Greenland Capital Management LP Makes New Investment in Xcel Energy Inc. $XEL

Greenland Capital Management LP bought a new position in Xcel Energy Inc. (NASDAQ:XEL) in the 2nd quarter, Holdings Channel.com reports. The firm bought 86,371 shares of the company’s stock, valued at approximately $6,936,000. Xcel Energy comprises 0.9% of Greenland Capital Management LP’s portfolio, making the stock its 26th largest holding.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Bank of New York Mellon Corp acquired a new stake in shares of Xcel Energy in the 2nd quarter valued at approximately $280,187,000. Cbre Investment Management Listed Real Assets LLC boosted its stake in shares of Xcel Energy by 18.1% in the fourth quarter. Cbre Investment Management Listed Real Assets LLC now owns 2,324,667 shares of the company’s stock valued at $171,700,000 after buying an additional 356,208 shares in the last quarter. PKO Investment Management Joint Stock Co purchased a new stake in shares of Xcel Energy in the fourth quarter valued at approximately $1,477,000. Electron Capital Partners LLC grew its holdings in Xcel Energy by 15.2% during the fourth quarter. Electron Capital Partners LLC now owns 1,936,695 shares of the company’s stock worth $143,044,000 after acquiring an additional 255,884 shares during the period. Finally, Reaves W H & Co. Inc. grew its holdings in Xcel Energy by 13.1% during the fourth quarter. Reaves W H & Co. Inc. now owns 3,579,918 shares of the company’s stock worth $264,413,000 after acquiring an additional 415,759 shares during the period. Hedge funds and other institutional investors own 78.38% of the company’s stock.

Xcel Energy Stock Down 3.1%

Xcel Energy stock opened at $76.30 on Friday. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.62 and a current ratio of 0.70. The firm has a market capitalization of $47.66 billion, a price-to-earnings ratio of 20.90, a price-to-earnings-growth ratio of 1.98 and a beta of 0.39. Xcel Energy Inc. has a fifty-two week low of $71.29 and a fifty-two week high of $84.23. The stock’s fifty day moving average is $79.35 and its two-hundred day moving average is $79.70.

Xcel Energy (NASDAQ:XEL) last announced its quarterly earnings results on Wednesday, July 29th. The company reported $0.93 earnings per share 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 during the quarter, compared to analysts’ expectations of $3.54 billion. During the same quarter last year, the business posted $1.59 earnings per share. The business’s revenue for the quarter was down 5.1% on a year-over-year basis. Analysts predict that Xcel Energy Inc. will post 4.12 EPS for the current fiscal year.

Xcel Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 20th. Stockholders of record on Tuesday, September 15th will be paid a dividend of $0.5925 per share. This represents a $2.37 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend is Tuesday, September 15th. Xcel Energy’s dividend payout ratio (DPR) is 64.93%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Evercore reissued an “outperform” rating and issued a $96.00 target price on shares of Xcel Energy in a report on Monday, May 4th. Barclays upped their price target on shares of Xcel Energy from $87.00 to $90.00 and gave the stock an “overweight” rating in a research note on Thursday, July 9th. New Street Research set a $91.00 price target on shares of Xcel Energy in a report on Tuesday, June 23rd. Truist Financial reduced their price objective 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. Finally, Jefferies Financial Group set a $101.00 price objective on shares of Xcel Energy in a report 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 Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Buy” and an average 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.