TruNorth Capital Management LLC Reduces Stock Position in Xcel Energy Inc. $XEL

TruNorth Capital Management LLC cut its holdings in Xcel Energy Inc. (NASDAQ:XEL) by 61.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 557 shares of the company’s stock after selling 906 shares during the period. TruNorth Capital Management LLC’s holdings in Xcel Energy were worth $38,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. LCM Capital Management Inc raised its position in Xcel Energy by 4.3% during the second quarter. LCM Capital Management Inc now owns 3,572 shares of the company’s stock worth $243,000 after acquiring an additional 147 shares during the last quarter. Conning Inc. lifted its position in shares of Xcel Energy by 4.1% in the first quarter. Conning Inc. now owns 4,400 shares of the company’s stock valued at $311,000 after acquiring an additional 172 shares in the last quarter. Redhawk Wealth Advisors Inc. boosted its stake in shares of Xcel Energy by 4.3% during the first quarter. Redhawk Wealth Advisors Inc. now owns 4,406 shares of the company’s stock valued at $312,000 after acquiring an additional 182 shares during the last quarter. First Horizon Advisors Inc. increased its position in Xcel Energy by 3.1% during the 1st quarter. First Horizon Advisors Inc. now owns 5,998 shares of the company’s stock worth $425,000 after purchasing an additional 183 shares in the last quarter. Finally, First National Advisers LLC raised its stake in Xcel Energy by 0.5% in the 1st quarter. First National Advisers LLC now owns 33,930 shares of the company’s stock valued at $2,401,000 after purchasing an additional 183 shares during the last quarter. 78.38% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Mizuho set a $83.00 price objective on shares of Xcel Energy in a research note on Thursday, September 25th. Barclays boosted their price target on Xcel Energy from $72.00 to $81.00 and gave the company an “overweight” rating in a report on Monday. Bank of America raised their price objective on Xcel Energy from $78.00 to $84.00 and gave the stock a “buy” rating in a report on Thursday, September 25th. UBS Group set a $82.00 target price on Xcel Energy in a research note on Thursday, September 25th. Finally, Morgan Stanley reduced their target price on Xcel Energy from $81.00 to $80.00 and set an “equal weight” rating on the stock in a research report on Thursday, September 25th. Nine investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $80.36.

Xcel Energy Stock Down 0.4%

Shares of NASDAQ:XEL opened at $80.31 on Thursday. The company has a market capitalization of $47.50 billion, a price-to-earnings ratio of 22.25, a price-to-earnings-growth ratio of 2.72 and a beta of 0.37. The company has a 50 day moving average of $73.48 and a two-hundred day moving average of $70.74. Xcel Energy Inc. has a 52-week low of $62.12 and a 52-week high of $81.15. 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 (NASDAQ:XEL) last announced its earnings results on Thursday, July 31st. The company reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.09. The business had revenue of $3.29 billion during the quarter, compared to the consensus estimate of $3.31 billion. Xcel Energy had a net margin of 14.85% and a return on equity of 10.52%. The business’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.54 earnings per share. Xcel Energy has set its FY 2025 guidance at 3.750-3.850 EPS. As a group, analysts forecast 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. Stockholders of record on Monday, September 15th will be given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend is Monday, September 15th. Xcel Energy’s payout ratio is presently 63.16%.

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.