HITE Hedge Asset Management LLC Has $123.25 Million Stock Holdings in Xcel Energy Inc. $XEL

HITE Hedge Asset Management LLC raised its stake in shares of Xcel Energy Inc. (NASDAQ:XEL) by 42.7% in the 4th quarter, HoldingsChannel reports. The firm owned 1,668,743 shares of the company’s stock after purchasing an additional 499,170 shares during the period. Xcel Energy makes up 7.9% of HITE Hedge Asset Management LLC’s portfolio, making the stock its 2nd biggest position. HITE Hedge Asset Management LLC’s holdings in Xcel Energy were worth $123,253,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Y Intercept Hong Kong Ltd lifted its position in Xcel Energy by 174.6% during the fourth quarter. Y Intercept Hong Kong Ltd now owns 65,978 shares of the company’s stock valued at $4,873,000 after purchasing an additional 41,948 shares during the last quarter. Cohen & Steers Inc. lifted its position in Xcel Energy by 3.2% during the fourth quarter. Cohen & Steers Inc. now owns 1,138,406 shares of the company’s stock valued at $84,083,000 after purchasing an additional 35,010 shares during the last quarter. Wealthspire Advisors LLC lifted its position in Xcel Energy by 64.3% during the fourth quarter. Wealthspire Advisors LLC now owns 5,575 shares of the company’s stock valued at $412,000 after purchasing an additional 2,181 shares during the last quarter. Teilinger Capital Ltd. lifted its position in Xcel Energy by 73.2% during the fourth quarter. Teilinger Capital Ltd. now owns 355,000 shares of the company’s stock valued at $26,220,000 after purchasing an additional 150,000 shares during the last quarter. Finally, Quadrant Capital Group LLC lifted its position in Xcel Energy by 3.2% during the fourth quarter. Quadrant Capital Group LLC now owns 7,596 shares of the company’s stock valued at $561,000 after purchasing an additional 238 shares during the last quarter. 78.38% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have issued reports on XEL shares. Truist Financial dropped their target price on shares of Xcel Energy from $95.00 to $92.00 and set a “buy” rating for the company in a research report on Monday, May 18th. UBS Group lifted their target price on shares of Xcel Energy from $89.00 to $91.00 and gave the company a “buy” rating in a research report on Monday, April 20th. BMO Capital Markets lifted their target price on shares of Xcel Energy from $90.00 to $94.00 and gave the company an “outperform” rating in a research report on Wednesday, April 22nd. Barclays dropped their target price on shares of Xcel Energy from $91.00 to $87.00 and set an “overweight” rating for the company in a research report on Tuesday, May 12th. Finally, Weiss Ratings upgraded shares of Xcel Energy from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, March 20th. Three research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $90.63.

Xcel Energy Trading Up 1.2%

Shares of XEL opened at $79.22 on Friday. The firm has a market cap of $49.45 billion, a price-to-earnings ratio of 22.83, a PEG ratio of 2.03 and a beta of 0.39. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.68 and a current ratio of 0.77. Xcel Energy Inc. has a fifty-two week low of $65.21 and a fifty-two week high of $84.23. The firm has a 50 day moving average price of $79.74 and a 200-day moving average price of $78.44.

Xcel Energy (NASDAQ:XEL) last announced its quarterly earnings data on Wednesday, April 29th. The company reported $0.91 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.91. The firm had revenue of $4.02 billion during the quarter, compared to analyst estimates of $4.21 billion. Xcel Energy had a net margin of 14.14% and a return on equity of 10.37%. The business’s quarterly revenue was up 2.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.84 EPS. As a group, equities research analysts forecast that Xcel Energy Inc. will post 4.11 earnings per share for the current year.

Xcel Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 20th. Stockholders of record on Monday, June 15th will be issued a $0.5925 dividend. This represents a $2.37 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date is Monday, June 15th. Xcel Energy’s payout ratio is presently 68.30%.

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.