Johnson Financial Group Inc. Acquires New Holdings in Xcel Energy Inc. $XEL

Johnson Financial Group Inc. purchased a new position in Xcel Energy Inc. (NASDAQ:XEL) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 6,397 shares of the company’s stock, valued at approximately $516,000.

Several other large investors have also recently modified their holdings of XEL. West Family Investments Inc. acquired a new position in shares of Xcel Energy during the second quarter worth $293,000. NewEdge Wealth LLC purchased a new position in shares of Xcel Energy in the second quarter worth about $837,000. Danske Bank A S purchased a new position in Xcel Energy during the 2nd quarter worth approximately $739,000. Diversify Advisory Services LLC purchased a new position in shares of Xcel Energy during the second quarter worth $315,000. Finally, Wealthfront Advisers LLC purchased a new position in shares of Xcel Energy during the 2nd quarter valued at about $11,790,000. Institutional investors own 78.38% of the company’s stock.

Xcel Energy Trading Up 0.3%

Shares of XEL stock opened at $79.41 on Thursday. Xcel Energy Inc. has a 1-year low of $71.29 and a 1-year high of $84.23. The firm has a market cap of $49.60 billion, a PE ratio of 21.76, a price-to-earnings-growth ratio of 2.06 and a beta of 0.39. The company has a 50-day moving average of $79.40 and a two-hundred day moving average of $79.70. The company has a debt-to-equity ratio of 1.49, a current ratio of 0.70 and a quick ratio of 0.62.

Xcel Energy (NASDAQ:XEL) last released its quarterly 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. Xcel Energy had a net margin of 15.28% and a return on equity of 10.65%. The business had revenue of $3.12 billion for the quarter, compared to the consensus estimate of $3.54 billion. During the same period in the previous year, the firm earned $1.59 EPS. The business’s revenue was down 5.1% on a year-over-year basis. On average, analysts predict that Xcel Energy Inc. will post 4.11 EPS for the current year.

Xcel Energy Announces Dividend

The firm also recently declared 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 annualized dividend 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 currently 64.93%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Barclays lifted their target price on shares of Xcel Energy from $87.00 to $90.00 and gave the company an “overweight” rating in a report on Thursday, July 9th. Mizuho set a $92.00 target price on Xcel Energy in a report on Friday, July 31st. Morgan Stanley set a $89.00 target price on shares of Xcel Energy in a research report on Wednesday, June 24th. Evercore reiterated an “outperform” rating and set a $96.00 price objective on shares of Xcel Energy in a research report on Monday, May 4th. Finally, KeyCorp reaffirmed an “overweight” rating on shares of Xcel Energy in a research note on Monday, June 8th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $92.41.

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.