Allworth Financial LP Acquires 264 Shares of Xcel Energy Inc. (NASDAQ:XEL)

Posted by Defense World Staff on Oct 2nd, 2023

Allworth Financial LP raised its holdings in shares of Xcel Energy Inc. (NASDAQ:XEL – Free Report) by 3.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,408 shares of the company’s stock after purchasing an additional 264 shares during the quarter. Allworth Financial LP’s holdings in Xcel Energy were worth $461,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in XEL. Ameritas Investment Partners Inc. raised its holdings in shares of Xcel Energy by 0.8% in the first quarter. Ameritas Investment Partners Inc. now owns 19,660 shares of the company’s stock valued at $1,418,000 after acquiring an additional 156 shares in the last quarter. Bessemer Group Inc. grew its stake in Xcel Energy by 3.4% in the first quarter. Bessemer Group Inc. now owns 5,237 shares of the company’s stock valued at $353,000 after purchasing an additional 170 shares during the last quarter. Nwam LLC grew its stake in Xcel Energy by 5.8% in the first quarter. Nwam LLC now owns 3,224 shares of the company’s stock valued at $217,000 after purchasing an additional 177 shares during the last quarter. Capital Advisory Group Advisory Services LLC grew its stake in Xcel Energy by 1.5% in the second quarter. Capital Advisory Group Advisory Services LLC now owns 12,145 shares of the company’s stock valued at $755,000 after purchasing an additional 180 shares during the last quarter. Finally, Zions Bancorporation N.A. grew its stake in Xcel Energy by 6.2% in the first quarter. Zions Bancorporation N.A. now owns 3,197 shares of the company’s stock valued at $231,000 after purchasing an additional 186 shares during the last quarter. 77.83% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on XEL. Bank of America dropped their price target on Xcel Energy from $60.00 to $58.00 in a research note on Friday. The Goldman Sachs Group assumed coverage on Xcel Energy in a report on Wednesday, June 7th. They issued a “buy” rating and a $75.00 price target for the company. Royal Bank of Canada decreased their price target on Xcel Energy from $76.00 to $67.00 and set a “sector perform” rating for the company in a report on Wednesday, September 6th. BMO Capital Markets reduced their target price on Xcel Energy from $66.00 to $62.00 and set a “market perform” rating for the company in a research note on Wednesday, September 20th. Finally, Barclays initiated coverage on Xcel Energy in a research note on Thursday, August 24th. They set an “equal weight” rating and a $60.00 target price for the company. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $66.29.

View Our Latest Stock Analysis on Xcel Energy

Xcel Energy Price Performance

XEL stock opened at $57.22 on Monday. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.80 and a quick ratio of 0.68. The firm has a market capitalization of $31.56 billion, a P/E ratio of 18.17, a P/E/G ratio of 2.82 and a beta of 0.41. The business’s 50-day moving average is $59.04 and its two-hundred day moving average is $64.06. Xcel Energy Inc. has a 1 year low of $55.11 and a 1 year high of $72.99.

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 analysts’ consensus estimates of $0.57 by ($0.05). The company had revenue of $3.02 billion during the quarter, compared to analyst estimates of $3.38 billion. Xcel Energy had a net margin of 11.38% and a return on equity of 10.39%. Xcel Energy’s revenue for the quarter was down 11.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.60 EPS. Analysts anticipate that Xcel Energy Inc. will post 3.34 earnings per share for the current fiscal year.

Xcel Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 20th. Investors of record on Friday, September 15th will be paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $2.08 dividend on an annualized basis and a yield of 3.64%. Xcel Energy’s dividend payout ratio is presently 66.03%.

Xcel Energy 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.