Man Group plc Invests $3.11 Million in Xcel Energy Inc. $XEL

Man Group plc purchased a new position in shares of Xcel Energy Inc. (NASDAQ:XEL) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 38,689 shares of the company’s stock, valued at approximately $3,107,000.

A number of other hedge funds have also added to or reduced their stakes in the company. Evolution Wealth Management Inc. boosted its holdings in shares of Xcel Energy by 365.3% in 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 in the last quarter. Garton & Associates Financial Advisors LLC acquired a new position in shares of Xcel Energy during the 4th quarter worth $30,000. Pittenger & Anderson Inc. raised its holdings in shares of Xcel Energy by 73.8% during the 4th quarter. Pittenger & Anderson Inc. now owns 471 shares of the company’s stock worth $35,000 after buying an additional 200 shares in the last quarter. First Bancorp Inc ME bought a new stake in shares of Xcel Energy during the 2nd quarter worth $36,000. Finally, Advocate Investing Services LLC bought a new stake in shares of Xcel Energy during the 4th quarter worth $38,000. 78.38% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have issued reports on XEL. Jefferies Financial Group set a $101.00 target price on Xcel Energy in a research report on Tuesday, July 7th. Truist Financial dropped their target price on shares of Xcel Energy from $94.00 to $88.00 and set a “buy” rating for the company in a report on Thursday, August 13th. Mizuho set a $92.00 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 report on Wednesday, June 17th. Finally, Wall Street Zen cut shares of Xcel Energy from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Two equities research 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 currently has a consensus rating of “Buy” and a consensus price target of $92.41.

Xcel Energy Stock Performance

Shares of XEL stock opened at $75.69 on Tuesday. The business’s 50-day moving average price is $79.19 and its 200-day moving average price is $79.76. Xcel Energy Inc. has a 12 month low of $71.29 and a 12 month high of $84.23. The firm has a market capitalization of $47.28 billion, a price-to-earnings ratio of 20.74, a PEG ratio of 1.98 and a beta of 0.39. The company has a current ratio of 0.70, a quick ratio of 0.62 and a debt-to-equity ratio of 1.49.

Xcel Energy (NASDAQ:XEL) last released its quarterly earnings data on Wednesday, July 29th. The company reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.14. The company had revenue of $3.12 billion during the quarter, compared to the consensus estimate of $3.54 billion. Xcel Energy had a return on equity of 10.65% and a net margin of 15.28%.The firm’s revenue was down 5.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.59 earnings per share. Equities research analysts forecast that Xcel Energy Inc. will post 4.12 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. Shareholders of record on Tuesday, September 15th will be given a $0.5925 dividend. This represents a $2.37 annualized dividend and a yield of 3.1%. The ex-dividend date is Tuesday, September 15th. Xcel Energy’s dividend payout ratio is 64.93%.

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.