Belpointe Asset Management LLC Purchases New Shares in Xcel Energy Inc. (NASDAQ:XEL)

Belpointe Asset Management LLC bought a new stake in shares of Xcel Energy Inc. (NASDAQ:XELFree Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 4,155 shares of the company’s stock, valued at approximately $257,000.

Other institutional investors have also recently modified their holdings of the company. Turtle Creek Wealth Advisors LLC acquired a new position in shares of Xcel Energy during the 4th quarter worth $25,000. Criterion Capital Advisors LLC acquired a new position in shares of Xcel Energy during the 4th quarter worth $25,000. Pacific Capital Wealth Advisors Inc. acquired a new position in shares of Xcel Energy during the 4th quarter worth $25,000. Heritage Wealth Advisors acquired a new position in shares of Xcel Energy during the 4th quarter worth $25,000. Finally, Capital Analysts LLC raised its holdings in shares of Xcel Energy by 293.6% during the 4th quarter. Capital Analysts LLC now owns 433 shares of the company’s stock worth $26,000 after buying an additional 323 shares in the last quarter. 78.38% of the stock is currently owned by institutional investors.

Xcel Energy Trading Down 0.1 %

Shares of XEL stock opened at $54.74 on Friday. The stock has a market cap of $30.42 billion, a price-to-earnings ratio of 16.44, a PEG ratio of 2.41 and a beta of 0.38. The stock has a 50-day moving average of $54.52 and a 200-day moving average of $57.13. The company has a current ratio of 0.86, a quick ratio of 0.74 and a debt-to-equity ratio of 1.48. Xcel Energy Inc. has a 1-year low of $46.79 and a 1-year high of $65.62.

Xcel Energy (NASDAQ:XELGet Free Report) last issued its quarterly earnings results on Thursday, April 25th. The company reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.08. The company had revenue of $3.65 billion during the quarter, compared to analysts’ expectations of $4.12 billion. Xcel Energy had a return on equity of 11.03% and a net margin of 13.36%. The business’s quarterly revenue was down 10.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.76 earnings per share. On average, equities research analysts forecast that Xcel Energy Inc. will post 3.56 earnings per share for the current year.

Xcel Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, July 20th. Investors of record on Friday, June 14th will be given a dividend of $0.5475 per share. The ex-dividend date is Friday, June 14th. This represents a $2.19 annualized dividend and a dividend yield of 4.00%. Xcel Energy’s payout ratio is 65.77%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on XEL. Wolfe Research raised Xcel Energy from a “peer perform” rating to an “outperform” rating and set a $58.00 price target for the company in a report on Monday, March 11th. JPMorgan Chase & Co. lowered their price target on Xcel Energy from $68.00 to $59.00 and set a “neutral” rating for the company in a report on Wednesday, March 13th. KeyCorp lowered their price target on Xcel Energy from $68.00 to $65.00 and set an “overweight” rating for the company in a report on Friday, April 19th. Evercore ISI upped their target price on Xcel Energy from $54.00 to $59.00 and gave the stock an “outperform” rating in a report on Friday, April 26th. Finally, Bank of America upped their target price on Xcel Energy from $63.00 to $66.00 and gave the stock a “buy” rating in a report on Monday, April 29th. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $62.27.

View Our Latest Report on XEL

Xcel Energy Profile

(Free Report)

Xcel Energy Inc, through its subsidiaries, engages in the generation, purchasing, transmission, distribution, and sale of electricity. It operates through Regulated Electric Utility, Regulated Natural Gas Utility, and All Other segments. The company generates electricity through wind, nuclear, hydroelectric, biomass, and solar energy sources, as well as coal, natural gas, oil, wood, and refuse-derived fuels.

Further Reading

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Institutional Ownership by Quarter for Xcel Energy (NASDAQ:XEL)

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