Ritholtz Wealth Management reduced its stake in Xcel Energy Inc. (NASDAQ:XEL – Free Report) by 11.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 4,989 shares of the company’s stock after selling 618 shares during the quarter. Ritholtz Wealth Management’s holdings in Xcel Energy were worth $337,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in the stock. Integris Wealth Management LLC increased its stake in Xcel Energy by 2.7% in the third quarter. Integris Wealth Management LLC now owns 6,163 shares of the company’s stock valued at $402,000 after purchasing an additional 163 shares during the last quarter. Bond & Devick Financial Network Inc. boosted its stake in shares of Xcel Energy by 1.1% in the third quarter. Bond & Devick Financial Network Inc. now owns 15,972 shares of the company’s stock valued at $1,043,000 after buying an additional 168 shares in the last quarter. LRI Investments LLC grew its holdings in Xcel Energy by 5.9% during the third quarter. LRI Investments LLC now owns 3,037 shares of the company’s stock worth $209,000 after acquiring an additional 170 shares during the period. Gateway Wealth Partners LLC raised its position in Xcel Energy by 4.3% in the second quarter. Gateway Wealth Partners LLC now owns 4,413 shares of the company’s stock worth $236,000 after acquiring an additional 182 shares in the last quarter. Finally, Sumitomo Life Insurance Co. lifted its holdings in Xcel Energy by 2.9% in the third quarter. Sumitomo Life Insurance Co. now owns 6,591 shares of the company’s stock valued at $430,000 after acquiring an additional 183 shares during the period. Hedge funds and other institutional investors own 78.38% of the company’s stock.
Xcel Energy Stock Performance
NASDAQ:XEL opened at $67.68 on Wednesday. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.82 and a current ratio of 0.93. The firm’s 50-day moving average is $68.37 and its 200-day moving average is $63.75. Xcel Energy Inc. has a 52-week low of $46.79 and a 52-week high of $73.38. The company has a market cap of $38.86 billion, a price-to-earnings ratio of 20.08, a PEG ratio of 2.53 and a beta of 0.42.
Xcel Energy Cuts Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 29th. Investors of record on Monday, January 6th will be paid a dividend of $0.5475 per share. This represents a $2.19 annualized dividend and a yield of 3.24%. The ex-dividend date of this dividend is Monday, January 6th. Xcel Energy’s payout ratio is 64.99%.
Wall Street Analyst Weigh In
A number of brokerages have issued reports on XEL. Barclays increased their target price on shares of Xcel Energy from $67.00 to $71.00 and gave the company an “overweight” rating in a report on Tuesday, November 26th. Jefferies Financial Group raised 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 research report on Friday, November 1st. Wells Fargo & Company upgraded shares of Xcel Energy from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $70.00 to $72.00 in a research report on Monday, January 13th. KeyCorp lifted their price target on Xcel Energy from $74.00 to $79.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Finally, JPMorgan Chase & Co. raised Xcel Energy from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $69.00 to $80.00 in a research report on Thursday, December 12th. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $69.67.
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.
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