ICA Group Wealth Management LLC Sells 10,355 Shares of Xcel Energy Inc. (NASDAQ:XEL)

ICA Group Wealth Management LLC decreased its stake in shares of Xcel Energy Inc. (NASDAQ:XEL) by 91.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,019 shares of the company’s stock after selling 10,355 shares during the period. ICA Group Wealth Management LLC’s holdings in Xcel Energy were worth $54,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Teilinger Capital Ltd. boosted its holdings in Xcel Energy by 53.8% during the second quarter. Teilinger Capital Ltd. now owns 600,000 shares of the company’s stock worth $32,046,000 after purchasing an additional 210,000 shares during the last quarter. OV Management LLC boosted its holdings in Xcel Energy by 1.8% during the second quarter. OV Management LLC now owns 22,500 shares of the company’s stock worth $1,202,000 after purchasing an additional 400 shares during the last quarter. Envestnet Asset Management Inc. boosted its holdings in Xcel Energy by 57.9% during the second quarter. Envestnet Asset Management Inc. now owns 1,270,615 shares of the company’s stock worth $67,864,000 after purchasing an additional 465,884 shares during the last quarter. Oppenheimer Asset Management Inc. boosted its holdings in Xcel Energy by 8.3% during the second quarter. Oppenheimer Asset Management Inc. now owns 19,453 shares of the company’s stock worth $1,039,000 after purchasing an additional 1,497 shares during the last quarter. Finally, Wrapmanager Inc. acquired a new position in Xcel Energy during the second quarter worth $320,000. Institutional investors own 78.38% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on XEL. Argus upgraded shares of Xcel Energy from a “hold” rating to a “buy” rating and set a $68.00 target price for the company in a report on Monday, August 26th. Wells Fargo & Company increased their price target on shares of Xcel Energy from $57.00 to $63.00 and gave the company an “equal weight” rating in a research note on Friday, August 2nd. Finally, Morgan Stanley increased their price target on shares of Xcel Energy from $62.00 to $68.00 and gave the company an “equal weight” rating in a research note on Friday, August 23rd. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, Xcel Energy currently has an average rating of “Moderate Buy” and a consensus price target of $62.92.

Xcel Energy Price Performance

Shares of XEL opened at $63.84 on Monday. The firm has a market capitalization of $35.47 billion, a PE ratio of 19.17, a PEG ratio of 2.81 and a beta of 0.38. The company’s 50-day moving average is $58.77 and its 200-day moving average is $55.46. Xcel Energy Inc. has a fifty-two week low of $46.79 and a fifty-two week high of $64.43. The company has a debt-to-equity ratio of 1.54, a current ratio of 0.97 and a quick ratio of 0.86.

Xcel Energy (NASDAQ:XEL) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.54 earnings per share for the quarter, missing the consensus estimate of $0.57 by ($0.03). The company had revenue of $3.03 billion during the quarter, compared to the consensus estimate of $3.29 billion. Xcel Energy had a net margin of 13.46% and a return on equity of 10.94%. Xcel Energy’s revenue for the quarter was up .2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.52 earnings per share. Equities analysts forecast that Xcel Energy Inc. will post 3.55 EPS for the current year.

Xcel Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, October 20th. Stockholders of record on Friday, September 13th will be given a $0.548 dividend. The ex-dividend date is Friday, September 13th. This is a positive change from Xcel Energy’s previous quarterly dividend of $0.55. This represents a $2.19 annualized dividend and a dividend yield of 3.43%. Xcel Energy’s dividend payout ratio is presently 65.77%.

About Xcel Energy

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.