Legacy Wealth Asset Management LLC Purchases New Position in Xcel Energy Inc. (NASDAQ:XEL)

Legacy Wealth Asset Management LLC purchased a new stake in Xcel Energy Inc. (NASDAQ:XEL) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 7,438 shares of the company’s stock, valued at approximately $400,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Asset Management One Co. Ltd. boosted its holdings in shares of Xcel Energy by 2.6% in the fourth quarter. Asset Management One Co. Ltd. now owns 298,074 shares of the company’s stock valued at $18,448,000 after acquiring an additional 7,679 shares during the period. Principal Securities Inc. acquired a new stake in shares of Xcel Energy in the fourth quarter valued at approximately $896,000. Kayne Anderson Capital Advisors LP boosted its holdings in shares of Xcel Energy by 3.7% in the fourth quarter. Kayne Anderson Capital Advisors LP now owns 325,159 shares of the company’s stock valued at $20,131,000 after acquiring an additional 11,709 shares during the period. Pacer Advisors Inc. boosted its holdings in shares of Xcel Energy by 47.7% in the fourth quarter. Pacer Advisors Inc. now owns 115,016 shares of the company’s stock valued at $7,121,000 after acquiring an additional 37,131 shares during the period. Finally, Seven Eight Capital LP boosted its holdings in shares of Xcel Energy by 930.5% in the third quarter. Seven Eight Capital LP now owns 45,918 shares of the company’s stock valued at $2,627,000 after acquiring an additional 41,462 shares during the period. 78.38% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

XEL has been the subject of several research analyst reports. Evercore ISI increased their price objective on Xcel Energy from $54.00 to $59.00 and gave the company an “outperform” rating in a report on Friday, April 26th. JPMorgan Chase & Co. decreased their price objective on Xcel Energy from $68.00 to $59.00 and set a “neutral” rating for the company in a report on Wednesday, March 13th. Bank of America upped their price target on Xcel Energy from $63.00 to $66.00 and gave the stock a “buy” rating in a research note on Monday, April 29th. TheStreet cut Xcel Energy from a “b-” rating to a “c+” rating in a research note on Thursday, March 14th. Finally, Barclays upped their price target on Xcel Energy from $56.00 to $57.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 30th. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $62.00.

Xcel Energy Price Performance

Xcel Energy stock opened at $52.75 on Friday. Xcel Energy Inc. has a one year low of $46.79 and a one year high of $65.62. The company has a debt-to-equity ratio of 1.48, a quick ratio of 0.74 and a current ratio of 0.86. The business has a fifty day moving average of $54.39 and a two-hundred day moving average of $56.14. The company has a market cap of $29.31 billion, a P/E ratio of 15.84, a price-to-earnings-growth ratio of 2.32 and a beta of 0.37.

Xcel Energy (NASDAQ:XEL) last released its earnings results on Thursday, April 25th. The company reported $0.88 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $0.08. Xcel Energy had a return on equity of 11.03% and a net margin of 13.36%. The company had revenue of $3.65 billion during the quarter, compared to the consensus estimate of $4.12 billion. During the same quarter last year, the company earned $0.76 earnings per share. Xcel Energy’s quarterly revenue was down 10.6% compared to the same quarter last year. As a group, analysts predict that Xcel Energy Inc. will post 3.56 earnings per share for the current fiscal year.

Xcel Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, July 20th. Shareholders of record on Friday, June 14th will be issued a $0.5475 dividend. This represents a $2.19 dividend on an annualized basis and a yield of 4.15%. The ex-dividend date is Friday, June 14th. Xcel Energy’s dividend payout ratio (DPR) is currently 65.77%.

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.