Nordea Investment Management AB, a prominent institutional investor, demonstrated confidence in Xcel Energy Inc. by increasing its holdings in the company during the first quarter of this year. According to its latest Form 13F filing with the Securities & Exchange Commission (SEC), Nordea acquired an additional 312,791 shares, resulting in a 13.7% growth in its overall stake. The investor now owns approximately 2,595,168 shares of Xcel Energy stock, representing about 0.47% of the company’s total worth.
Based on Nordea’s most recent SEC filing, its stake in Xcel Energy is valued at an impressive $174,421,000. This investment speaks volumes about Nordea’s confidence in the future prospects of Xcel Energy and their belief that it will generate favorable returns for their portfolio.
In addition to this positive news from Nordea Investment Management AB, Xcel Energy recently announced its quarterly dividend. Shareholders who are listed on record as of Thursday, June 15th will receive a dividend payment of $0.52 per share on Thursday, July 20th. On an annualized basis, this represents a dividend payout ratio of 64.40%, with a yield of approximately 3.39%.
These developments have attracted attention from various research analysts who closely monitor the performance of Xcel Energy and provide their insights and recommendations based on market trends and data analysis.
Wolfe Research downgraded Xcel Energy from an “outperform” rating to a “peer perform” rating in early June this year. Similarly, BMO Capital Markets also lowered its previous “outperform” rating for Xcel Energy to a “market perform” rating later that month.
However, it is worth noting that not all analysts have echoed these sentiments. Morgan Stanley raised its price target for Xcel Energy from $62.00 to $67.00 while maintaining an “equal weight” rating. JPMorgan Chase & Co., although lowering the company’s rating from “overweight” to “neutral,” maintains a relatively positive price target of $68.00.
With varying opinions and nuanced analysis, it is evident that Xcel Energy has become a topic of discussion within the investment community. According to Bloomberg.com, the average rating for Xcel Energy stands at “Hold,” with an average price target of $70.17.
As the landscape of the energy industry continues to evolve, it is important for investors and analysts alike to carefully assess companies like Xcel Energy. With its recent increase in holdings from influential institutional investor Nordea Investment Management AB, coupled with a quarterly dividend announcement, Xcel Energy seems poised to continue its growth trajectory while capturing attention from market participants.
In conclusion, Nordea Investment Management AB’s increased stake in Xcel Energy showcases their confidence in the company’s future prospects. Furthermore, the recently announced dividend payment adds another layer of appeal for potential investors. Though different research analysts hold various opinions on Xcel Energy’s performance and outlook, it is clear that this energy company has positioned itself as an intriguing investment option within the industry.
Xcel Energy Inc.
XEL
Strong Buy
Updated on: 01/07/2023
Xcel Energy: Strong Financial Performance and Rising Investor Interest
In the world of finance, the activities of hedge funds and institutional investors are closely monitored. Such entities have the power to influence stock prices and impact the overall market. Recently, several hedge funds and institutional investors have made significant changes to their holdings of Xcel Energy, a leading company in the utility industry.
One notable investor is Banque Pictet & Cie SA, which has seen its holdings in Xcel Energy increase by 9.8% during the fourth quarter. This Swiss bank now owns over 20,000 shares of the company’s stock, valued at $1.4 million. Similarly, Securian Asset Management Inc., another institutional investor, has lifted its holdings by 0.9%, now owning nearly 45,000 shares worth $3.1 million.
Edgestream Partners L.P., a financial investment firm, has also entered the scene with a newly acquired stake in Xcel Energy valued at approximately $975,000. Additionally, Hexagon Capital Partners LLC has increased its holdings by 15.7% during the fourth quarter.
While it’s interesting to see these investments from various players in the financial industry, it is also important to note that insiders within Xcel Energy itself have been actively involved in trading its stocks. EVP Timothy John O’Connor recently sold 15,625 shares of the company’s stock for a total value exceeding $1 million.
On a positive note for shareholders, Xcel Energy recently announced that it will be distributing a quarterly dividend on July 20th this year. Stockholders of record as of June 15th will be eligible for this dividend payment of $0.52 per share. With an annualized dividend yield of 3.39%, this represents a return on investment for shareholders.
XEL stock opened at $61.29 on Friday and currently maintains an intriguing position in terms of its moving averages – with its 50-day simple moving average at $65.74 and its 200-day simple moving average at $67.08. As of now, Xcel Energy has a market capitalization of $33.73 billion.
In terms of financial performance, Xcel Energy recently reported its quarterly earnings data, showing strong results that beat analyst estimates. The company earned $0.76 per share for the quarter, surpassing the consensus estimate by $0.02. Its revenue for the quarter amounted to $4.08 billion, exceeding analyst expectations of $3.76 billion.
Xcel Energy’s ability to consistently outperform expectations is reflected in its solid return on equity of 10.78% and net margin of 11.34%. Furthermore, its revenue growth during this quarter increased by 8.8% compared to the same period last year.
Overall, Xcel Energy has shown resilience and adaptability in an ever-changing market environment. With positive investor sentiment fueled by institutional investors and hedge funds increasing their holdings, as well as a strong dividend payout ratio, the company continues to project stability and robust financial performance for the current year.