Xcel Energy Inc. (NASDAQ:XEL) Shares Bought by Synovus Financial Corp

Synovus Financial Corp raised its holdings in shares of Xcel Energy Inc. (NASDAQ:XEL) by 17.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,795 shares of the company’s stock after purchasing an additional 873 shares during the period. Synovus Financial Corp’s holdings in Xcel Energy were worth $378,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Ashton Thomas Securities LLC purchased a new position in Xcel Energy during the 3rd quarter worth $25,000. Transcendent Capital Group LLC purchased a new stake in shares of Xcel Energy during the third quarter worth about $33,000. Kimelman & Baird LLC acquired a new position in shares of Xcel Energy during the second quarter valued at about $35,000. Rothschild Investment LLC acquired a new position in shares of Xcel Energy during the second quarter valued at about $37,000. Finally, Andra AP fonden purchased a new position in shares of Xcel Energy in the 2nd quarter valued at approximately $43,000. Hedge funds and other institutional investors own 78.38% of the company’s stock.

Xcel Energy Stock Down 2.5 %

Shares of XEL stock opened at $66.40 on Thursday. Xcel Energy Inc. has a twelve month low of $46.79 and a twelve month high of $73.38. The stock has a market cap of $38.13 billion, a P/E ratio of 19.70, a P/E/G ratio of 2.79 and a beta of 0.41. The stock has a 50 day moving average of $67.54 and a 200 day moving average of $61.67. The company has a current ratio of 0.93, a quick ratio of 0.82 and a debt-to-equity ratio of 1.42.

Xcel Energy (NASDAQ:XEL) last posted its earnings results on Thursday, October 31st. The company reported $1.25 earnings per share for the quarter, missing the consensus estimate of $1.26 by ($0.01). Xcel Energy had a net margin of 13.67% and a return on equity of 10.76%. The firm had revenue of $3.64 billion for the quarter, compared to analysts’ expectations of $3.93 billion. During the same period last year, the firm earned $1.23 earnings per share. Xcel Energy’s revenue for the quarter was down .5% compared to the same quarter last year. As a group, sell-side analysts expect that Xcel Energy Inc. will post 3.54 EPS for the current year.

Xcel Energy Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 29th. Stockholders of record on Monday, January 6th will be paid a dividend of $0.5475 per share. This represents a $2.19 annualized dividend and a dividend yield of 3.30%. Xcel Energy’s payout ratio is currently 64.99%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. KeyCorp boosted their target price on shares of Xcel Energy from $74.00 to $79.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Morgan Stanley dropped their price objective on shares of Xcel Energy from $74.00 to $72.00 and set an “equal weight” rating on the stock in a report on Friday, November 22nd. Argus upgraded Xcel Energy from a “hold” rating to a “buy” rating and set a $68.00 target price for the company in a research note on Monday, August 26th. UBS Group lifted their price target on Xcel Energy from $66.00 to $67.00 and gave the stock a “neutral” rating in a research report on Friday, September 20th. Finally, JPMorgan Chase & Co. raised Xcel Energy from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $69.00 to $80.00 in a report on Thursday, December 12th. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, Xcel Energy has a consensus rating of “Moderate Buy” and a consensus target price of $69.17.

Xcel Energy 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.