Primecap Management Co. CA Purchases Shares of 496,300 Xcel Energy Inc. $XEL

Primecap Management Co. CA acquired a new position in shares of Xcel Energy Inc. (NASDAQ:XEL) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 496,300 shares of the company’s stock, valued at approximately $39,853,000. Primecap Management Co. CA owned 0.08% of Xcel Energy at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of XEL. Evolution Wealth Management Inc. grew its stake in 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 purchasing an additional 274 shares in the last quarter. Garton & Associates Financial Advisors LLC acquired a new stake in Xcel Energy in the 4th quarter valued at about $30,000. Pittenger & Anderson Inc. raised its position in Xcel Energy by 73.8% in 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 in the last quarter. Advocate Investing Services LLC purchased a new position in shares of Xcel Energy in the 4th quarter valued at about $38,000. Finally, Cedar Mountain Advisors LLC purchased a new position in shares of Xcel Energy in the 1st quarter valued at about $39,000. 78.38% of the stock is currently owned by hedge funds and other institutional investors.

Xcel Energy Trading Up 0.6%

XEL opened at $77.68 on Thursday. Xcel Energy Inc. has a one year low of $71.29 and a one year high of $84.23. The company has a market cap of $48.52 billion, a P/E ratio of 21.28, a PEG ratio of 2.00 and a beta of 0.39. 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 business’s 50-day simple moving average is $79.28 and its 200-day simple moving average is $79.76.

Xcel Energy (NASDAQ:XEL) last issued its earnings results on Wednesday, July 29th. The company reported $0.93 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.14. The business had revenue of $3.12 billion for the quarter, compared to analyst estimates of $3.54 billion. Xcel Energy had a return on equity of 10.65% and a net margin of 15.28%.The business’s quarterly revenue was down 5.1% on a year-over-year basis. During the same quarter last year, the company earned $1.59 EPS. As a group, equities research analysts expect that Xcel Energy Inc. will post 4.12 EPS for the current fiscal year.

Xcel Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 20th. Shareholders of record on Tuesday, September 15th will be issued a dividend of $0.5925 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $2.37 dividend on an annualized basis and a yield of 3.1%. Xcel Energy’s dividend payout ratio (DPR) is presently 64.93%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Evercore reissued an “outperform” rating and set a $96.00 price objective on shares of Xcel Energy in a research report on Monday, May 4th. JPMorgan Chase & Co. lifted their price target on shares of Xcel Energy from $91.00 to $102.00 and gave the stock an “overweight” rating in a research note on Thursday, July 16th. Jefferies Financial Group set a $101.00 price target on shares of Xcel Energy in a report on Tuesday, July 7th. Mizuho set a $92.00 price objective on shares of Xcel Energy in a research report on Friday, July 31st. Finally, 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 report on Thursday, August 13th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $92.41.

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.