Princeton Global Asset Management LLC Grows Stake in Xcel Energy Inc. $XEL

Princeton Global Asset Management LLC raised its holdings in Xcel Energy Inc. (NASDAQ:XEL) by 28.6% during the first quarter, Holdings Channel.com reports. The institutional investor owned 54,560 shares of the company’s stock after buying an additional 12,149 shares during the quarter. Princeton Global Asset Management LLC’s holdings in Xcel Energy were worth $4,334,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Vermillion & White Wealth Management Group LLC purchased a new stake in Xcel Energy in the third quarter worth $27,000. Abound Wealth Management increased its position in Xcel Energy by 394.5% during the 4th quarter. Abound Wealth Management now owns 361 shares of the company’s stock valued at $27,000 after purchasing an additional 288 shares during the period. Garton & Associates Financial Advisors LLC bought a new position in Xcel Energy in the 4th quarter worth $30,000. Beacon Financial Strategies CORP bought a new position in Xcel Energy in the 4th quarter worth $33,000. Finally, Pittenger & Anderson Inc. lifted its position in shares of Xcel Energy by 73.8% in the 4th quarter. Pittenger & Anderson Inc. now owns 471 shares of the company’s stock worth $35,000 after purchasing an additional 200 shares during the period. 78.38% of the stock is owned by hedge funds and other institutional investors.

Xcel Energy Stock Performance

Shares of XEL stock opened at $82.23 on Monday. The company’s fifty day moving average price is $79.49 and its 200-day moving average price is $78.44. The stock has a market cap of $51.33 billion, a PE ratio of 23.70, a price-to-earnings-growth ratio of 2.14 and a beta of 0.39. The company has a current ratio of 0.77, a quick ratio of 0.68 and a debt-to-equity ratio of 1.45. Xcel Energy Inc. has a 12 month low of $66.56 and a 12 month high of $84.23.

Xcel Energy (NASDAQ:XEL) last issued its quarterly earnings results on Wednesday, April 29th. The company reported $0.91 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.91. Xcel Energy had a net margin of 14.14% and a return on equity of 10.37%. The company had revenue of $4.02 billion during the quarter, compared to analyst estimates of $4.21 billion. During the same period last year, the business earned $0.84 EPS. Xcel Energy’s quarterly revenue was up 2.9% compared to the same quarter last year. On average, equities analysts expect that Xcel Energy Inc. will post 4.11 EPS for the current fiscal year.

Xcel Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 20th. Stockholders of record on Monday, June 15th will be issued a dividend of $0.5925 per share. This represents a $2.37 annualized dividend and a dividend yield of 2.9%. The ex-dividend date is Monday, June 15th. Xcel Energy’s dividend payout ratio (DPR) is presently 68.30%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Mizuho cut their target price on shares of Xcel Energy from $94.00 to $91.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 23rd. KeyCorp restated an “overweight” rating on shares of Xcel Energy in a report on Monday, June 8th. BMO Capital Markets lifted their price objective on Xcel Energy from $90.00 to $94.00 and gave the company an “outperform” rating in a research report on Wednesday, April 22nd. BTIG Research reiterated a “buy” rating and set a $98.00 target price on shares of Xcel Energy in a report on Friday. Finally, UBS Group increased their target price on Xcel Energy from $89.00 to $91.00 and gave the stock a “buy” rating in a research report on Monday, April 20th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $91.29.

Xcel Energy Company Profile

Xcel Energy (NASDAQ: XEL) is a Minneapolis-based, publicly traded utility holding company that develops, owns and operates regulated electricity and natural gas delivery systems. The company’s core activities include generation, transmission and distribution of electricity, the delivery of natural gas to customers, and related customer service operations. Xcel provides a mix of utility services to residential, commercial and industrial customers and participates in wholesale energy markets where appropriate.

Its generation portfolio combines nuclear, natural gas, coal and a growing share of renewable resources such as wind and solar.