Centric Wealth Management Makes New Investment in Xcel Energy Inc. $XEL

Centric Wealth Management bought a new stake in Xcel Energy Inc. (NASDAQ:XEL) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 6,763 shares of the company’s stock, valued at approximately $537,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of XEL. State of Wyoming bought a new position in shares of Xcel Energy in the 2nd quarter valued at $220,000. GSA Capital Partners LLP bought a new stake in Xcel Energy during the 2nd quarter worth $763,000. Avalon Trust Co bought a new stake in Xcel Energy during the 2nd quarter worth $121,000. BIP Wealth LLC acquired a new position in Xcel Energy in the 2nd quarter worth about $348,000. Finally, Oppenheimer Asset Management Inc. acquired a new position in Xcel Energy in the 2nd quarter worth about $1,124,000. Institutional investors own 78.38% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. UBS Group boosted their price target on Xcel Energy from $89.00 to $91.00 and gave the stock a “buy” rating in a report on Monday, April 20th. KeyCorp reiterated an “overweight” rating on shares of Xcel Energy in a report on Monday, June 8th. Truist Financial reduced their price objective on shares of Xcel Energy from $94.00 to $88.00 and set a “buy” rating on the stock in a research note on Thursday. Morgan Stanley set a $89.00 price target on Xcel Energy in a research report on Wednesday, June 24th. Finally, BMO Capital Markets lowered their price objective on Xcel Energy from $95.00 to $92.00 and set an “outperform” rating for the company in a research report on Wednesday, July 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $92.41.

Xcel Energy Price Performance

Shares of NASDAQ XEL opened at $79.17 on Friday. Xcel Energy Inc. has a twelve month low of $69.16 and a twelve month high of $84.23. The firm has a fifty day simple moving average of $79.32 and a 200 day simple moving average of $79.61. The company has a market capitalization of $49.45 billion, a PE ratio of 21.69, a P/E/G ratio of 2.06 and a beta of 0.39. The company has a quick ratio of 0.62, a current ratio of 0.70 and a debt-to-equity ratio of 1.49.

Xcel Energy (NASDAQ:XEL) last released its earnings results on Thursday, July 30th. The company reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.14. Xcel Energy had a net margin of 15.28% and a return on equity of 10.65%. The business had revenue of $3.12 billion for the quarter, compared to analyst estimates of $3.54 billion. During the same quarter in the previous year, the business earned $1.59 earnings per share. Xcel Energy’s revenue for the quarter was down 5.1% on a year-over-year basis. On average, sell-side analysts forecast that Xcel Energy Inc. will post 4.11 EPS for the current year.

Xcel Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 20th. Investors of record on Tuesday, September 15th will be given a dividend of $0.5925 per share. The ex-dividend date is Tuesday, September 15th. This represents a $2.37 annualized dividend and a dividend yield of 3.0%. Xcel Energy’s dividend payout ratio is presently 64.93%.

About Xcel Energy

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.