SIR Capital Management L.P. Increases Position in Xcel Energy Inc. $XEL

SIR Capital Management L.P. lifted its position in Xcel Energy Inc. (NASDAQ:XEL) by 75.0% in the fourth quarter, HoldingsChannel.com reports. The firm owned 305,285 shares of the company’s stock after purchasing an additional 130,796 shares during the quarter. Xcel Energy comprises about 2.5% of SIR Capital Management L.P.’s investment portfolio, making the stock its 13th biggest holding. SIR Capital Management L.P.’s holdings in Xcel Energy were worth $22,548,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vermillion & White Wealth Management Group LLC purchased a new stake in shares of Xcel Energy in the third quarter worth $27,000. Abound Wealth Management increased its stake in shares of Xcel Energy by 394.5% in the fourth quarter. Abound Wealth Management now owns 361 shares of the company’s stock worth $27,000 after purchasing an additional 288 shares in the last quarter. Beacon Financial Strategies CORP purchased a new position in Xcel Energy during the fourth quarter valued at $33,000. Pittenger & Anderson Inc. grew its stake in Xcel Energy by 73.8% during the fourth quarter. Pittenger & Anderson Inc. now owns 471 shares of the company’s stock valued at $35,000 after acquiring an additional 200 shares in the last quarter. Finally, Measured Wealth Private Client Group LLC purchased a new position in Xcel Energy during the third quarter valued at $42,000. 78.38% of the stock is owned by hedge funds and other institutional investors.

Xcel Energy Stock Performance

XEL opened at $79.22 on Friday. The stock has a market capitalization of $49.45 billion, a price-to-earnings ratio of 22.83, a PEG ratio of 2.03 and a beta of 0.39. The company has a fifty day moving average of $79.74 and a 200 day moving average of $78.44. Xcel Energy Inc. has a fifty-two week low of $65.21 and a fifty-two week high of $84.23. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.68 and a current ratio of 0.77.

Xcel Energy (NASDAQ:XEL) last released its quarterly earnings data on Wednesday, April 29th. The company reported $0.91 EPS for the quarter, meeting the consensus estimate of $0.91. Xcel Energy had a net margin of 14.14% and a return on equity of 10.37%. The business had revenue of $4.02 billion during the quarter, compared to analyst estimates of $4.21 billion. During the same quarter last year, the business earned $0.84 earnings per share. Xcel Energy’s quarterly revenue was up 2.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Xcel Energy Inc. will post 4.11 earnings per share for the current fiscal year.

Xcel Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 20th. Shareholders of record on Monday, June 15th will be given a dividend of $0.5925 per share. The ex-dividend date is Monday, June 15th. This represents a $2.37 annualized dividend and a yield of 3.0%. Xcel Energy’s dividend payout ratio (DPR) is 68.30%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on XEL shares. JPMorgan Chase & Co. cut their target price on shares of Xcel Energy from $94.00 to $91.00 and set an “overweight” rating for the company in a research note on Thursday, May 14th. Evercore reaffirmed an “outperform” rating and set a $96.00 target price on shares of Xcel Energy in a research note on Monday, May 4th. KeyCorp reaffirmed an “overweight” rating on shares of Xcel Energy in a research note on Monday. BMO Capital Markets raised their target price on shares of Xcel Energy from $90.00 to $94.00 and gave the company an “outperform” rating in a research note on Wednesday, April 22nd. Finally, Truist Financial cut their target price on shares of Xcel Energy from $95.00 to $92.00 and set a “buy” rating for the company in a research note on Monday, May 18th. Three equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $90.63.

Xcel Energy Profile

Xcel Energy (NASDAQ: XEL) is a Minneapolis-based, publicly traded utility holding company that develops, owns and operates regulated electricity and natural gas delivery systems. The company’s core activities include generation, transmission and distribution of electricity, the delivery of natural gas to customers, and related customer service operations. Xcel provides a mix of utility services to residential, commercial and industrial customers and participates in wholesale energy markets where appropriate.

Its generation portfolio combines nuclear, natural gas, coal and a growing share of renewable resources such as wind and solar.