Northwestern Mutual Wealth Management Co. Sells 50,888 Shares of Xcel Energy Inc. $XEL

Northwestern Mutual Wealth Management Co. cut its stake in Xcel Energy Inc. (NASDAQ:XEL) by 38.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 82,803 shares of the company’s stock after selling 50,888 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Xcel Energy were worth $6,649,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the business. Evolution Wealth Management Inc. lifted its stake in Xcel Energy by 365.3% in the first quarter. Evolution Wealth Management Inc. now owns 349 shares of the company’s stock valued at $28,000 after buying an additional 274 shares in the last quarter. Pin Oak Investment Advisors Inc. bought a new position in Xcel Energy in the second quarter valued at approximately $29,000. Garton & Associates Financial Advisors LLC bought a new position in shares of Xcel Energy in the 4th quarter valued at $30,000. First Bancorp Inc ME acquired a new stake in Xcel Energy in the second quarter valued at $36,000. Finally, Cedar Mountain Advisors LLC bought a new stake in Xcel Energy during the first quarter valued at $39,000. Institutional investors and hedge funds own 78.38% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on XEL. Wall Street Zen lowered shares of Xcel Energy from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Truist Financial reduced their target price on shares of Xcel Energy from $94.00 to $88.00 and set a “buy” rating on the stock in a report on Thursday, August 13th. KeyCorp reissued an “overweight” rating on shares of Xcel Energy in a research note on Monday, June 8th. New Street Research set a $91.00 price objective on shares of Xcel Energy in a report on Tuesday, June 23rd. Finally, Jefferies Financial Group set a $101.00 target price on shares of Xcel Energy in a report on Tuesday, July 7th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $92.41.

Xcel Energy Price Performance

Shares of XEL opened at $75.51 on Thursday. The company has a debt-to-equity ratio of 1.49, a current ratio of 0.70 and a quick ratio of 0.62. The company’s fifty day moving average price is $78.98 and its 200-day moving average price is $79.72. The firm has a market capitalization of $47.17 billion, a PE ratio of 20.69, a price-to-earnings-growth ratio of 2.57 and a beta of 0.39. Xcel Energy Inc. has a 1-year low of $71.29 and a 1-year high of $84.23.

Xcel Energy (NASDAQ:XEL) last posted its earnings results on Wednesday, July 29th. The company reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.14. The business had revenue of $3.12 billion for the quarter, compared to analyst estimates of $3.54 billion. Xcel Energy had a net margin of 15.28% and a return on equity of 10.65%. The company’s revenue for the quarter was down 5.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.59 EPS. On average, equities research analysts predict that Xcel Energy Inc. will post 4.11 EPS for the current year.

Xcel Energy Announces Dividend

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

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.