Shell Asset Management Co. Acquires 6,191 Shares of Xcel Energy Inc. (NASDAQ:XEL)

Shell Asset Management Co. grew its holdings in Xcel Energy Inc. (NASDAQ:XEL) by 23.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 32,577 shares of the company’s stock after purchasing an additional 6,191 shares during the period. Shell Asset Management Co.’s holdings in Xcel Energy were worth $1,751,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Elgethun Capital Management raised its stake in shares of Xcel Energy by 27.1% during the first quarter. Elgethun Capital Management now owns 2,546 shares of the company’s stock valued at $135,000 after acquiring an additional 543 shares in the last quarter. Meritage Group LP raised its position in Xcel Energy by 32.7% during the 1st quarter. Meritage Group LP now owns 5,666 shares of the company’s stock valued at $305,000 after purchasing an additional 1,397 shares in the last quarter. Natixis purchased a new stake in shares of Xcel Energy in the 1st quarter worth $8,348,000. InterOcean Capital Group LLC bought a new position in shares of Xcel Energy during the 1st quarter worth $242,000. Finally, Pitcairn Co. bought a new position in shares of Xcel Energy during the 1st quarter worth $224,000. 78.38% of the stock is currently owned by institutional investors.

Xcel Energy Stock Up 0.8 %

NASDAQ XEL traded up $0.48 during trading on Friday, hitting $57.35. The company’s stock had a trading volume of 534,616 shares, compared to its average volume of 4,487,970. Xcel Energy Inc. has a fifty-two week low of $46.79 and a fifty-two week high of $64.77. The company has a market cap of $31.87 billion, a PE ratio of 17.10, a P/E/G ratio of 2.48 and a beta of 0.37. The company has a debt-to-equity ratio of 1.48, a current ratio of 0.86 and a quick ratio of 0.74. The business’s 50 day simple moving average is $54.28 and its 200-day simple moving average is $55.31.

Xcel Energy (NASDAQ:XEL) last announced its quarterly earnings data on Thursday, April 25th. The company reported $0.88 EPS for the quarter, beating the consensus estimate of $0.80 by $0.08. Xcel Energy had a net margin of 13.36% and a return on equity of 11.03%. The firm had revenue of $3.65 billion during the quarter, compared to analyst estimates of $4.12 billion. During the same period last year, the firm posted $0.76 EPS. Xcel Energy’s revenue was down 10.6% on a year-over-year basis. On average, equities analysts anticipate that Xcel Energy Inc. will post 3.55 EPS for the current fiscal year.

Xcel Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Saturday, July 20th. Stockholders of record on Friday, June 14th were issued a dividend of $0.5475 per share. This represents a $2.19 dividend on an annualized basis and a dividend yield of 3.82%. The ex-dividend date of this dividend was Friday, June 14th. Xcel Energy’s dividend payout ratio (DPR) is presently 65.77%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. KeyCorp decreased their price objective on Xcel Energy from $68.00 to $65.00 and set an “overweight” rating for the company in a report on Friday, April 19th. Bank of America increased their price objective on shares of Xcel Energy from $63.00 to $66.00 and gave the company a “buy” rating in a research note on Monday, April 29th. StockNews.com raised shares of Xcel Energy from a “sell” rating to a “hold” rating in a report on Thursday, May 2nd. Barclays upped their target price on Xcel Energy from $56.00 to $57.00 and gave the stock an “overweight” rating in a report on Tuesday, April 30th. Finally, Morgan Stanley reduced their price target on Xcel Energy from $65.00 to $62.00 and set an “equal weight” rating for the company in a research report on Monday, June 24th. Six analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $62.00.

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.