NEOS Investment Management LLC Buys 64,002 Shares of Xcel Energy Inc. $XEL

NEOS Investment Management LLC lifted its stake in Xcel Energy Inc. (NASDAQ:XEL) by 15.8% in the second quarter, Holdings Channel.com reports. The firm owned 470,337 shares of the company’s stock after buying an additional 64,002 shares during the period. NEOS Investment Management LLC’s holdings in Xcel Energy were worth $37,768,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of XEL. Evolution Wealth Management Inc. raised its holdings in Xcel Energy by 365.3% during the 1st quarter. Evolution Wealth Management Inc. now owns 349 shares of the company’s stock valued at $28,000 after buying an additional 274 shares during the period. Pin Oak Investment Advisors Inc. purchased a new position in Xcel Energy during the second quarter worth $29,000. Garton & Associates Financial Advisors LLC bought a new position in Xcel Energy during the fourth quarter valued at $30,000. First Bancorp Inc ME bought a new position in Xcel Energy during the second quarter valued at $36,000. Finally, Cedar Mountain Advisors LLC bought a new position in Xcel Energy during the first quarter valued at $39,000. Institutional investors own 78.38% of the company’s stock.

Wall Street Analyst Weigh In

XEL has been the subject of several analyst reports. KeyCorp restated an “overweight” rating on shares of Xcel Energy in a report on Monday, June 8th. 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. Morgan Stanley reduced their price objective on shares of Xcel Energy from $92.00 to $89.00 and set an “equal weight” rating on the stock in a research report on Friday, August 21st. Wall Street Zen downgraded shares of Xcel Energy from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Finally, New Street Research set a $91.00 target price on Xcel Energy in a research report on Tuesday, June 23rd. 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. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $92.41.

Xcel Energy Stock Performance

Xcel Energy stock opened at $76.34 on Friday. 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 $47.68 billion, a PE ratio of 20.92, a P/E/G ratio of 2.56 and a beta of 0.39. The company has a 50 day moving average price of $78.88 and a 200-day moving average price of $79.68. Xcel Energy Inc. has a fifty-two week low of $71.29 and a fifty-two week high of $84.23.

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. Xcel Energy had a return on equity of 10.65% and a net margin of 15.28%.The business had revenue of $3.12 billion during the quarter, compared to analysts’ expectations of $3.54 billion. During the same period in the prior year, the business earned $1.59 EPS. The business’s revenue for the quarter was down 5.1% compared to the same quarter last year. As a group, equities analysts forecast that Xcel Energy Inc. will post 4.11 earnings per share for the current year.

Xcel Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 20th. Stockholders of record on Tuesday, September 15th will be given a $0.5925 dividend. This represents a $2.37 annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend is Tuesday, September 15th. Xcel Energy’s dividend payout ratio is presently 64.93%.

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.