Xcel Energy Inc. $XEL Shares Acquired by Townsend & Associates Inc

Townsend & Associates Inc increased its position in Xcel Energy Inc. (NASDAQ:XEL) by 38.0% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 8,486 shares of the company’s stock after acquiring an additional 2,338 shares during the period. Townsend & Associates Inc’s holdings in Xcel Energy were worth $617,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Navellier & Associates Inc. purchased a new stake in shares of Xcel Energy during the first quarter valued at $2,735,000. J.W. Cole Advisors Inc. acquired a new position in Xcel Energy in the 1st quarter worth about $905,000. Financial Gravity Asset Management Inc. acquired a new position in Xcel Energy in the 1st quarter worth about $329,000. Pinnacle Financial Partners Inc acquired a new position in Xcel Energy in the 1st quarter worth about $267,000. Finally, Electron Capital Partners LLC increased its position in Xcel Energy by 93.7% in the 1st quarter. Electron Capital Partners LLC now owns 1,921,636 shares of the company’s stock worth $136,033,000 after purchasing an additional 929,516 shares during the last quarter. 78.38% of the stock is owned by hedge funds and other institutional investors.

Xcel Energy Stock Performance

XEL opened at $81.16 on Monday. The firm has a market capitalization of $48.00 billion, a P/E ratio of 22.48, a price-to-earnings-growth ratio of 2.86 and a beta of 0.37. The stock’s 50 day moving average price is $75.40 and its two-hundred day moving average price is $71.68. The company has a quick ratio of 0.85, a current ratio of 0.96 and a debt-to-equity ratio of 1.48. Xcel Energy Inc. has a 12-month low of $62.58 and a 12-month high of $83.01.

Xcel Energy (NASDAQ:XEL) last released its earnings results on Thursday, July 31st. The company reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.09. The firm had revenue of $3.29 billion for the quarter, compared to analyst estimates of $3.31 billion. Xcel Energy had a return on equity of 10.52% and a net margin of 14.85%.The company’s revenue was up 8.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.54 EPS. Xcel Energy has set its FY 2025 guidance at 3.750-3.850 EPS. On average, equities analysts forecast that Xcel Energy Inc. will post 3.82 earnings per share for the current year.

Xcel Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 20th. Shareholders of record on Monday, September 15th will be issued a $0.57 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $2.28 dividend on an annualized basis and a yield of 2.8%. Xcel Energy’s dividend payout ratio (DPR) is 63.16%.

Analysts Set New Price Targets

Several brokerages have weighed in on XEL. Cowen assumed coverage on Xcel Energy in a research report on Wednesday. They issued a “buy” rating on the stock. Evercore ISI assumed coverage on Xcel Energy in a report on Monday, October 6th. They set an “outperform” rating and a $92.00 price objective on the stock. Jefferies Financial Group increased their price objective on Xcel Energy from $84.00 to $92.00 and gave the company a “buy” rating in a report on Thursday. Barclays increased their price objective on Xcel Energy from $72.00 to $81.00 and gave the company an “overweight” rating in a report on Monday, September 29th. Finally, Bank of America increased their price objective on Xcel Energy from $78.00 to $84.00 and gave the company a “buy” rating in a report on Thursday, September 25th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $84.92.

Xcel Energy Company Profile

Xcel Energy Inc, through its subsidiaries, engages in the generation, purchasing, transmission, distribution, and sale of electricity. It operates through Regulated Electric Utility, Regulated Natural Gas Utility, and All Other segments. The company generates electricity through wind, nuclear, hydroelectric, biomass, and solar energy sources, as well as coal, natural gas, oil, wood, and refuse-derived fuels.