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Xcel Energy COO sells shares worth nearly $1m

Published 22/05/2024, 21:10

In a recent transaction, Timothy John O'Connor, the Executive Vice President and Chief Operations Officer of Xcel Energy Inc. (NASDAQ:XEL), sold a total of 17,563 shares of the company's common stock. The sale, which took place on May 20, 2024, amounted to nearly $1 million, specifically $979,470.

The shares were sold at a weighted average price of $55.769, with individual transactions occurring within a price range from $55.74 to $55.83. Following the sale, O'Connor no longer holds any direct shares in the company. However, he maintains an indirect ownership through 388.054 shares held in the Xcel Energy Stock Fund under the Xcel Energy 401(k) Savings Plan, as of the latest plan statement.

The transaction was publicly reported in accordance with the Securities and Exchange Commission requirements. Investors often monitor such sales as they can provide insights into an executive's view of the company's current valuation and future prospects.

O'Connor's sale represents a significant change in his investment position in Xcel Energy, a major electric and gas utility company based in Minneapolis, Minnesota. The company has been a staple in the energy sector, providing services across several states.

The disclosure of this transaction provides transparency to shareholders and potential investors, ensuring that all material information is available for the assessment of the company's standing in the market.

For more details on the transaction, the company has offered to provide full information regarding the number of shares sold at each separate price upon request. This offer stands for the company's security holders and the staff of the Securities and Exchange Commission as well.

InvestingPro Insights

As Xcel Energy Inc. (NASDAQ:XEL) navigates through the complexities of the energy sector, recent data from InvestingPro provides a snapshot of the company's financial health and market performance. With a market capitalization of $30.85 billion and a P/E ratio of 16.71, Xcel Energy appears to be maintaining a solid stance in the market. Notably, the company's P/E ratio has adjusted to 15.91 over the last twelve months as of Q1 2024, reflecting a slight improvement in valuation relative to earnings.

The company's dedication to shareholder returns is evident, as it has raised its dividend for 20 consecutive years, and remarkably, maintained dividend payments for 53 consecutive years. This track record of consistent dividend growth, which was 5.29% over the last twelve months as of Q1 2024, may signal a commitment to returning value to shareholders. Additionally, the dividend yield as of the same period stands at 3.86%, which could be attractive to income-focused investors.

An InvestingPro Tip suggests that Xcel Energy operates with a significant debt burden, which is an important consideration for investors assessing the company's financial sustainability. Moreover, the company is trading at a high P/E ratio relative to near-term earnings growth, indicating that the stock’s current valuation may already reflect anticipated performance.

For those interested in further insights, there are additional InvestingPro Tips available, including the fact that 4 analysts have revised their earnings upwards for the upcoming period, suggesting a positive outlook on the company's earnings potential. To explore these and other expert analyses, investors can visit and use the exclusive coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription. With a total of 7 InvestingPro Tips listed for Xcel Energy, there's a wealth of information to be discovered that can help investors make more informed decisions.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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