Concord Asset Management LLC VA Has $323,000 Stake in Xcel Energy Inc. $XEL

Concord Asset Management LLC VA lifted its position in shares of Xcel Energy Inc. (NASDAQ:XEL) by 48.2% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,745 shares of the company’s stock after purchasing an additional 1,544 shares during the quarter. Concord Asset Management LLC VA’s holdings in Xcel Energy were worth $323,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Xcel Energy by 1.3% during the first quarter. Vanguard Group Inc. now owns 74,818,158 shares of the company’s stock worth $5,296,377,000 after purchasing an additional 986,170 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of Xcel Energy by 31.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 25,809,978 shares of the company’s stock worth $1,827,090,000 after purchasing an additional 6,109,190 shares during the period. JPMorgan Chase & Co. raised its position in shares of Xcel Energy by 7.9% during the first quarter. JPMorgan Chase & Co. now owns 20,811,241 shares of the company’s stock worth $1,473,228,000 after purchasing an additional 1,520,092 shares during the period. Northern Trust Corp raised its position in Xcel Energy by 5.8% in the 1st quarter. Northern Trust Corp now owns 5,967,952 shares of the company’s stock valued at $422,471,000 after buying an additional 328,845 shares during the last quarter. Finally, Invesco Ltd. raised its position in Xcel Energy by 0.6% in the 1st quarter. Invesco Ltd. now owns 5,711,917 shares of the company’s stock valued at $404,347,000 after buying an additional 33,469 shares during the last quarter. 78.38% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently commented on XEL. Evercore ISI began coverage on Xcel Energy in a research report on Monday, October 6th. They issued an “outperform” rating and a $92.00 price target for the company. Weiss Ratings reissued a “hold (c+)” rating on shares of Xcel Energy in a research report on Wednesday, October 8th. Barclays increased their price target on Xcel Energy from $72.00 to $81.00 and gave the company an “overweight” rating in a research report on Monday, September 29th. Morgan Stanley lowered their price target on Xcel Energy from $81.00 to $80.00 and set an “equal weight” rating for the company in a research report on Thursday, September 25th. Finally, UBS Group increased their price target on Xcel Energy from $82.00 to $84.00 and gave the company a “neutral” rating in a research report on Friday. Nine research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $81.91.

Xcel Energy Trading Down 1.0%

Shares of Xcel Energy stock opened at $80.16 on Tuesday. Xcel Energy Inc. has a 1 year low of $62.35 and a 1 year high of $82.54. The firm has a market cap of $47.41 billion, a PE ratio of 22.21, a P/E/G ratio of 2.72 and a beta of 0.37. The stock has a fifty day moving average price of $74.77 and a 200-day moving average price of $71.40. 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 announced its earnings results on Thursday, July 31st. The company reported $0.75 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $3.29 billion during the quarter, compared to analyst estimates of $3.31 billion. During the same period last year, the firm posted $0.54 EPS. The business’s 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. Equities research analysts anticipate that Xcel Energy Inc. will post 3.82 EPS for the current year.

Xcel Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 20th. Investors 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 annualized dividend and a yield of 2.8%. Xcel Energy’s dividend payout ratio (DPR) is 63.16%.

Xcel Energy Profile

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.