Freestone Grove Partners LP Invests $64.10 Million in Xcel Energy Inc. $XEL

Freestone Grove Partners LP purchased a new stake in shares of Xcel Energy Inc. (NASDAQ:XEL) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 798,283 shares of the company’s stock, valued at approximately $64,102,000. Freestone Grove Partners LP owned approximately 0.13% of Xcel Energy as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently modified their holdings of the company. Bank of New York Mellon Corp bought a new position in Xcel Energy in the second quarter worth about $280,187,000. Cbre Investment Management Listed Real Assets LLC boosted its holdings in shares of Xcel Energy by 18.1% in the 4th quarter. Cbre Investment Management Listed Real Assets LLC now owns 2,324,667 shares of the company’s stock valued at $171,700,000 after buying an additional 356,208 shares in the last quarter. PKO Investment Management Joint Stock Co bought a new stake in shares of Xcel Energy in the 4th quarter valued at about $1,477,000. Electron Capital Partners LLC grew its position in shares of Xcel Energy by 15.2% in the 4th quarter. Electron Capital Partners LLC now owns 1,936,695 shares of the company’s stock worth $143,044,000 after buying an additional 255,884 shares during the last quarter. Finally, Reaves W H & Co. Inc. grew its position in shares of Xcel Energy by 13.1% in the 4th quarter. Reaves W H & Co. Inc. now owns 3,579,918 shares of the company’s stock worth $264,413,000 after buying an additional 415,759 shares during the last quarter. Hedge funds and other institutional investors own 78.38% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on XEL shares. KeyCorp reiterated an “overweight” rating on shares of Xcel Energy in a research note on Monday, June 8th. Barclays raised their target price on shares of Xcel Energy from $87.00 to $90.00 and gave the company an “overweight” rating in a research note on Thursday, July 9th. Truist Financial cut their price target 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. BMO Capital Markets reduced their price target on Xcel Energy from $95.00 to $92.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 22nd. Finally, Jefferies Financial Group set a $101.00 price objective on Xcel Energy in a report on Tuesday, July 7th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $92.41.

Xcel Energy Stock Performance

XEL opened at $77.68 on Thursday. Xcel Energy Inc. has a 52-week low of $71.29 and a 52-week high of $84.23. The company has a quick ratio of 0.62, a current ratio of 0.70 and a debt-to-equity ratio of 1.49. The company has a market cap of $48.52 billion, a P/E ratio of 21.28, a price-to-earnings-growth ratio of 2.00 and a beta of 0.39. The firm’s 50-day moving average price is $79.28 and its 200-day moving average price is $79.76.

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

Xcel Energy Dividend Announcement

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

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.