ARS Investment Partners LLC reduced its stake in shares of Xcel Energy Inc. (NASDAQ:XEL – Get Rating) by 5.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 41,615 shares of the company’s stock after selling 2,180 shares during the period. ARS Investment Partners LLC’s holdings in Xcel Energy were worth $2,817,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Future Financial Wealth Managment LLC purchased a new stake in shares of Xcel Energy during the 4th quarter worth $26,000. Equitec Proprietary Markets LLC acquired a new position in shares of Xcel Energy during the 4th quarter worth $27,000. TAP Consulting LLC acquired a new position in shares of Xcel Energy during the 4th quarter worth $28,000. Allegheny Financial Group LTD acquired a new position in shares of Xcel Energy during the 4th quarter worth $30,000. Finally, Covestor Ltd acquired a new position in shares of Xcel Energy during the 4th quarter worth $31,000. Institutional investors own 75.14% of the company’s stock.
XEL has been the subject of several research reports. Morgan Stanley lifted their price target on Xcel Energy from $69.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 20th. Evercore ISI raised Xcel Energy from an “in-line” rating to an “outperform” rating and lifted their price target for the stock from $70.00 to $75.00 in a research note on Tuesday, January 25th. KeyCorp boosted their target price on shares of Xcel Energy from $78.00 to $79.00 and gave the company an “overweight” rating in a research note on Wednesday, April 20th. Finally, Credit Suisse Group began coverage on shares of Xcel Energy in a research note on Monday, April 25th. They issued an “outperform” rating and a $80.00 target price for the company. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, Xcel Energy presently has a consensus rating of “Buy” and a consensus price target of $74.40.
Xcel Energy (NASDAQ:XEL – Get Rating) last issued its earnings results on Thursday, April 28th. The company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.02. Xcel Energy had a return on equity of 10.54% and a net margin of 11.84%. The business had revenue of $3.75 billion during the quarter, compared to analysts’ expectations of $3.42 billion. During the same quarter in the previous year, the business earned $0.67 EPS. The company’s revenue for the quarter was up 5.9% on a year-over-year basis. As a group, equities research analysts forecast that Xcel Energy Inc. will post 3.16 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 20th. Shareholders of record on Wednesday, June 15th will be issued a $0.4875 dividend. This represents a $1.95 dividend on an annualized basis and a yield of 2.60%. Xcel Energy’s dividend payout ratio is presently 65.22%.
In other Xcel Energy news, SVP Frank P. Prager sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, April 29th. The stock was sold at an average price of $73.58, for a total value of $73,580.00. Following the completion of the transaction, the senior vice president now owns 29,174 shares in the company, valued at approximately $2,146,622.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.05% of the stock is owned by corporate insiders.
Xcel Energy Company Profile (Get Rating)
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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