JPMorgan Chase & Co. Raises Stock Holdings in Xcel Energy Inc. $XEL

JPMorgan Chase & Co. increased its holdings in shares of Xcel Energy Inc. (NASDAQ:XEL) by 16.9% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 24,572,438 shares of the company’s stock after acquiring an additional 3,546,423 shares during the period. JPMorgan Chase & Co. owned about 4.15% of Xcel Energy worth $1,814,920,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of XEL. Bank of America Corp DE lifted its stake in shares of Xcel Energy by 9.9% during the 3rd quarter. Bank of America Corp DE now owns 28,851,485 shares of the company’s stock worth $2,326,872,000 after acquiring an additional 2,589,406 shares during the last quarter. Barclays PLC lifted its stake in shares of Xcel Energy by 54.3% during the 3rd quarter. Barclays PLC now owns 6,098,386 shares of the company’s stock worth $491,835,000 after acquiring an additional 2,145,063 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Xcel Energy by 2.7% during the 3rd quarter. Vanguard Group Inc. now owns 76,725,720 shares of the company’s stock worth $6,187,929,000 after acquiring an additional 2,001,018 shares during the last quarter. State Street Corp lifted its stake in shares of Xcel Energy by 5.1% during the 3rd quarter. State Street Corp now owns 35,896,553 shares of the company’s stock worth $2,914,984,000 after acquiring an additional 1,752,296 shares during the last quarter. Finally, Raymond James Financial Inc. lifted its stake in shares of Xcel Energy by 100.3% during the 2nd quarter. Raymond James Financial Inc. now owns 2,519,061 shares of the company’s stock worth $171,548,000 after acquiring an additional 1,261,439 shares during the last quarter. 78.38% of the stock is owned by institutional investors.

Xcel Energy Trading Down 1.8%

Shares of NASDAQ XEL opened at $77.62 on Tuesday. The company has a quick ratio of 0.68, a current ratio of 0.77 and a debt-to-equity ratio of 1.45. The business has a fifty day simple moving average of $79.80 and a two-hundred day simple moving average of $78.47. The firm has a market cap of $48.46 billion, a PE ratio of 22.37, a price-to-earnings-growth ratio of 2.05 and a beta of 0.39. Xcel Energy Inc. has a twelve month low of $65.21 and a twelve month high of $84.23.

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

Xcel Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 20th. Shareholders of record on Monday, June 15th will be given a dividend of $0.5925 per share. The ex-dividend date of this dividend is Monday, June 15th. This represents a $2.37 dividend on an annualized basis and a yield of 3.1%. Xcel Energy’s payout ratio is 68.30%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Barclays decreased their price target on Xcel Energy from $91.00 to $87.00 and set an “overweight” rating for the company in a research note on Tuesday, May 12th. Argus set a $86.00 price target on Xcel Energy in a research note on Thursday, March 12th. BMO Capital Markets raised their price target on Xcel Energy from $90.00 to $94.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 22nd. Truist Financial decreased their price target on Xcel Energy from $95.00 to $92.00 and set a “buy” rating for the company in a research note on Monday, May 18th. Finally, Wall Street Zen lowered Xcel Energy from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Three research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $90.63.

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.