Csenge Advisory Group Acquires New Stake in Xcel Energy Inc. $XEL

Csenge Advisory Group bought a new position in shares of Xcel Energy Inc. (NASDAQ:XEL) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 6,383 shares of the company’s stock, valued at approximately $513,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of XEL. Vanguard Group Inc. boosted its holdings in Xcel Energy by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 77,610,805 shares of the company’s stock valued at $5,732,334,000 after acquiring an additional 885,085 shares during the last quarter. BlackRock Inc. acquired a new position in shares of Xcel Energy in the 2nd quarter worth approximately $4,890,136,000. State Street Corp lifted its position in shares of Xcel Energy by 1.2% in the 4th quarter. State Street Corp now owns 36,340,645 shares of the company’s stock worth $2,704,534,000 after purchasing an additional 444,092 shares during the period. Bank of America Corp DE boosted its stake in shares of Xcel Energy by 5.9% in the 1st quarter. Bank of America Corp DE now owns 29,441,811 shares of the company’s stock valued at $2,338,858,000 after purchasing an additional 1,637,890 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in shares of Xcel Energy by 16.9% in the 4th quarter. JPMorgan Chase & Co. now owns 24,572,438 shares of the company’s stock valued at $1,814,920,000 after purchasing an additional 3,546,423 shares during the last quarter. 78.38% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

XEL has been the subject of a number of analyst reports. New Street Research set a $91.00 target price on shares of Xcel Energy in a research note on Tuesday, June 23rd. Wall Street Zen cut shares of Xcel Energy from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Xcel Energy in a report on Wednesday, June 17th. KeyCorp reissued an “overweight” rating on shares of Xcel Energy in a research report on Monday, June 8th. Finally, Jefferies Financial Group set a $101.00 price objective on Xcel Energy in a research note on Tuesday, July 7th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $92.41.

Xcel Energy Stock Performance

NASDAQ:XEL opened at $78.71 on Friday. The company has a quick ratio of 0.62, a current ratio of 0.70 and a debt-to-equity ratio of 1.49. Xcel Energy Inc. has a twelve month low of $71.29 and a twelve month high of $84.23. The company has a fifty day moving average of $79.41 and a 200-day moving average of $79.72. The firm has a market capitalization of $49.16 billion, a P/E ratio of 21.56, a P/E/G ratio of 2.06 and a beta of 0.39.

Xcel Energy (NASDAQ:XEL) last issued its earnings results on Wednesday, July 29th. The company reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.14. The business had revenue of $3.12 billion for the quarter, compared to analyst estimates of $3.54 billion. Xcel Energy had a net margin of 15.28% and a return on equity of 10.65%. Xcel Energy’s revenue was down 5.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.59 earnings per share. As a group, sell-side analysts anticipate that Xcel Energy Inc. will post 4.11 EPS for the current year.

Xcel Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 20th. Stockholders of record on Tuesday, September 15th will be given a dividend of $0.5925 per share. This represents a $2.37 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend is Tuesday, September 15th. Xcel Energy’s dividend payout ratio is 64.93%.

About Xcel Energy

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.