Bruce & Co. Inc. Acquires 3,000 Shares of Xcel Energy Inc. (NASDAQ:XEL)

Bruce & Co. Inc. boosted its holdings in shares of Xcel Energy Inc. (NASDAQ:XEL) by 1.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 196,000 shares of the company’s stock after purchasing an additional 3,000 shares during the quarter. Xcel Energy comprises about 3.4% of Bruce & Co. Inc.’s investment portfolio, making the stock its 11th largest position. Bruce & Co. Inc.’s holdings in Xcel Energy were worth $10,468,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. ProShare Advisors LLC increased its position in shares of Xcel Energy by 23.2% during the 1st quarter. ProShare Advisors LLC now owns 643,986 shares of the company’s stock valued at $34,614,000 after purchasing an additional 121,118 shares during the last quarter. Allianz Asset Management GmbH increased its position in Xcel Energy by 7.5% during the fourth quarter. Allianz Asset Management GmbH now owns 419,106 shares of the company’s stock valued at $25,947,000 after acquiring an additional 29,307 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of Xcel Energy by 2.4% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,625,530 shares of the company’s stock valued at $87,372,000 after acquiring an additional 38,653 shares during the period. Focus Financial Network Inc. ADV bought a new stake in shares of Xcel Energy in the 4th quarter worth about $9,120,000. Finally, Daiwa Securities Group Inc. boosted its stake in shares of Xcel Energy by 24.8% during the 1st quarter. Daiwa Securities Group Inc. now owns 100,969 shares of the company’s stock worth $5,427,000 after purchasing an additional 20,068 shares during the period. Institutional investors own 78.38% of the company’s stock.

Xcel Energy Price Performance

Shares of XEL stock opened at $63.84 on Monday. Xcel Energy Inc. has a twelve month low of $46.79 and a twelve month high of $64.43. The company has a current ratio of 0.97, a quick ratio of 0.86 and a debt-to-equity ratio of 1.54. The stock has a fifty day simple moving average of $58.77 and a two-hundred day simple moving average of $55.46. The stock has a market capitalization of $35.47 billion, a price-to-earnings ratio of 19.17, a P/E/G ratio of 2.81 and a beta of 0.38.

Xcel Energy (NASDAQ:XEL) last released its quarterly earnings data on Thursday, August 1st. The company reported $0.54 earnings per share for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.03). Xcel Energy had a return on equity of 10.94% and a net margin of 13.46%. The business had revenue of $3.03 billion during the quarter, compared to analysts’ expectations of $3.29 billion. During the same period last year, the company earned $0.52 earnings per share. The firm’s revenue was up .2% compared to the same quarter last year. On average, analysts predict that Xcel Energy Inc. will post 3.55 EPS for the current fiscal year.

Xcel Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, October 20th. Investors of record on Friday, September 13th will be paid a $0.548 dividend. This is an increase from Xcel Energy’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend is Friday, September 13th. This represents a $2.19 dividend on an annualized basis and a yield of 3.43%. Xcel Energy’s payout ratio is 65.77%.

Analyst Ratings Changes

A number of research firms recently weighed in on XEL. Argus raised shares of Xcel Energy from a “hold” rating to a “buy” rating and set a $68.00 price objective on the stock in a research report on Monday, August 26th. Morgan Stanley increased their price target on Xcel Energy from $62.00 to $68.00 and gave the stock an “equal weight” rating in a report on Friday, August 23rd. Finally, Wells Fargo & Company boosted their price objective on Xcel Energy from $57.00 to $63.00 and gave the company an “equal weight” rating in a report on Friday, August 2nd. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, Xcel Energy presently has an average rating of “Moderate Buy” and an average price target of $62.92.

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.