Meyer Handelman Co. decreased its holdings in Xcel Energy Inc. (NASDAQ:XEL – Get Rating) by 4.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 64,725 shares of the company’s stock after selling 3,206 shares during the quarter. Meyer Handelman Co.’s holdings in Xcel Energy were worth $4,580,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in the business. JFS Wealth Advisors LLC raised its holdings in Xcel Energy by 256.3% in the first quarter. JFS Wealth Advisors LLC now owns 342 shares of the company’s stock valued at $25,000 after acquiring an additional 246 shares in the last quarter. Johnson Financial Group Inc. acquired a new stake in Xcel Energy during the fourth quarter worth approximately $29,000. Eagle Bay Advisors LLC raised its holdings in Xcel Energy by 3,035.7% during the first quarter. Eagle Bay Advisors LLC now owns 439 shares of the company’s stock worth $32,000 after purchasing an additional 425 shares in the last quarter. Westside Investment Management Inc. raised its holdings in Xcel Energy by 645.5% during the first quarter. Westside Investment Management Inc. now owns 492 shares of the company’s stock worth $35,000 after purchasing an additional 426 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in Xcel Energy by 72.9% during the first quarter. EverSource Wealth Advisors LLC now owns 567 shares of the company’s stock worth $41,000 after purchasing an additional 239 shares in the last quarter. Hedge funds and other institutional investors own 77.52% of the company’s stock.
Xcel Energy Price Performance
Shares of NASDAQ XEL traded down $1.05 during trading on Friday, hitting $71.40. 40,358 shares of the company were exchanged, compared to its average volume of 2,528,206. The company has a market cap of $39.06 billion, a price-to-earnings ratio of 23.89, a PEG ratio of 3.56 and a beta of 0.34. Xcel Energy Inc. has a 1 year low of $61.15 and a 1 year high of $77.66. The firm’s fifty day moving average price is $74.90 and its 200 day moving average price is $71.86. The company has a debt-to-equity ratio of 1.45, a current ratio of 1.00 and a quick ratio of 0.86.
Xcel Energy Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 20th. Investors of record on Thursday, September 15th will be given a $0.4875 dividend. The ex-dividend date is Wednesday, September 14th. This represents a $1.95 annualized dividend and a dividend yield of 2.73%. Xcel Energy’s dividend payout ratio is presently 64.78%.
Wall Street Analysts Forecast Growth
A number of research firms have weighed in on XEL. Credit Suisse Group cut their price objective on shares of Xcel Energy to $77.00 in a report on Thursday, June 9th. Morgan Stanley lifted their target price on shares of Xcel Energy from $69.00 to $74.00 and gave the company an “equal weight” rating in a report on Tuesday, August 23rd. UBS Group cut their target price on shares of Xcel Energy from $74.00 to $71.00 and set a “neutral” rating on the stock in a report on Thursday, June 30th. Finally, Barclays cut their target price on shares of Xcel Energy from $82.00 to $78.00 and set an “overweight” rating on the stock in a report on Monday, July 18th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $74.40.
About Xcel Energy
Xcel Energy Inc, through its subsidiaries, generates, purchases, transmits, distributes, and sells electricity. It operates through Regulated Electric Utility, Regulated Natural Gas Utility, and All Other segments. The company generates electricity through coal, nuclear, natural gas, hydroelectric, solar, biomass, oil, wood/refuse, and wind energy sources.
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