USA Financial Formulas Sells 12,238 Shares of Xcel Energy Inc. $XEL

USA Financial Formulas decreased its stake in shares of Xcel Energy Inc. (NASDAQ:XEL) by 57.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,197 shares of the company’s stock after selling 12,238 shares during the quarter. USA Financial Formulas’ holdings in Xcel Energy were worth $731,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. BIP Wealth LLC purchased a new stake in shares of Xcel Energy in the 2nd quarter worth approximately $348,000. Oppenheimer Asset Management Inc. purchased a new position in Xcel Energy during the second quarter valued at approximately $1,124,000. Laraway Financial Advisors Inc bought a new position in Xcel Energy in the second quarter worth approximately $631,000. Tema ETFs LLC raised its stake in Xcel Energy by 43.3% in the second quarter. Tema ETFs LLC now owns 196,808 shares of the company’s stock worth $15,804,000 after buying an additional 59,458 shares in the last quarter. Finally, Ausbil Investment Management Ltd bought a new position in Xcel Energy in the second quarter worth approximately $7,514,000. 78.38% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. JPMorgan Chase & Co. raised their price target on shares of Xcel Energy from $91.00 to $102.00 and gave the company an “overweight” rating in a report on Thursday, July 16th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Xcel Energy in a research note on Wednesday, June 17th. Evercore reissued an “outperform” rating and set a $96.00 target price on shares of Xcel Energy in a research report on Monday, May 4th. New Street Research set a $91.00 target price on shares of Xcel Energy in a research note on Tuesday, June 23rd. Finally, UBS Group lifted their price target on shares of Xcel Energy from $89.00 to $91.00 and gave the stock a “buy” rating in a report on Monday, April 20th. Two equities research 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’s stock. Based on data from MarketBeat, Xcel Energy currently has an average rating of “Buy” and a consensus price target of $92.41.

Xcel Energy Stock Performance

NASDAQ XEL opened at $79.17 on Friday. The stock has a 50-day simple moving average of $79.32 and a two-hundred day simple moving average of $79.61. The firm has a market capitalization of $49.45 billion, a P/E ratio of 21.69, a PEG ratio of 2.06 and a beta of 0.39. Xcel Energy Inc. has a fifty-two week low of $69.16 and a fifty-two week high of $84.23. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.62 and a current ratio of 0.70.

Xcel Energy (NASDAQ:XEL) last announced its quarterly earnings results on Thursday, July 30th. The company reported $0.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.79 by $0.14. The firm had revenue of $3.12 billion for the quarter, compared to the consensus estimate of $3.54 billion. Xcel Energy had a net margin of 15.28% and a return on equity of 10.65%. The firm’s quarterly revenue was down 5.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.59 earnings per share. On average, equities analysts forecast that Xcel Energy Inc. will post 4.11 earnings per share for the current year.

Xcel Energy Dividend Announcement

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

Xcel Energy Company 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.