Xcel Energy Inc. $XEL Stock: Reinhart Partners LLC. Lowers Position

by · The Markets Daily

Reinhart Partners LLC. lessened its position in Xcel Energy Inc. (NASDAQ:XEL – Free Report) by 16.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 62,687 shares of the company’s stock after selling 11,990 shares during the period. Reinhart Partners LLC.’s holdings in Xcel Energy were worth $4,418,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of XEL. KCM Investment Advisors LLC boosted its position in Xcel Energy by 1.9% during the first quarter. KCM Investment Advisors LLC now owns 7,549 shares of the company’s stock worth $600,000 after acquiring an additional 140 shares during the last quarter. Cidel Asset Management Inc. raised its holdings in Xcel Energy by 3.3% in the 2nd quarter. Cidel Asset Management Inc. now owns 4,692 shares of the company’s stock valued at $377,000 after acquiring an additional 149 shares during the last quarter. Ullmann Wealth Partners Group LLC lifted its stake in shares of Xcel Energy by 5.5% during the 4th quarter. Ullmann Wealth Partners Group LLC now owns 2,998 shares of the company’s stock worth $243,000 after purchasing an additional 155 shares during the period. Birchwood Financial Partners Inc. boosted its holdings in shares of Xcel Energy by 1.7% during the first quarter. Birchwood Financial Partners Inc. now owns 9,252 shares of the company’s stock worth $735,000 after purchasing an additional 158 shares during the last quarter. Finally, Anchyra Partners LLC boosted its holdings in shares of Xcel Energy by 4.4% during the first quarter. Anchyra Partners LLC now owns 3,910 shares of the company’s stock worth $311,000 after purchasing an additional 165 shares during the last quarter. Hedge funds and other institutional investors own 78.38% of the company’s stock.

Analyst Upgrades and Downgrades

XEL has been the subject of several analyst reports. BMO Capital Markets dropped their target price on Xcel Energy from $95.00 to $92.00 and set an “outperform” rating for the company in a research note on Wednesday, July 22nd. Wall Street Zen raised Xcel Energy from a “sell” rating to a “hold” rating in a research note on Saturday, September 26th. Truist Financial lowered their price target on Xcel Energy from $94.00 to $88.00 and set a “buy” rating for the company in a report on Thursday, August 13th. Scotiabank started coverage on shares of Xcel Energy in a report on Tuesday, September 29th. They set a “sector outperform” rating and a $77.00 price objective on the stock. Finally, JPMorgan Chase & Co. raised their target price on shares of Xcel Energy from $91.00 to $102.00 and gave the stock an “overweight” rating in a research report on Thursday, July 16th. Three research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $91.65.

Get Our Latest Analysis on XEL

Xcel Energy Trading Up 0.6%

Shares of XEL opened at $73.78 on Friday. Xcel Energy Inc. has a twelve month low of $68.72 and a twelve month high of $84.23. The firm has a market capitalization of $46.09 billion, a P/E ratio of 20.21, a price-to-earnings-growth ratio of 2.48 and a beta of 0.36. The company has a current ratio of 0.70, a quick ratio of 0.62 and a debt-to-equity ratio of 1.49. The stock’s fifty day simple moving average is $75.04 and its 200 day simple moving average is $78.05.

Xcel Energy (NASDAQ:XEL – Get Free Report) last posted its quarterly earnings results on Wednesday, July 29th. The company reported $0.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.79 by $0.14. The firm 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 quarterly revenue was down 5.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.59 earnings per share. On average, equities research analysts forecast that Xcel Energy Inc. will post 4.12 earnings per share for the current year.

Xcel Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 20th. Stockholders of record on Tuesday, September 15th will be issued a dividend of $0.5925 per share. The ex-dividend date is Tuesday, September 15th. This represents a $2.37 dividend on an annualized basis and a dividend yield of 3.2%. Xcel Energy’s payout ratio is presently 64.93%.

Xcel Energy Company Profile

(Free Report)

Xcel Energy Inc is a Minneapolis-based energy company that provides electricity and natural gas through regulated utility operations. Its businesses generate, transmit, distribute and sell electricity, as well as distribute natural gas to residential, commercial and industrial customers.

Through its operating companies, Xcel Energy serves customers in Colorado, Michigan, Minnesota, New Mexico, North Dakota, South Dakota, Texas and Wisconsin. The company’s operations include a diverse generation portfolio featuring wind, solar, hydroelectric, nuclear, natural gas and other energy resources.

Further Reading

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