Accredited Investors Inc. Cuts Stake in Xcel Energy Inc. (NASDAQ:XEL)

Posted by Linda Flegge on Feb 2nd, 2023

Accredited Investors Inc. lessened its position in shares of Xcel Energy Inc. (NASDAQ:XEL – Get Rating) by 12.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,791 shares of the company’s stock after selling 1,810 shares during the quarter. Accredited Investors Inc.’s holdings in Xcel Energy were worth $819,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in XEL. HHM Wealth Advisors LLC purchased a new position in Xcel Energy during the 2nd quarter valued at approximately $26,000. Brown Brothers Harriman & Co. grew its holdings in Xcel Energy by 129.1% during the 2nd quarter. Brown Brothers Harriman & Co. now owns 362 shares of the company’s stock valued at $26,000 after buying an additional 204 shares in the last quarter. Burleson & Company LLC purchased a new position in Xcel Energy during the 3rd quarter valued at approximately $32,000. Pinnacle Financial Partners Inc. purchased a new position in Xcel Energy during the 3rd quarter valued at approximately $32,000. Finally, Pinebridge Investments L.P. purchased a new position in Xcel Energy during the 2nd quarter valued at approximately $38,000. Hedge funds and other institutional investors own 77.15% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on XEL shares. Wells Fargo & Company cut their price target on Xcel Energy from $76.00 to $73.00 and set an “equal weight” rating for the company in a report on Friday, January 27th. StockNews.com started coverage on Xcel Energy in a research note on Wednesday, October 12th. They issued a “hold” rating for the company. Wolfe Research raised Xcel Energy from a “peer perform” rating to an “outperform” rating and set a $69.00 price objective for the company in a research note on Thursday, October 20th. UBS Group raised their price objective on Xcel Energy to $68.00 in a research note on Monday, November 21st. Finally, Mizuho lowered their price objective on Xcel Energy from $72.00 to $65.00 and set a “buy” rating for the company in a research note on Wednesday, October 19th. Five analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $70.00.

Insider Activity

In other news, SVP Frank P. Prager sold 1,138 shares of the business’s stock in a transaction dated Wednesday, November 16th. The stock was sold at an average price of $68.48, for a total value of $77,930.24. Following the completion of the transaction, the senior vice president now owns 28,036 shares of the company’s stock, valued at approximately $1,919,905.28. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.05% of the company’s stock.

Xcel Energy Stock Down 0.5 %

Shares of NASDAQ:XEL traded down $0.35 on Thursday, reaching $69.26. The company had a trading volume of 229,929 shares, compared to its average volume of 2,660,956. Xcel Energy Inc. has a 52-week low of $56.89 and a 52-week high of $77.66. The firm’s 50 day simple moving average is $70.00 and its 200-day simple moving average is $68.83. The firm has a market capitalization of $37.90 billion, a PE ratio of 21.96, a PEG ratio of 3.09 and a beta of 0.41. The company has a current ratio of 1.04, a quick ratio of 0.86 and a debt-to-equity ratio of 1.42.

Xcel Energy (NASDAQ:XEL – Get Rating) last posted its quarterly earnings results on Thursday, January 26th. The company reported $0.69 earnings per share for the quarter, meeting the consensus estimate of $0.69. The business had revenue of $4.05 billion for the quarter, compared to the consensus estimate of $3.05 billion. Xcel Energy had a return on equity of 10.83% and a net margin of 11.34%. The company’s quarterly revenue was up 20.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.58 EPS. As a group, analysts expect that Xcel Energy Inc. will post 3.37 earnings per share for the current fiscal year.

Xcel Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 20th. Stockholders of record on Thursday, December 29th were issued a $0.4875 dividend. The ex-dividend date of this dividend was Wednesday, December 28th. This represents a $1.95 annualized dividend and a dividend yield of 2.82%. Xcel Energy’s dividend payout ratio (DPR) is presently 61.51%.

Xcel Energy Company Profile

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Xcel Energy, Inc operates as a holding company engaged in the generation, purchase, transmission, distribution, and sale of electricity. It operates through the following three segments: Regulated Electric Utility, Regulated Natural Gas Utility and All Others. The Regulated Electric Utility segment generates, transmits, and distributes electricity primarily in Minnesota, Wisconsin, Michigan, North Dakota, South Dakota, Colorado, Texas, and New Mexico.