Elevation Point Wealth Partners LLC Invests $4.24 Million in Xcel Energy Inc. $XEL

Elevation Point Wealth Partners LLC acquired a new position in shares of Xcel Energy Inc. (NASDAQ:XEL) in the 2nd quarter, HoldingsChannel reports. The institutional investor acquired 52,445 shares of the company’s stock, valued at approximately $4,235,000.

Other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. purchased a new position in Xcel Energy in the second quarter valued at about $4,890,136,000. GQG Partners LLC acquired a new position in Xcel Energy in the 2nd quarter worth about $891,688,000. Deutsche Bank AG purchased a new stake in shares of Xcel Energy during the 2nd quarter worth about $433,927,000. Barclays PLC raised its stake in shares of Xcel Energy by 63.6% during the 4th quarter. Barclays PLC now owns 9,979,397 shares of the company’s stock worth $737,078,000 after purchasing an additional 3,881,011 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Xcel Energy by 16.9% during the 4th quarter. JPMorgan Chase & Co. now owns 24,572,438 shares of the company’s stock valued at $1,814,920,000 after buying an additional 3,546,423 shares during the last quarter. Institutional investors and hedge funds own 78.38% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. BTIG Research reissued a “buy” rating and issued a $99.00 price target on shares of Xcel Energy in a research note on Friday, July 31st. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Xcel Energy in a research report on Wednesday, June 17th. Truist Financial reduced their target price on shares of Xcel Energy from $94.00 to $88.00 and set a “buy” rating for the company in a research note on Thursday, August 13th. Mizuho set a $92.00 target price on shares of Xcel Energy in a research report on Friday, July 31st. Finally, KeyCorp reissued an “overweight” rating on shares of Xcel Energy in a research report on Monday, June 8th. Two analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $92.41.

Xcel Energy Price Performance

Shares of NASDAQ:XEL opened at $76.30 on Friday. Xcel Energy Inc. has a fifty-two week low of $71.29 and a fifty-two week high of $84.23. The business has a 50-day moving average of $79.35 and a two-hundred day moving average of $79.70. The stock has a market capitalization of $47.66 billion, a P/E ratio of 20.90, a P/E/G ratio of 1.98 and a beta of 0.39. 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 issued its quarterly earnings data on Wednesday, July 29th. The company reported $0.93 EPS for the quarter, beating analysts’ consensus estimates of $0.79 by $0.14. Xcel Energy had a return on equity of 10.65% and a net margin of 15.28%.The business had revenue of $3.12 billion for the quarter, compared to analyst estimates of $3.54 billion. During the same quarter in the prior year, the firm posted $1.59 EPS. The firm’s revenue for the quarter was down 5.1% on a year-over-year basis. On average, equities research analysts predict that Xcel Energy Inc. will post 4.12 EPS for the current fiscal year.

Xcel Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 20th. Shareholders of record on Tuesday, September 15th will be given 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 yield of 3.1%. Xcel Energy’s dividend payout ratio is presently 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.