Xcel Energy Inc. (NASDAQ:XEL) Shares Bought by SouthState Corp

SouthState Corp lifted its holdings in Xcel Energy Inc. (NASDAQ:XEL) by 4.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,589 shares of the company’s stock after purchasing an additional 207 shares during the period. SouthState Corp’s holdings in Xcel Energy were worth $325,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in XEL. Accent Capital Management LLC purchased a new position in shares of Xcel Energy in the first quarter worth approximately $29,000. BankPlus Trust Department purchased a new position in shares of Xcel Energy in the first quarter worth approximately $34,000. Rossby Financial LCC purchased a new position in shares of Xcel Energy in the first quarter worth approximately $50,000. Alpine Bank Wealth Management purchased a new position in shares of Xcel Energy in the first quarter worth approximately $53,000. Finally, Itau Unibanco Holding S.A. purchased a new position in shares of Xcel Energy in the fourth quarter worth approximately $52,000. Institutional investors and hedge funds own 78.38% of the company’s stock.

Xcel Energy Price Performance

NASDAQ XEL opened at $72.68 on Tuesday. The company has a quick ratio of 0.85, a current ratio of 0.96 and a debt-to-equity ratio of 1.48. The stock has a market capitalization of $42.99 billion, a PE ratio of 20.13, a price-to-earnings-growth ratio of 2.47 and a beta of 0.34. The company has a 50 day moving average price of $69.63 and a two-hundred day moving average price of $69.46. Xcel Energy Inc. has a 12-month low of $57.43 and a 12-month high of $74.57.

Xcel Energy (NASDAQ:XEL) last posted 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 during the quarter, compared to analysts’ expectations of $3.31 billion. Xcel Energy had a net margin of 14.85% and a return on equity of 10.52%. The company’s revenue was up 8.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.54 earnings per share. As a group, equities analysts predict that Xcel Energy Inc. will post 3.82 earnings per share for the current fiscal 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 paid a $0.57 dividend. The ex-dividend date is Monday, September 15th. This represents a $2.28 dividend on an annualized basis and a yield of 3.1%. Xcel Energy’s payout ratio is 63.16%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on XEL shares. Barclays lifted their target price on shares of Xcel Energy from $72.00 to $73.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 22nd. BMO Capital Markets raised their price target on shares of Xcel Energy from $69.00 to $73.00 and gave the stock a “market perform” rating in a report on Wednesday, April 23rd. Wells Fargo & Company set a $78.00 price target on shares of Xcel Energy and gave the stock an “overweight” rating in a report on Friday, April 25th. Morgan Stanley decreased their price target on shares of Xcel Energy from $78.00 to $77.00 and set an “equal weight” rating for the company in a report on Wednesday, June 18th. Finally, Mizuho raised their price target on shares of Xcel Energy from $74.00 to $78.00 and gave the stock an “outperform” rating in a report on Friday, August 1st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $76.00.

About Xcel Energy

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.