Envestnet Asset Management Inc. Purchases 148,092 Shares of Xcel Energy Inc. (NASDAQ:XEL)

Posted by MarketBeat News on Aug 2nd, 2022

Envestnet Asset Management Inc. raised its position in Xcel Energy Inc. (NASDAQ:XEL – Get Rating) by 71.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 355,351 shares of the company’s stock after purchasing an additional 148,092 shares during the quarter. Envestnet Asset Management Inc. owned 0.07% of Xcel Energy worth $25,646,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of XEL. HGK Asset Management Inc. acquired a new stake in shares of Xcel Energy in the first quarter valued at about $5,160,000. Metis Global Partners LLC increased its stake in shares of Xcel Energy by 81.2% in the first quarter. Metis Global Partners LLC now owns 8,520 shares of the company’s stock valued at $616,000 after buying an additional 3,819 shares during the period. NatWest Group plc increased its stake in shares of Xcel Energy by 28.3% in the first quarter. NatWest Group plc now owns 24,597 shares of the company’s stock valued at $1,775,000 after buying an additional 5,431 shares during the period. FinTrust Capital Advisors LLC increased its stake in shares of Xcel Energy by 49.5% in the first quarter. FinTrust Capital Advisors LLC now owns 1,150 shares of the company’s stock valued at $82,000 after buying an additional 381 shares during the period. Finally, State of New Jersey Common Pension Fund D increased its stake in shares of Xcel Energy by 1.1% in the first quarter. State of New Jersey Common Pension Fund D now owns 313,179 shares of the company’s stock valued at $22,602,000 after buying an additional 3,290 shares during the period. 75.14% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on XEL shares. KeyCorp increased their price target on Xcel Energy from $78.00 to $79.00 and gave the company an “overweight” rating in a research note on Wednesday, April 20th. Morgan Stanley raised their target price on Xcel Energy from $64.00 to $69.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 21st. UBS Group decreased their target price on Xcel Energy from $74.00 to $71.00 and set a “neutral” rating for the company in a research note on Thursday, June 30th. Credit Suisse Group decreased their target price on Xcel Energy to $77.00 in a research note on Thursday, June 9th. Finally, Barclays decreased their target price on Xcel Energy from $82.00 to $78.00 and set an “overweight” rating for the company in a research note on Monday, July 18th. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, Xcel Energy presently has a consensus rating of “Moderate Buy” and a consensus target price of $73.90.

Insider Activity

In related news, Director Kim Williams sold 2,000 shares of Xcel Energy stock in a transaction on Wednesday, May 25th. The stock was sold at an average price of $76.21, for a total transaction of $152,420.00. Following the sale, the director now directly owns 99,993 shares in the company, valued at $7,620,466.53. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Kim Williams sold 2,000 shares of Xcel Energy stock in a transaction on Wednesday, May 25th. The stock was sold at an average price of $76.21, for a total transaction of $152,420.00. Following the sale, the director now directly owns 99,993 shares in the company, valued at $7,620,466.53. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Brett C. Carter sold 14,000 shares of Xcel Energy stock in a transaction on Monday, May 23rd. The stock was sold at an average price of $74.66, for a total value of $1,045,240.00. Following the sale, the executive vice president now owns 23,617 shares in the company, valued at $1,763,245.22. The disclosure for this sale can be found here. Corporate insiders own 0.05% of the company’s stock.

Xcel Energy Trading Up 0.0 %

Shares of Xcel Energy stock opened at $73.19 on Tuesday. Xcel Energy Inc. has a 52 week low of $61.15 and a 52 week high of $76.63. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.86 and a current ratio of 1.00. The stock has a 50 day moving average price of $70.58 and a two-hundred day moving average price of $70.74. The stock has a market capitalization of $39.86 billion, a PE ratio of 24.32, a price-to-earnings-growth ratio of 3.60 and a beta of 0.34.

Xcel Energy (NASDAQ:XEL – Get Rating) last posted its earnings results on Thursday, July 28th. The company reported $0.60 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.60. Xcel Energy had a return on equity of 10.45% and a net margin of 11.66%. The company had revenue of $3.42 billion for the quarter, compared to analyst estimates of $3.10 billion. During the same quarter last year, the company earned $0.58 earnings per share. The company’s revenue for the quarter was up 11.6% on a year-over-year basis. As a group, equities analysts anticipate that Xcel Energy Inc. will post 3.16 earnings per share for the current fiscal year.

Xcel Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 20th. Stockholders of record on Wednesday, June 15th were issued a $0.4875 dividend. The ex-dividend date was Tuesday, June 14th. This represents a $1.95 dividend on an annualized basis and a dividend yield of 2.66%. Xcel Energy’s dividend payout ratio is presently 64.78%.

About Xcel Energy

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Xcel Energy Inc, through its subsidiaries, generates, purchases, transmits, distributes, and sells electricity. It operates through Regulated Electric Utility, Regulated Natural Gas Utility, and All Other segments. The company generates electricity through coal, nuclear, natural gas, hydroelectric, solar, biomass, oil, wood/refuse, and wind energy sources.