Tidemark LLC Buys New Stake in Xcel Energy Inc. (NASDAQ:XEL)

Tidemark LLC purchased a new position in shares of Xcel Energy Inc. (NASDAQ:XEL) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 465 shares of the company’s stock, valued at approximately $29,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Ontario Teachers Pension Plan Board boosted its stake in Xcel Energy by 27.0% during the 4th quarter. Ontario Teachers Pension Plan Board now owns 96,419 shares of the company’s stock worth $5,969,000 after purchasing an additional 20,493 shares during the period. Alpha Family Trust acquired a new position in Xcel Energy in the 4th quarter valued at about $458,000. JPL Wealth Management LLC purchased a new stake in Xcel Energy during the 4th quarter valued at approximately $205,000. EverSource Wealth Advisors LLC lifted its position in Xcel Energy by 885.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 6,235 shares of the company’s stock worth $386,000 after acquiring an additional 5,602 shares during the period. Finally, Davis R M Inc. purchased a new position in shares of Xcel Energy in the 4th quarter valued at approximately $224,000. 78.38% of the stock is owned by hedge funds and other institutional investors.

Xcel Energy Stock Performance

Shares of NASDAQ XEL traded down $0.33 during trading on Friday, reaching $53.72. 2,016,201 shares of the company traded hands, compared to its average volume of 3,919,141. The stock has a market capitalization of $29.85 billion, a PE ratio of 16.13, a P/E/G ratio of 2.38 and a beta of 0.36. The company has a quick ratio of 0.74, a current ratio of 0.86 and a debt-to-equity ratio of 1.48. Xcel Energy Inc. has a 52-week low of $46.79 and a 52-week high of $65.62. The firm has a 50 day simple moving average of $54.12 and a 200-day simple moving average of $57.48.

Xcel Energy (NASDAQ:XEL) last released its earnings results on Thursday, April 25th. The company reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.08. Xcel Energy had a return on equity of 11.03% and a net margin of 13.36%. The company had revenue of $3.65 billion for the quarter, compared to the consensus estimate of $4.12 billion. During the same period in the previous year, the business earned $0.76 earnings per share. Xcel Energy’s quarterly revenue was down 10.6% compared to the same quarter last year. Equities research analysts anticipate that Xcel Energy Inc. will post 3.56 earnings per share for the current year.

Xcel Energy Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, July 20th. Investors of record on Friday, June 14th will be issued a dividend of $0.5475 per share. The ex-dividend date is Friday, June 14th. This represents a $2.19 annualized dividend and a yield of 4.08%. Xcel Energy’s payout ratio is 65.77%.

Analysts Set New Price Targets

XEL has been the topic of several research analyst reports. Evercore ISI boosted their target price on shares of Xcel Energy from $54.00 to $59.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. JPMorgan Chase & Co. reduced their price target on Xcel Energy from $68.00 to $59.00 and set a “neutral” rating for the company in a report on Wednesday, March 13th. Royal Bank of Canada boosted their price objective on Xcel Energy from $67.00 to $68.00 and gave the stock a “sector perform” rating in a research report on Tuesday, January 30th. KeyCorp cut their price objective on Xcel Energy from $68.00 to $65.00 and set an “overweight” rating for the company in a report on Friday, April 19th. Finally, Wolfe Research raised Xcel Energy from a “peer perform” rating to an “outperform” rating and set a $58.00 price objective on the stock in a report on Monday, March 11th. Six equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Xcel Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $62.83.

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.