Meeder Advisory Services Inc. Makes New $716,000 Investment in Xcel Energy Inc. $XEL

Meeder Advisory Services Inc. bought a new position in shares of Xcel Energy Inc. (NASDAQ:XEL) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 8,922 shares of the company’s stock, valued at approximately $716,000.

A number of other hedge funds have also added to or reduced their stakes in the business. BlackRock Inc. acquired a new position in shares of Xcel Energy during the 2nd quarter worth about $4,890,136,000. Deutsche Bank AG acquired a new stake in shares of Xcel Energy in the second quarter valued at about $433,927,000. Barclays PLC raised its holdings in Xcel Energy by 63.6% during the fourth quarter. Barclays PLC now owns 9,979,397 shares of the company’s stock worth $737,078,000 after acquiring an additional 3,881,011 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Xcel Energy by 16.9% during the fourth quarter. JPMorgan Chase & Co. now owns 24,572,438 shares of the company’s stock worth $1,814,920,000 after acquiring an additional 3,546,423 shares in the last quarter. Finally, Bank of New York Mellon Corp bought a new stake in Xcel Energy during the second quarter worth about $280,187,000. Institutional investors own 78.38% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Mizuho set a $92.00 target price on shares of Xcel Energy in a research note on Friday, July 31st. Barclays upped their price target on shares of Xcel Energy from $87.00 to $90.00 and gave the stock an “overweight” rating in a research report on Thursday, July 9th. BMO Capital Markets cut 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 note on Wednesday, July 22nd. Truist Financial decreased their price objective on shares of Xcel Energy from $94.00 to $88.00 and set a “buy” rating for the company in a research report on Thursday, August 13th. Finally, Morgan Stanley set a $89.00 price objective on shares of Xcel Energy in a research note on Wednesday, June 24th. 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 company. According to data from MarketBeat, Xcel Energy currently has an average rating of “Buy” and an average price target of $92.41.

Xcel Energy Stock Performance

Shares of NASDAQ XEL opened at $78.71 on Friday. Xcel Energy Inc. has a one year low of $71.29 and a one year high of $84.23. The company has a debt-to-equity ratio of 1.49, a current ratio of 0.70 and a quick ratio of 0.62. The firm has a market cap of $49.16 billion, a price-to-earnings ratio of 21.56, a P/E/G ratio of 2.06 and a beta of 0.39. The stock’s fifty day moving average price is $79.41 and its two-hundred day moving average price is $79.72.

Xcel Energy (NASDAQ:XEL) last announced its earnings results on Wednesday, July 29th. The company reported $0.93 EPS for the quarter, topping the consensus estimate of $0.79 by $0.14. Xcel Energy had a net margin of 15.28% and a return on equity of 10.65%. The company had revenue of $3.12 billion for the quarter, compared to analysts’ expectations of $3.54 billion. During the same period last year, the firm earned $1.59 earnings per share. The business’s revenue for the quarter was down 5.1% on a year-over-year basis. On average, equities analysts forecast that Xcel Energy Inc. will post 4.11 EPS for the current year.

Xcel Energy Announces Dividend

The firm 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. This represents a $2.37 annualized dividend and a dividend yield of 3.0%. The ex-dividend date is Tuesday, September 15th. Xcel Energy’s dividend payout ratio is currently 64.93%.

Xcel Energy 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.