Xcel Energy Inc. (NASDAQ:XEL) Shares Sold by Kingsview Wealth Management LLC

Kingsview Wealth Management LLC reduced its holdings in shares of Xcel Energy Inc. (NASDAQ:XEL) by 6.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,688 shares of the company’s stock after selling 595 shares during the period. Kingsview Wealth Management LLC’s holdings in Xcel Energy were worth $587,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. State Street Corp grew its stake in shares of Xcel Energy by 6.7% during the third quarter. State Street Corp now owns 37,143,025 shares of the company’s stock worth $2,445,477,000 after acquiring an additional 2,323,448 shares during the last quarter. Brookfield Corp ON grew its position in Xcel Energy by 520.1% during the 3rd quarter. Brookfield Corp ON now owns 2,509,031 shares of the company’s stock worth $163,840,000 after purchasing an additional 2,104,405 shares during the last quarter. Merewether Investment Management LP purchased a new stake in Xcel Energy during the 3rd quarter worth approximately $64,301,000. Massachusetts Financial Services Co. MA increased its stake in Xcel Energy by 6.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 15,190,756 shares of the company’s stock valued at $991,956,000 after purchasing an additional 892,740 shares in the last quarter. Finally, Janus Henderson Group PLC raised its holdings in shares of Xcel Energy by 1,265.6% in the third quarter. Janus Henderson Group PLC now owns 839,146 shares of the company’s stock worth $54,797,000 after buying an additional 777,696 shares during the last quarter. 78.38% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Xcel Energy Price Performance

NASDAQ:XEL opened at $67.40 on Thursday. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.93 and a quick ratio of 0.82. The company has a 50 day moving average price of $67.19 and a 200-day moving average price of $65.15. Xcel Energy Inc. has a 1-year low of $46.79 and a 1-year high of $73.38. The firm has a market cap of $38.70 billion, a price-to-earnings ratio of 19.59, a price-to-earnings-growth ratio of 2.54 and a beta of 0.43.

Xcel Energy (NASDAQ:XEL) last released its quarterly earnings data on Thursday, February 6th. The company reported $0.81 earnings per share for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.06). Xcel Energy had a net margin of 14.40% and a return on equity of 10.65%. Equities research analysts forecast that Xcel Energy Inc. will post 3.82 EPS for the current year.

Xcel Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 29th. Shareholders of record on Monday, January 6th were given a dividend of $0.5475 per share. The ex-dividend date was Monday, January 6th. This represents a $2.19 dividend on an annualized basis and a yield of 3.25%. Xcel Energy’s dividend payout ratio is currently 63.66%.

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.