Xcel Energy Inc. (NASDAQ:XEL) Position Reduced by Financial Advocates Investment Management

Financial Advocates Investment Management reduced its position in Xcel Energy Inc. (NASDAQ:XEL) by 4.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,751 shares of the company’s stock after selling 500 shares during the period. Financial Advocates Investment Management’s holdings in Xcel Energy were worth $658,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. State of Alaska Department of Revenue raised its position in Xcel Energy by 1.0% during the fourth quarter. State of Alaska Department of Revenue now owns 65,480 shares of the company’s stock valued at $4,421,000 after buying an additional 665 shares during the period. Bleakley Financial Group LLC increased its holdings in shares of Xcel Energy by 10.6% in the 4th quarter. Bleakley Financial Group LLC now owns 23,847 shares of the company’s stock valued at $1,610,000 after purchasing an additional 2,282 shares during the period. Choreo LLC lifted its position in shares of Xcel Energy by 5.6% in the fourth quarter. Choreo LLC now owns 23,687 shares of the company’s stock worth $1,601,000 after purchasing an additional 1,258 shares in the last quarter. Tectonic Advisors LLC boosted its holdings in shares of Xcel Energy by 110.3% during the fourth quarter. Tectonic Advisors LLC now owns 14,247 shares of the company’s stock worth $962,000 after purchasing an additional 7,472 shares during the period. Finally, Spirit of America Management Corp NY grew its position in Xcel Energy by 32.7% during the fourth quarter. Spirit of America Management Corp NY now owns 11,150 shares of the company’s stock valued at $753,000 after purchasing an additional 2,750 shares in the last quarter. Institutional investors and hedge funds own 78.38% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on XEL shares. Wells Fargo & Company increased their target price on shares of Xcel Energy from $72.00 to $75.00 and gave the stock an “overweight” rating in a research report on Friday. JPMorgan Chase & Co. raised Xcel Energy from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $69.00 to $80.00 in a research report on Thursday, December 12th. Jefferies Financial Group raised Xcel Energy from a “hold” rating to a “buy” rating and upped their target price for the stock from $71.00 to $76.00 in a research report on Friday, November 1st. KeyCorp lifted their price target on Xcel Energy from $74.00 to $79.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Finally, Morgan Stanley dropped their price objective on Xcel Energy from $74.00 to $72.00 and set an “equal weight” rating on the stock in a report on Friday, November 22nd. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $69.91.

Xcel Energy Price Performance

Shares of Xcel Energy stock opened at $66.60 on Friday. Xcel Energy Inc. has a 1-year low of $46.79 and a 1-year high of $73.38. The firm has a fifty day simple moving average of $67.47 and a 200-day simple moving average of $64.81. The company has a current ratio of 0.93, a quick ratio of 0.82 and a debt-to-equity ratio of 1.42. The stock has a market capitalization of $38.24 billion, a price-to-earnings ratio of 19.76, a PEG ratio of 2.54 and a beta of 0.43.

Xcel Energy (NASDAQ:XEL) last issued its quarterly earnings results on Thursday, February 6th. The company reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.06). Xcel Energy had a net margin of 13.67% and a return on equity of 10.76%. On average, sell-side analysts expect that Xcel Energy Inc. will post 3.54 earnings per share for the current year.

Xcel Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 29th. Stockholders of record on Monday, January 6th were issued a dividend of $0.5475 per share. The ex-dividend date of this dividend was Monday, January 6th. This represents a $2.19 dividend on an annualized basis and a dividend yield of 3.29%. Xcel Energy’s dividend payout ratio (DPR) is presently 64.99%.

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.