DAVENPORT & Co LLC Boosts Stock Position in Xcel Energy Inc. $XEL

DAVENPORT & Co LLC grew its position in shares of Xcel Energy Inc. (NASDAQ:XEL) by 3.4% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 72,541 shares of the company’s stock after buying an additional 2,416 shares during the quarter. DAVENPORT & Co LLC’s holdings in Xcel Energy were worth $4,940,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in XEL. Accent Capital Management LLC acquired a new stake in shares of Xcel Energy during the first quarter worth about $29,000. BankPlus Trust Department acquired a new stake in shares of Xcel Energy during the first quarter worth about $34,000. Rise Advisors LLC boosted its stake in shares of Xcel Energy by 62.9% during the second quarter. Rise Advisors LLC now owns 518 shares of the company’s stock worth $35,000 after buying an additional 200 shares during the period. Marshall & Sullivan Inc. WA acquired a new stake in shares of Xcel Energy during the second quarter worth about $44,000. Finally, Rossby Financial LCC acquired a new stake in shares of Xcel Energy during the first quarter worth about $50,000. Hedge funds and other institutional investors own 78.38% of the company’s stock.

Xcel Energy Price Performance

Shares of NASDAQ:XEL opened at $81.85 on Wednesday. The company has a quick ratio of 0.85, a current ratio of 0.96 and a debt-to-equity ratio of 1.48. The company has a market cap of $48.41 billion, a P/E ratio of 22.67, a PEG ratio of 2.73 and a beta of 0.37. Xcel Energy Inc. has a 52 week low of $62.12 and a 52 week high of $82.09. The company has a 50-day moving average price of $74.16 and a 200 day moving average price of $71.05.

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

Xcel Energy Announces Dividend

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

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on XEL shares. Barclays increased their target price on shares of Xcel Energy from $72.00 to $81.00 and gave the stock an “overweight” rating in a research note on Monday, September 29th. Bank of America increased their target price on shares of Xcel Energy from $78.00 to $84.00 and gave the stock a “buy” rating in a research note on Thursday, September 25th. UBS Group set a $82.00 target price on shares of Xcel Energy in a research note on Thursday, September 25th. Evercore ISI assumed coverage on shares of Xcel Energy in a research note on Monday. They set an “outperform” rating and a $92.00 target price for the company. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Xcel Energy in a research report on Saturday, September 27th. Nine equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, Xcel Energy presently has an average rating of “Moderate Buy” and an average target price of $81.73.

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.