Gradient Investments LLC Sells 22,984 Shares of Xcel Energy Inc. (NASDAQ:XEL)

Gradient Investments LLC lessened its stake in Xcel Energy Inc. (NASDAQ:XEL) by 10.0% in the fourth quarter, HoldingsChannel reports. The firm owned 207,085 shares of the company’s stock after selling 22,984 shares during the period. Gradient Investments LLC’s holdings in Xcel Energy were worth $13,982,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Nomura Asset Management Co. Ltd. increased its position in Xcel Energy by 7.0% during the third quarter. Nomura Asset Management Co. Ltd. now owns 189,954 shares of the company’s stock valued at $12,404,000 after acquiring an additional 12,477 shares during the last quarter. ING Groep NV increased its position in shares of Xcel Energy by 85.0% during the 3rd quarter. ING Groep NV now owns 231,482 shares of the company’s stock valued at $15,116,000 after purchasing an additional 106,326 shares during the last quarter. Harvest Fund Management Co. Ltd lifted its stake in shares of Xcel Energy by 64.4% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 27,634 shares of the company’s stock worth $1,805,000 after purchasing an additional 10,821 shares during the period. HITE Hedge Asset Management LLC boosted its holdings in shares of Xcel Energy by 393.0% in the third quarter. HITE Hedge Asset Management LLC now owns 317,117 shares of the company’s stock worth $20,708,000 after buying an additional 252,793 shares during the last quarter. Finally, Oak Thistle LLC bought a new stake in Xcel Energy during the fourth quarter valued at approximately $1,433,000. 78.38% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on XEL shares. Jefferies Financial Group upgraded shares of Xcel Energy from a “hold” rating to a “buy” rating and lifted their price target for the stock from $71.00 to $76.00 in a research note on Friday, November 1st. Morgan Stanley lowered their target price on Xcel Energy from $74.00 to $72.00 and set an “equal weight” rating on the stock in a research report on Friday, November 22nd. KeyCorp upped their price target on Xcel Energy from $74.00 to $79.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. 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. Finally, Wells Fargo & Company raised shares of Xcel Energy from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $70.00 to $72.00 in a report on Monday, January 13th. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, Xcel Energy presently has a consensus rating of “Moderate Buy” and an average target price of $69.50.

Xcel Energy Price Performance

Shares of NASDAQ:XEL opened at $66.61 on Friday. The firm has a market cap of $38.25 billion, a price-to-earnings ratio of 19.77, a P/E/G ratio of 2.53 and a beta of 0.42. The firm has a fifty day moving average price of $68.26 and a 200 day moving average price of $63.90. Xcel Energy Inc. has a fifty-two week low of $46.79 and a fifty-two week high of $73.38. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.82 and a current ratio of 0.93.

Xcel Energy (NASDAQ:XEL) last issued its quarterly earnings data on Thursday, October 31st. The company reported $1.25 earnings per share for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.01). Xcel Energy had a net margin of 13.67% and a return on equity of 10.76%. The firm had revenue of $3.64 billion for the quarter, compared to analysts’ expectations of $3.93 billion. During the same quarter in the previous year, the business earned $1.23 EPS. The company’s revenue for the quarter was down .5% on a year-over-year basis. As a group, sell-side analysts expect that Xcel Energy Inc. will post 3.54 earnings per share for the current fiscal year.

Xcel Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 29th. Stockholders of record on Monday, January 6th will be issued a dividend of $0.5475 per share. The ex-dividend date is Monday, January 6th. This represents a $2.19 annualized dividend and a dividend yield of 3.29%. Xcel Energy’s dividend payout ratio (DPR) is 64.99%.

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.