Elevation Point Wealth Partners LLC Invests $4.24 Million in Xcel Energy Inc. $XEL

Elevation Point Wealth Partners LLC bought a new position in Xcel Energy Inc. (NASDAQ:XEL) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 52,445 shares of the company’s stock, valued at approximately $4,235,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of Xcel Energy by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 77,610,805 shares of the company’s stock valued at $5,732,334,000 after purchasing an additional 885,085 shares during the period. BlackRock Inc. purchased a new position in Xcel Energy in the 2nd quarter worth about $4,890,136,000. State Street Corp increased its stake in Xcel Energy by 1.2% in the 4th quarter. State Street Corp now owns 36,340,645 shares of the company’s stock worth $2,704,534,000 after purchasing an additional 444,092 shares in the last quarter. Bank of America Corp DE raised its holdings in Xcel Energy by 5.9% during the 1st quarter. Bank of America Corp DE now owns 29,441,811 shares of the company’s stock worth $2,338,858,000 after buying an additional 1,637,890 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in Xcel Energy by 16.9% during the 4th quarter. JPMorgan Chase & Co. now owns 24,572,438 shares of the company’s stock worth $1,814,920,000 after buying an additional 3,546,423 shares during the period. 78.38% of the stock is owned by institutional investors and hedge funds.

Xcel Energy Trading Down 3.1%

Shares of NASDAQ XEL opened at $76.30 on Friday. The company has a current ratio of 0.70, a quick ratio of 0.62 and a debt-to-equity ratio of 1.49. Xcel Energy Inc. has a one year low of $71.29 and a one year high of $84.23. The business has a 50-day moving average price of $79.35 and a two-hundred day moving average price of $79.70. The firm has a market capitalization of $47.66 billion, a PE ratio of 20.90, a PEG ratio of 1.98 and a beta of 0.39.

Xcel Energy (NASDAQ:XEL) last issued its earnings results on Wednesday, July 29th. The company reported $0.93 earnings per share for the quarter, beating analysts’ consensus estimates of $0.79 by $0.14. The company had revenue of $3.12 billion for the quarter, compared to the consensus estimate of $3.54 billion. Xcel Energy had a return on equity of 10.65% and a net margin of 15.28%.The firm’s quarterly revenue was down 5.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.59 EPS. As a group, analysts predict that Xcel Energy Inc. will post 4.12 earnings per share 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. Investors of record on Tuesday, September 15th will be given 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 payout ratio is presently 64.93%.

Analyst Upgrades and Downgrades

Several research analysts have commented on XEL shares. KeyCorp reiterated an “overweight” rating on shares of Xcel Energy in a report on Monday, June 8th. Mizuho set a $92.00 price target on shares of Xcel Energy in a report on Friday, July 31st. Jefferies Financial Group set a $101.00 price target on shares of Xcel Energy in a research report on Tuesday, July 7th. BMO Capital Markets reduced their price target 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. Finally, Wall Street Zen lowered shares of Xcel Energy from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. 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 stock. Based on data from MarketBeat.com, Xcel Energy presently has a consensus rating of “Buy” and a consensus price target 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.