Raleigh Capital Management Inc. Sells 7,710 Shares of Xcel Energy Inc. $XEL

Raleigh Capital Management Inc. lowered its position in Xcel Energy Inc. (NASDAQ:XEL) by 30.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 17,564 shares of the company’s stock after selling 7,710 shares during the quarter. Raleigh Capital Management Inc.’s holdings in Xcel Energy were worth $1,395,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Quadrant Capital Group LLC raised its holdings in shares of Xcel Energy by 1.7% in the 3rd quarter. Quadrant Capital Group LLC now owns 7,358 shares of the company’s stock valued at $593,000 after purchasing an additional 125 shares during the period. Bleakley Financial Group LLC grew its holdings in Xcel Energy by 0.5% during the fourth quarter. Bleakley Financial Group LLC now owns 28,949 shares of the company’s stock worth $2,138,000 after purchasing an additional 131 shares during the period. Hills Bank & Trust Co grew its holdings in Xcel Energy by 2.2% during the fourth quarter. Hills Bank & Trust Co now owns 6,184 shares of the company’s stock worth $457,000 after purchasing an additional 133 shares during the period. Keel Point LLC increased its position in Xcel Energy by 2.6% during the fourth quarter. Keel Point LLC now owns 5,485 shares of the company’s stock worth $405,000 after buying an additional 137 shares during the last quarter. Finally, GeoWealth Management LLC increased its position in Xcel Energy by 4.8% during the third quarter. GeoWealth Management LLC now owns 3,185 shares of the company’s stock worth $257,000 after buying an additional 145 shares during the last quarter. Institutional investors own 78.38% of the company’s stock.

Analyst Upgrades and Downgrades

XEL has been the subject of a number of recent analyst reports. Truist Financial cut their price objective on Xcel Energy from $95.00 to $92.00 and set a “buy” rating for the company in a research report on Monday, May 18th. BMO Capital Markets boosted their target price on Xcel Energy from $90.00 to $94.00 and gave the stock an “outperform” rating in a report on Wednesday, April 22nd. Argus set a $86.00 price target on Xcel Energy in a research note on Thursday, March 12th. New Street Research set a $91.00 price target on Xcel Energy in a report on Tuesday, June 23rd. Finally, JPMorgan Chase & Co. cut their price target on Xcel Energy from $94.00 to $91.00 and set an “overweight” rating for the company in a report on Thursday, May 14th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Xcel Energy has an average rating of “Buy” and an average target price of $91.29.

Xcel Energy Price Performance

XEL opened at $81.96 on Friday. Xcel Energy Inc. has a fifty-two week low of $66.56 and a fifty-two week high of $84.23. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.68 and a current ratio of 0.77. The stock has a fifty day moving average of $79.61 and a 200-day moving average of $78.63. The company has a market capitalization of $51.17 billion, a P/E ratio of 23.62, a P/E/G ratio of 2.13 and a beta of 0.39.

Xcel Energy (NASDAQ:XEL) last issued its quarterly earnings results on Wednesday, April 29th. The company reported $0.91 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.91. The business had revenue of $4.02 billion for the quarter, compared to the consensus estimate of $4.21 billion. Xcel Energy had a return on equity of 10.37% and a net margin of 14.14%.The firm’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.84 earnings per share. On average, equities analysts expect that Xcel Energy Inc. will post 4.11 EPS for the current year.

Xcel Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 20th. Shareholders of record on Monday, June 15th will be paid a dividend of $0.5925 per share. The ex-dividend date is Monday, June 15th. This represents a $2.37 annualized dividend and a yield of 2.9%. Xcel Energy’s dividend payout ratio is presently 68.30%.

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.