Raleigh Capital Management Inc. Increases Stake in Xcel Energy Inc. (NASDAQ:XEL)

Raleigh Capital Management Inc. grew its holdings in shares of Xcel Energy Inc. (NASDAQ:XEL) by 23.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 25,110 shares of the company’s stock after purchasing an additional 4,760 shares during the quarter. Raleigh Capital Management Inc.’s holdings in Xcel Energy were worth $1,640,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. TruNorth Capital Management LLC acquired a new stake in shares of Xcel Energy in the 2nd quarter worth $30,000. American National Bank acquired a new position in shares of Xcel Energy in the 2nd quarter valued at $32,000. Kimelman & Baird LLC purchased a new position in shares of Xcel Energy during the 2nd quarter worth $35,000. Rothschild Investment LLC acquired a new stake in shares of Xcel Energy during the 2nd quarter worth about $37,000. Finally, Voisard Asset Management Group Inc. purchased a new stake in Xcel Energy in the 2nd quarter valued at about $43,000. Hedge funds and other institutional investors own 78.38% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Wells Fargo & Company lifted their target price on shares of Xcel Energy from $63.00 to $66.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. KeyCorp raised their price target on Xcel Energy from $66.00 to $69.00 and gave the stock an “overweight” rating in a research report on Monday, September 30th. Argus upgraded Xcel Energy from a “hold” rating to a “buy” rating and set a $68.00 price objective on the stock in a report on Monday, August 26th. UBS Group increased their target price on Xcel Energy from $66.00 to $67.00 and gave the stock a “neutral” rating in a research note on Friday, September 20th. Finally, Jefferies Financial Group began coverage on shares of Xcel Energy in a research note on Thursday, September 19th. They set a “hold” rating and a $70.00 price target on the stock. Eight research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $65.29.

Xcel Energy Stock Performance

Shares of XEL opened at $63.43 on Tuesday. The stock has a market capitalization of $35.24 billion, a P/E ratio of 19.05, a P/E/G ratio of 2.75 and a beta of 0.39. Xcel Energy Inc. has a 1 year low of $46.79 and a 1 year high of $65.64. The company’s fifty day moving average is $62.72 and its two-hundred day moving average is $57.62. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.86 and a current ratio of 0.97.

Xcel Energy (NASDAQ:XEL) last announced its quarterly earnings results 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). The firm had revenue of $3.03 billion during the quarter, compared to analysts’ expectations of $3.29 billion. Xcel Energy had a net margin of 13.46% and a return on equity of 10.94%. The company’s quarterly revenue was up .2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.52 EPS. On average, sell-side analysts predict that Xcel Energy Inc. will post 3.55 earnings per share for the current year.

Xcel Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Sunday, October 20th. Shareholders of record on Friday, September 13th were issued a dividend of $0.548 per share. This represents a $2.19 dividend on an annualized basis and a yield of 3.46%. The ex-dividend date was Friday, September 13th. This is a boost from Xcel Energy’s previous quarterly dividend of $0.55. Xcel Energy’s dividend payout ratio is 65.77%.

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.