Oliver Luxxe Assets LLC Purchases New Stake in Xcel Energy Inc. (NASDAQ:XEL)

Oliver Luxxe Assets LLC acquired a new stake in Xcel Energy Inc. (NASDAQ:XEL) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 95,080 shares of the company’s stock, valued at approximately $5,111,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Turtle Creek Wealth Advisors LLC purchased a new position in Xcel Energy in the fourth quarter worth $25,000. Criterion Capital Advisors LLC bought a new position in shares of Xcel Energy in the fourth quarter worth $25,000. Pacific Capital Wealth Advisors Inc. purchased a new stake in shares of Xcel Energy in the 4th quarter valued at about $25,000. Heritage Wealth Advisors purchased a new position in Xcel Energy in the 4th quarter worth approximately $25,000. Finally, Capital Analysts LLC increased its stake in Xcel Energy by 293.6% in the fourth quarter. Capital Analysts LLC now owns 433 shares of the company’s stock valued at $26,000 after acquiring an additional 323 shares during the last quarter. Institutional investors and hedge funds own 78.38% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. JPMorgan Chase & Co. dropped their target price on Xcel Energy from $68.00 to $59.00 and set a “neutral” rating for the company in a report on Wednesday, March 13th. Evercore ISI raised 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. KeyCorp reduced their target price on Xcel Energy from $68.00 to $65.00 and set an “overweight” rating for the company in a report on Friday, April 19th. TheStreet lowered Xcel Energy from a “b-” rating to a “c+” rating in a report on Thursday, March 14th. Finally, StockNews.com upgraded shares of Xcel Energy from a “sell” rating to a “hold” rating in a research report on Thursday, May 2nd. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $62.00.

Xcel Energy Stock Performance

Shares of NASDAQ XEL traded down $0.77 during trading on Monday, reaching $52.64. 746,621 shares of the company traded hands, compared to its average volume of 4,763,322. The stock has a market cap of $29.25 billion, a P/E ratio of 16.04, a PEG ratio of 2.35 and a beta of 0.37. Xcel Energy Inc. has a 12-month low of $46.79 and a 12-month high of $65.62. The firm’s fifty day simple moving average is $54.58 and its 200 day simple moving average is $56.31. 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 (NASDAQ:XEL) last announced its quarterly earnings results on Thursday, April 25th. The company reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.08. The firm had revenue of $3.65 billion during the quarter, compared to analyst estimates 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 for the quarter was down 10.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.76 EPS. As a group, research analysts anticipate that Xcel Energy Inc. will post 3.56 earnings per share for the current fiscal year.

Xcel Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, July 20th. Shareholders of record on Friday, June 14th will be given a dividend of $0.5475 per share. This represents a $2.19 dividend on an annualized basis and a yield of 4.16%. The ex-dividend date of this dividend is Friday, June 14th. Xcel Energy’s dividend payout ratio is presently 65.77%.

Xcel Energy Company 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.