Concurrent Investment Advisors LLC Acquires 1,892 Shares of Xcel Energy Inc. (NASDAQ:XEL)

Concurrent Investment Advisors LLC lifted its position in Xcel Energy Inc. (NASDAQ:XEL) by 17.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 12,771 shares of the company’s stock after purchasing an additional 1,892 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Xcel Energy were worth $904,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Bank of America Corp DE grew its stake in shares of Xcel Energy by 43.6% during the 4th quarter. Bank of America Corp DE now owns 20,762,745 shares of the company’s stock worth $1,401,901,000 after acquiring an additional 6,306,380 shares in the last quarter. FMR LLC lifted its holdings in shares of Xcel Energy by 118.3% during the fourth quarter. FMR LLC now owns 6,608,044 shares of the company’s stock worth $446,175,000 after buying an additional 3,581,436 shares in the last quarter. Zimmer Partners LP lifted its holdings in shares of Xcel Energy by 1,625.7% during the fourth quarter. Zimmer Partners LP now owns 3,667,200 shares of the company’s stock worth $247,609,000 after buying an additional 3,454,700 shares in the last quarter. Pictet Asset Management Holding SA increased its position in shares of Xcel Energy by 236.7% in the fourth quarter. Pictet Asset Management Holding SA now owns 4,878,279 shares of the company’s stock worth $329,381,000 after purchasing an additional 3,429,353 shares during the period. Finally, Janus Henderson Group PLC increased its position in shares of Xcel Energy by 379.3% in the fourth quarter. Janus Henderson Group PLC now owns 4,022,085 shares of the company’s stock worth $271,578,000 after purchasing an additional 3,182,939 shares during the period. Institutional investors and hedge funds own 78.38% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Wells Fargo & Company set a $78.00 target price on Xcel Energy and gave the company an “overweight” rating in a research report on Friday, April 25th. UBS Group upped their target price on Xcel Energy from $73.00 to $77.00 and gave the company a “neutral” rating in a report on Tuesday, April 1st. Barclays boosted their price target on Xcel Energy from $72.00 to $73.00 and gave the company an “overweight” rating in a research note on Tuesday, April 22nd. BMO Capital Markets upped their target price on Xcel Energy from $69.00 to $73.00 and gave the stock a “market perform” rating in a research report on Wednesday, April 23rd. Finally, Morgan Stanley decreased their price target on Xcel Energy from $78.00 to $77.00 and set an “equal weight” rating for the company in a report on Wednesday, June 18th. One analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Xcel Energy has an average rating of “Moderate Buy” and an average target price of $75.80.

Xcel Energy Stock Performance

Shares of NASDAQ XEL opened at $67.56 on Wednesday. The company has a debt-to-equity ratio of 1.48, a quick ratio of 0.70 and a current ratio of 0.80. The company has a market cap of $38.97 billion, a P/E ratio of 19.87, a P/E/G ratio of 2.37 and a beta of 0.36. The firm’s fifty day moving average is $69.00 and its two-hundred day moving average is $68.60. Xcel Energy Inc. has a 52-week low of $51.97 and a 52-week high of $73.38.

Xcel Energy (NASDAQ:XEL) last released its quarterly earnings data on Thursday, April 24th. The company reported $0.84 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.95 by ($0.11). The company had revenue of $3.91 billion during the quarter, compared to analysts’ expectations of $3.93 billion. Xcel Energy had a net margin of 14.10% and a return on equity of 10.20%. Xcel Energy’s quarterly revenue was up 7.0% on a year-over-year basis. During the same period last year, the firm earned $0.88 earnings per share. As a group, analysts anticipate that Xcel Energy Inc. will post 3.82 EPS for the current fiscal year.

Xcel Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Sunday, July 20th. Stockholders of record on Friday, June 13th will be given a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 3.37%. The ex-dividend date of this dividend is Friday, June 13th. Xcel Energy’s dividend payout ratio (DPR) is presently 67.06%.

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.