Xcel Energy Inc. (NASDAQ:XEL) Shares Sold by Palisade Asset Management LLC

Palisade Asset Management LLC cut its holdings in shares of Xcel Energy Inc. (NASDAQ:XEL) by 0.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 103,311 shares of the company’s stock after selling 318 shares during the period. Palisade Asset Management LLC’s holdings in Xcel Energy were worth $6,396,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Criterion Capital Advisors LLC acquired a new position in Xcel Energy in the fourth quarter worth about $25,000. Turtle Creek Wealth Advisors LLC bought a new stake in shares of Xcel Energy during the fourth quarter valued at approximately $25,000. Capital Analysts LLC raised its holdings in shares of Xcel Energy by 293.6% during the fourth quarter. Capital Analysts LLC now owns 433 shares of the company’s stock valued at $26,000 after buying an additional 323 shares during the last quarter. Royal London Asset Management Ltd. bought a new stake in shares of Xcel Energy during the third quarter valued at approximately $27,000. Finally, Annis Gardner Whiting Capital Advisors LLC bought a new stake in shares of Xcel Energy during the third quarter valued at approximately $31,000. 78.38% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on XEL. Royal Bank of Canada lifted their price target on Xcel Energy from $67.00 to $68.00 and gave the company a “sector perform” rating in a report on Tuesday, January 30th. Bank of America lifted their price target on Xcel Energy from $63.00 to $66.00 and gave the company a “buy” rating in a report on Monday, April 29th. Evercore ISI lifted their price target on Xcel Energy from $54.00 to $59.00 and gave the company an “outperform” rating in a report on Friday, April 26th. JPMorgan Chase & Co. cut their price target on Xcel Energy from $68.00 to $59.00 and set a “neutral” rating on the stock in a report on Wednesday, March 13th. Finally, Barclays lifted their price target on Xcel Energy from $56.00 to $57.00 and gave the company an “overweight” rating in a report on Tuesday, April 30th. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, Xcel Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of $62.83.

Xcel Energy Price Performance

Shares of NASDAQ XEL traded down $0.09 during mid-day trading on Wednesday, reaching $54.93. The company had a trading volume of 3,002,119 shares, compared to its average volume of 5,314,470. The company has a 50-day moving average price of $53.10 and a two-hundred day moving average price of $57.83. The stock has a market cap of $30.52 billion, a PE ratio of 16.52, a P/E/G ratio of 2.38 and a beta of 0.36. The company has a current ratio of 0.86, a quick ratio of 0.74 and a debt-to-equity ratio of 1.48. Xcel Energy Inc. has a 1-year low of $46.79 and a 1-year high of $69.71.

Xcel Energy (NASDAQ:XEL) last issued its quarterly earnings results on Thursday, April 25th. The company reported $0.88 earnings per share for the quarter, topping analysts’ consensus estimates of $0.80 by $0.08. The firm had revenue of $3.65 billion for the quarter, compared to analysts’ expectations of $4.12 billion. Xcel Energy had a return on equity of 11.03% and a net margin of 13.36%. Xcel Energy’s revenue was down 10.6% on a year-over-year basis. During the same quarter last year, the business posted $0.76 EPS. On average, equities analysts anticipate that Xcel Energy Inc. will post 3.56 earnings per share for the current year.

Xcel Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Saturday, April 20th. Shareholders of record on Friday, March 15th were paid a dividend of $0.548 per share. This represents a $2.19 annualized dividend and a yield of 3.99%. The ex-dividend date of this dividend was Thursday, March 14th. This is a boost from Xcel Energy’s previous quarterly dividend of $0.52. Xcel Energy’s 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.