Corundum Group Inc. Acquires 502 Shares of Xcel Energy Inc. $XEL

Corundum Group Inc. increased its holdings in shares of Xcel Energy Inc. (NASDAQ:XEL) by 7.8% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,922 shares of the company’s stock after buying an additional 502 shares during the quarter. Corundum Group Inc.’s holdings in Xcel Energy were worth $471,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of XEL. Brighton Jones LLC bought a new position in Xcel Energy in the fourth quarter valued at about $240,000. Merit Financial Group LLC raised its position in Xcel Energy by 20.7% in the first quarter. Merit Financial Group LLC now owns 20,651 shares of the company’s stock valued at $1,462,000 after purchasing an additional 3,543 shares during the last quarter. RFG Advisory LLC raised its position in Xcel Energy by 22.4% in the first quarter. RFG Advisory LLC now owns 8,879 shares of the company’s stock valued at $629,000 after purchasing an additional 1,626 shares during the last quarter. Hennion & Walsh Asset Management Inc. raised its position in Xcel Energy by 14.2% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 21,741 shares of the company’s stock valued at $1,539,000 after purchasing an additional 2,702 shares during the last quarter. Finally, Annex Advisory Services LLC bought a new position in Xcel Energy in the first quarter valued at about $207,000. 78.38% of the stock is currently owned by institutional investors.

Xcel Energy Trading Up 0.8%

NASDAQ XEL opened at $80.26 on Friday. The business has a 50 day simple moving average of $73.77 and a 200 day simple moving average of $70.88. Xcel Energy Inc. has a one year low of $62.12 and a one year high of $81.15. The stock has a market capitalization of $47.47 billion, a P/E ratio of 22.23, a P/E/G ratio of 2.68 and a beta of 0.37. The company has a debt-to-equity ratio of 1.48, a current ratio of 0.96 and a quick ratio of 0.85.

Xcel Energy (NASDAQ:XEL) last released its earnings results on Thursday, July 31st. The company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.66 by $0.09. Xcel Energy had a return on equity of 10.52% and a net margin of 14.85%.The business had revenue of $3.29 billion during the quarter, compared to analysts’ expectations of $3.31 billion. During the same quarter last year, the firm posted $0.54 earnings per share. The firm’s revenue was up 8.6% on a year-over-year basis. Xcel Energy has set its FY 2025 guidance at 3.750-3.850 EPS. Research analysts expect that Xcel Energy Inc. will post 3.82 earnings per share for the current year.

Xcel Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 20th. Investors of record on Monday, September 15th will be paid a dividend of $0.57 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $2.28 annualized dividend and a yield of 2.8%. Xcel Energy’s dividend payout ratio (DPR) is currently 63.16%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. UBS Group set a $82.00 target price on Xcel Energy in a research report on Thursday, September 25th. BMO Capital Markets set a $84.00 target price on Xcel Energy in a research report on Thursday, September 25th. Bank of America increased their price target on Xcel Energy from $78.00 to $84.00 and gave the company a “buy” rating in a research note on Thursday, September 25th. Weiss Ratings reissued a “hold (c+)” rating on shares of Xcel Energy in a research note on Saturday, September 27th. Finally, Barclays increased their price target on Xcel Energy from $72.00 to $81.00 and gave the company an “overweight” rating in a research note on Monday. Nine research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $80.36.

About Xcel Energy

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.