Xcel Energy (XEL) Shares Gap Down After Earnings Miss

Xcel Energy Inc (NYSE:XEL) gapped down before the market opened on Thursday following a weaker than expected earnings announcement. The stock had previously closed at $51.40, but opened at $50.26. Xcel Energy shares last traded at $49.43, with a volume of 4033313 shares changing hands.

The utilities provider reported $0.96 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.98 by ($0.02). Xcel Energy had a return on equity of 10.44% and a net margin of 10.06%. The company had revenue of $3.05 billion during the quarter, compared to analysts’ expectations of $3.08 billion.

The business also recently announced a quarterly dividend, which was paid on Saturday, October 20th. Investors of record on Friday, September 14th were issued a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 3.13%. The ex-dividend date was Thursday, September 13th.

Several equities research analysts recently issued reports on XEL shares. Barclays started coverage on shares of Xcel Energy in a report on Tuesday, July 10th. They issued an “overweight” rating and a $53.00 target price on the stock. Zacks Investment Research upgraded shares of Xcel Energy from a “sell” rating to a “hold” rating in a report on Monday, July 16th. Finally, Morgan Stanley raised their target price on shares of Xcel Energy from $46.00 to $49.00 and gave the stock an “overweight” rating in a report on Monday, July 16th. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Xcel Energy has an average rating of “Buy” and an average price target of $48.22.

In other Xcel Energy news, SVP Judy M. Poferl sold 7,182 shares of the stock in a transaction that occurred on Friday, September 7th. The shares were sold at an average price of $48.67, for a total value of $349,547.94. Following the transaction, the senior vice president now directly owns 25,460 shares in the company, valued at $1,239,138.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Lynn Casey purchased 1,000 shares of the firm’s stock in a transaction on Wednesday, September 5th. The stock was acquired at an average price of $48.89 per share, for a total transaction of $48,890.00. Following the completion of the transaction, the director now directly owns 3,131 shares of the company’s stock, valued at approximately $153,074.59. The disclosure for this purchase can be found here. 0.22% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in XEL. Cerebellum GP LLC raised its position in Xcel Energy by 117.8% in the third quarter. Cerebellum GP LLC now owns 2,629 shares of the utilities provider’s stock worth $124,000 after acquiring an additional 1,422 shares during the period. TRUE Private Wealth Advisors bought a new stake in shares of Xcel Energy during the 3rd quarter valued at $127,000. Whittier Trust Co. of Nevada Inc. raised its position in shares of Xcel Energy by 105.3% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 4,774 shares of the utilities provider’s stock valued at $154,000 after purchasing an additional 2,449 shares during the period. Peoples Financial Services CORP. bought a new stake in shares of Xcel Energy during the 3rd quarter valued at $160,000. Finally, Centaurus Financial Inc. bought a new stake in shares of Xcel Energy during the 2nd quarter valued at $166,000. Institutional investors and hedge funds own 73.96% of the company’s stock.

The company has a current ratio of 0.87, a quick ratio of 0.68 and a debt-to-equity ratio of 1.27.

About Xcel Energy (NYSE:XEL)

Xcel Energy Inc is a public utility holding company. The Company’s operations include the activity of four utility subsidiaries that serve electric and natural gas customers in eight states. The Company’s segments include regulated electric utility, regulated natural gas utility and all other. The Company’s utility subsidiaries include NSP-Minnesota, NSP-Wisconsin, Public Service Company of Colorado (PSCo) and Southwestern Public Service Co (SPS), which serve customers in portions of Colorado, Michigan, Minnesota, New Mexico, North Dakota, South Dakota, Texas and Wisconsin.

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