stake in shares of Xcel Energy Inc. (NASDAQ:XEL – Free Report) by 85.6% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,237 shares of the company’s stock after selling 43,128 shares during the period. Spire Wealth Management’s holdings in Xcel Energy were worth $488,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of XEL. T. Rowe Price Investment Management Inc. purchased a new position in shares of Xcel Energy during the 4th quarter valued at $576,873,000. Moneta Group Investment Advisors LLC bought a new stake in Xcel Energy in the fourth quarter worth $231,020,000. Strategic Wealth Investment Group LLC boosted its holdings in Xcel Energy by 90,544.8% in the first quarter. Strategic Wealth Investment Group LLC now owns 3,219,705 shares of the company’s stock worth $240,000 after purchasing an additional 3,216,153 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Xcel Energy by 2.6% in the first quarter. Vanguard Group Inc. now owns 50,043,375 shares of the company’s stock worth $3,611,630,000 after purchasing an additional 1,263,127 shares in the last quarter. Finally, Alliancebernstein L.P. boosted its holdings in Xcel Energy by 165.3% in the fourth quarter. Alliancebernstein L.P. now owns 1,899,289 shares of the company’s stock worth $133,159,000 after purchasing an additional 1,183,298 shares in the last quarter. 77.86% of the stock is currently owned by hedge funds and other institutional investors.

Xcel Energy Stock Performance

NASDAQ:XEL opened at $58.19 on Friday. Xcel Energy Inc. has a 12-month low of $56.89 and a 12-month high of $77.66. The company has a quick ratio of 0.68, a current ratio of 0.80 and a debt-to-equity ratio of 1.42. The firm has a market capitalization of $32.09 billion, a PE ratio of 18.47, a price-to-earnings-growth ratio of 2.76 and a beta of 0.41. The firm has a 50-day moving average price of $62.35 and a 200 day moving average price of $65.75.

Xcel Energy (NASDAQ:XEL – Get Free Report) last posted its quarterly earnings results on Thursday, July 27th. The company reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.57 by ($0.05). Xcel Energy had a return on equity of 10.39% and a net margin of 11.38%. The business had revenue of $3.02 billion during the quarter, compared to analyst estimates of $3.38 billion. During the same period last year, the company earned $0.60 EPS. The business’s revenue for the quarter was down 11.7% on a year-over-year basis. Research analysts anticipate that Xcel Energy Inc. will post 3.34 earnings per share for the current fiscal year.

Xcel Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 20th. Investors of record on Thursday, June 15th were given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 3.57%. The ex-dividend date was Wednesday, June 14th. Xcel Energy’s dividend payout ratio (DPR) is presently 66.03%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. cut shares of Xcel Energy from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $79.00 to $68.00 in a report on Friday, June 2nd. Wolfe Research cut shares of Xcel Energy from an “outperform” rating to a “peer perform” rating in a report on Friday, June 2nd. BMO Capital Markets cut shares of Xcel Energy from an “outperform” rating to a “market perform” rating in a report on Wednesday, June 21st. Bank of America decreased their price target on shares of Xcel Energy from $74.00 to $70.00 in a report on Tuesday, June 6th. Finally, Mizuho cut their price objective on shares of Xcel Energy from $72.00 to $69.00 in a research report on Tuesday, May 30th. Seven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $69.18.

Get Our Latest Stock Analysis on Xcel Energy

Xcel Energy Company Profile

(Free Report)

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

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