Truist Financial Corp Acquires 89,396 Shares of Xcel Energy Inc. (NASDAQ:XEL)

Truist Financial Corp raised its holdings in shares of Xcel Energy Inc. (NASDAQ:XEL - Free Report) by 63.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 230,761 shares of the company's stock after acquiring an additional 89,396 shares during the quarter. Truist Financial Corp's holdings in Xcel Energy were worth $12,325,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. KBC Group NV increased its stake in shares of Xcel Energy by 8.5% in the fourth quarter. KBC Group NV now owns 37,094 shares of the company's stock worth $2,296,000 after acquiring an additional 2,916 shares during the last quarter. Belpointe Asset Management LLC purchased a new stake in shares of Xcel Energy during the 4th quarter worth about $257,000. Royal London Asset Management Ltd. lifted its holdings in shares of Xcel Energy by 3,424.0% during the 4th quarter. Royal London Asset Management Ltd. now owns 16,598 shares of the company's stock valued at $1,028,000 after buying an additional 16,127 shares during the last quarter. Tower Research Capital LLC TRC grew its stake in shares of Xcel Energy by 86.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 87,921 shares of the company's stock valued at $5,443,000 after buying an additional 40,670 shares in the last quarter. Finally, Crossmark Global Holdings Inc. increased its holdings in Xcel Energy by 2.6% in the fourth quarter. Crossmark Global Holdings Inc. now owns 43,591 shares of the company's stock worth $2,698,000 after buying an additional 1,120 shares during the last quarter. Institutional investors and hedge funds own 78.38% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. KeyCorp lifted their target price on shares of Xcel Energy from $66.00 to $69.00 and gave the company an "overweight" rating in a research note on Monday, September 30th. UBS Group upped their price objective on shares of Xcel Energy from $66.00 to $67.00 and gave the stock a "neutral" rating in a report on Friday, September 20th. Jefferies Financial Group began coverage on Xcel Energy in a research report on Thursday, September 19th. They issued a "hold" rating and a $70.00 price target for the company. Morgan Stanley increased their price target on Xcel Energy from $68.00 to $73.00 and gave the company an "equal weight" rating in a report on Wednesday, September 25th. Finally, Wells Fargo & Company upped their price objective on shares of Xcel Energy from $57.00 to $63.00 and gave the stock an "equal weight" rating in a report on Friday, August 2nd. Eight analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Xcel Energy has an average rating of "Hold" and an average target price of $64.36.

Xcel Energy Price Performance

NASDAQ:XEL traded down $0.67 during mid-day trading on Friday, hitting $63.73. The company's stock had a trading volume of 3,052,914 shares, compared to its average volume of 4,206,958. The company has a market capitalization of $35.41 billion, a price-to-earnings ratio of 19.14, a P/E/G ratio of 2.82 and a beta of 0.39. The company has a current ratio of 0.97, a quick ratio of 0.86 and a debt-to-equity ratio of 1.54. Xcel Energy Inc. has a fifty-two week low of $46.79 and a fifty-two week high of $65.64. The stock has a fifty day moving average of $61.67 and a 200-day moving average of $56.82.

Xcel Energy (NASDAQ:XEL - Get Free Report) last issued its earnings results on Thursday, August 1st. The company reported $0.54 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.57 by ($0.03). The company had revenue of $3.03 billion during the quarter, compared to analyst estimates of $3.29 billion. Xcel Energy had a return on equity of 10.94% and a net margin of 13.46%. The company's quarterly revenue was up .2% on a year-over-year basis. During the same period in the previous year, the company posted $0.52 earnings per share. As a group, equities analysts forecast that Xcel Energy Inc. will post 3.55 EPS for the current fiscal year.

Xcel Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, October 20th. Stockholders of record on Friday, September 13th will be issued a $0.548 dividend. This is a positive change from Xcel Energy's previous quarterly dividend of $0.55. The ex-dividend date is Friday, September 13th. This represents a $2.19 annualized dividend and a dividend yield of 3.44%. Xcel Energy's dividend payout ratio is presently 65.77%.

Xcel Energy Company 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.