Larson Financial Group LLC Purchases 6,232 Shares of Xcel Energy Inc. (NASDAQ:XEL)

Larson Financial Group LLC lifted its holdings in Xcel Energy Inc. (NASDAQ:XEL) by 193.1% during the 2nd quarter, Holdings Channel reports. The fund owned 9,459 shares of the company’s stock after acquiring an additional 6,232 shares during the quarter. Larson Financial Group LLC’s holdings in Xcel Energy were worth $505,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Heritage Wealth Advisors bought a new stake in Xcel Energy during the 4th quarter worth about $25,000. Tidemark LLC bought a new stake in shares of Xcel Energy during the fourth quarter valued at approximately $29,000. Quarry LP acquired a new stake in shares of Xcel Energy in the fourth quarter valued at approximately $34,000. TruNorth Capital Management LLC bought a new position in Xcel Energy in the 2nd quarter worth approximately $30,000. Finally, American National Bank acquired a new position in Xcel Energy during the 2nd quarter worth $32,000. 78.38% of the stock is currently owned by institutional investors.

Xcel Energy Trading Up 0.5 %

Shares of NASDAQ XEL opened at $63.46 on Friday. Xcel Energy Inc. has a twelve month low of $46.79 and a twelve month high of $64.25. The stock has a market cap of $35.26 billion, a price-to-earnings ratio of 19.06, a P/E/G ratio of 2.70 and a beta of 0.37. The company has a quick ratio of 0.86, a current ratio of 0.97 and a debt-to-equity ratio of 1.54. The company’s fifty day moving average is $57.48 and its 200-day moving average is $55.30.

Xcel Energy (NASDAQ:XEL) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.54 EPS for the quarter, missing the consensus estimate of $0.57 by ($0.03). Xcel Energy had a return on equity of 10.94% and a net margin of 13.46%. The business had revenue of $3.03 billion for the quarter, compared to analyst estimates of $3.29 billion. During the same period in the previous year, the business posted $0.52 EPS. The business’s quarterly revenue was up .2% compared to the same quarter last year. Equities research analysts predict that Xcel Energy Inc. will post 3.55 EPS for the current year.

Xcel Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, October 20th. Investors of record on Friday, September 13th will be given a $0.548 dividend. The ex-dividend date of this dividend is Friday, September 13th. This is a positive change from Xcel Energy’s previous quarterly dividend of $0.55. This represents a $2.19 annualized dividend and a dividend yield of 3.45%. Xcel Energy’s payout ratio is currently 65.77%.

Analyst Ratings Changes

XEL has been the subject of several research reports. Morgan Stanley lifted their target price on Xcel Energy from $62.00 to $68.00 and gave the company an “equal weight” rating in a research note on Friday, August 23rd. Wells Fargo & Company lifted their price objective on Xcel Energy from $57.00 to $63.00 and gave the stock an “equal weight” rating in a research report on Friday, August 2nd. Finally, Argus raised Xcel Energy from a “hold” rating to a “buy” rating and set a $68.00 price objective for the company in a report on Monday, August 26th. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Xcel Energy currently has an average rating of “Moderate Buy” and a consensus price target of $62.92.

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.