Oppenheimer Asset Management Inc. Makes New $1.12 Million Investment in Xcel Energy Inc. $XEL

Oppenheimer Asset Management Inc. purchased a new stake in Xcel Energy Inc. (NASDAQ:XEL) during the second quarter, Holdings Channel.com reports. The institutional investor purchased 14,001 shares of the company’s stock, valued at approximately $1,124,000.

A number of other hedge funds also recently made changes to their positions in XEL. Evolution Wealth Management Inc. increased its position in Xcel Energy by 365.3% during the 1st quarter. Evolution Wealth Management Inc. now owns 349 shares of the company’s stock valued at $28,000 after purchasing an additional 274 shares during the period. Garton & Associates Financial Advisors LLC bought a new stake in shares of Xcel Energy in the 4th quarter valued at $30,000. Pittenger & Anderson Inc. boosted its stake in shares of Xcel Energy by 73.8% in the 4th quarter. Pittenger & Anderson Inc. now owns 471 shares of the company’s stock valued at $35,000 after purchasing an additional 200 shares during the last quarter. Advocate Investing Services LLC bought a new stake in shares of Xcel Energy in the 4th quarter valued at $38,000. Finally, Cedar Mountain Advisors LLC acquired a new stake in shares of Xcel Energy during the first quarter worth $39,000. 78.38% of the stock is currently owned by institutional investors.

Xcel Energy Stock Performance

Shares of XEL stock opened at $79.17 on Monday. The company has a market cap of $49.45 billion, a price-to-earnings ratio of 21.69, a price-to-earnings-growth ratio of 2.06 and a beta of 0.39. Xcel Energy Inc. has a 52 week low of $69.16 and a 52 week high of $84.23. The company has a quick ratio of 0.62, a current ratio of 0.70 and a debt-to-equity ratio of 1.49. The firm has a 50 day moving average of $79.32 and a 200-day moving average of $79.64.

Xcel Energy (NASDAQ:XEL) last released its earnings results on Thursday, July 30th. The company reported $0.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.79 by $0.14. The company 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%. Xcel Energy’s quarterly revenue was down 5.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.59 EPS. 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 business also recently disclosed 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 is Tuesday, September 15th. This represents a $2.37 annualized dividend and a dividend yield of 3.0%. Xcel Energy’s dividend payout ratio is currently 64.93%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. KeyCorp reissued an “overweight” rating on shares of Xcel Energy in a research note on Monday, June 8th. BTIG Research reaffirmed a “buy” rating and set a $99.00 price target on shares of Xcel Energy in a research report on Friday, July 31st. Jefferies Financial Group set a $101.00 price target on Xcel Energy in a report on Tuesday, July 7th. Evercore reissued an “outperform” rating and issued a $96.00 price objective on shares of Xcel Energy in a research report on Monday, May 4th. Finally, Mizuho set a $92.00 price objective on Xcel Energy in a research note on Friday, July 31st. Two research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and one has given a Sell rating to the company. According to MarketBeat, Xcel Energy currently has an average rating of “Buy” and a consensus target price of $92.41.

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.