OneAscent Financial Services LLC Makes New $794,000 Investment in Xcel Energy Inc. $XEL

OneAscent Financial Services LLC acquired a new stake in Xcel Energy Inc. (NASDAQ:XEL) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 9,893 shares of the company’s stock, valued at approximately $794,000.

A number of other hedge funds also recently made changes to their positions in XEL. Evolution Wealth Management Inc. increased its holdings in shares of Xcel Energy by 365.3% during the 1st quarter. Evolution Wealth Management Inc. now owns 349 shares of the company’s stock worth $28,000 after acquiring an additional 274 shares during the last quarter. Garton & Associates Financial Advisors LLC acquired a new stake in Xcel Energy during the 4th quarter valued at $30,000. Pittenger & Anderson Inc. lifted its holdings in Xcel Energy by 73.8% during the 4th quarter. Pittenger & Anderson Inc. now owns 471 shares of the company’s stock valued at $35,000 after purchasing an additional 200 shares during the last quarter. Advocate Investing Services LLC bought a new position in Xcel Energy during the fourth quarter worth $38,000. Finally, Cedar Mountain Advisors LLC bought a new position in Xcel Energy during the first quarter worth $39,000. 78.38% of the stock is owned by institutional investors and hedge funds.

Xcel Energy Stock Down 0.9%

XEL opened at $78.71 on Friday. Xcel Energy Inc. has a fifty-two week low of $71.29 and a fifty-two week high of $84.23. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.62 and a current ratio of 0.70. The company has a market capitalization of $49.16 billion, a P/E ratio of 21.56, a P/E/G ratio of 2.06 and a beta of 0.39. The stock has a fifty day moving average of $79.41 and a 200-day moving average of $79.72.

Xcel Energy (NASDAQ:XEL) last released its quarterly earnings results on Wednesday, July 29th. The company reported $0.93 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 the consensus estimate of $3.54 billion. During the same period in the prior year, the company posted $1.59 earnings per share. Xcel Energy’s revenue was down 5.1% compared to the same quarter last year. On average, equities analysts expect that Xcel Energy Inc. will post 4.11 EPS for the current year.

Xcel Energy Dividend Announcement

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

Wall Street Analyst Weigh In

XEL has been the topic of several research analyst reports. Evercore reissued an “outperform” rating and issued a $96.00 price objective on shares of Xcel Energy in a research report on Monday, May 4th. BTIG Research reaffirmed a “buy” rating and set a $99.00 target price on shares of Xcel Energy in a report on Friday, July 31st. Weiss Ratings reiterated a “buy (b-)” rating on shares of Xcel Energy in a research note on Wednesday, June 17th. JPMorgan Chase & Co. increased their price target on shares of Xcel Energy from $91.00 to $102.00 and gave the company an “overweight” rating in a report on Thursday, July 16th. Finally, BMO Capital Markets cut their price objective on shares of 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 investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $92.41.

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.