Lake Street Advisors Group LLC Decreases Position in Xcel Energy Inc. (NASDAQ:XEL)

Lake Street Advisors Group LLC trimmed its holdings in shares of Xcel Energy Inc. (NASDAQ:XEL) by 6.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,867 shares of the company’s stock after selling 272 shares during the period. Lake Street Advisors Group LLC’s holdings in Xcel Energy were worth $209,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Principal Securities Inc. purchased a new position in shares of Xcel Energy in the fourth quarter worth $896,000. ProShare Advisors LLC increased its position in shares of Xcel Energy by 23.2% in the first quarter. ProShare Advisors LLC now owns 643,986 shares of the company’s stock valued at $34,614,000 after acquiring an additional 121,118 shares during the period. Allianz Asset Management GmbH raised its stake in shares of Xcel Energy by 7.5% during the fourth quarter. Allianz Asset Management GmbH now owns 419,106 shares of the company’s stock valued at $25,947,000 after acquiring an additional 29,307 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of Xcel Energy by 2.4% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,625,530 shares of the company’s stock worth $87,372,000 after purchasing an additional 38,653 shares during the period. Finally, Focus Financial Network Inc. ADV bought a new stake in shares of Xcel Energy in the fourth quarter worth about $9,120,000. 78.38% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

XEL has been the subject of a number of recent analyst reports. Wells Fargo & Company upped their price target on Xcel Energy from $57.00 to $63.00 and gave the company an “equal weight” rating in a research report on Friday, August 2nd. Morgan Stanley upped their target price on Xcel Energy from $62.00 to $68.00 and gave the company an “equal weight” rating in a report on Friday, August 23rd. Finally, Argus upgraded shares of Xcel Energy from a “hold” rating to a “buy” rating and set a $68.00 price target on the stock 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 company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $62.92.

Xcel Energy Stock Performance

Shares of Xcel Energy stock opened at $63.49 on Tuesday. Xcel Energy Inc. has a 12 month low of $46.79 and a 12 month high of $64.25. The firm has a market capitalization of $35.40 billion, a P/E ratio of 19.07, a P/E/G ratio of 2.77 and a beta of 0.38. The company has a current ratio of 0.97, a quick ratio of 0.86 and a debt-to-equity ratio of 1.54. The business has a fifty day simple moving average of $57.89 and a two-hundred day simple moving average of $55.30.

Xcel Energy (NASDAQ:XEL) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.03). The business had revenue of $3.03 billion for the quarter, compared to analysts’ expectations of $3.29 billion. Xcel Energy had a net margin of 13.46% and a return on equity of 10.94%. The company’s revenue was up .2% on a year-over-year basis. During the same period last year, the business earned $0.52 earnings per share. On average, equities analysts forecast that Xcel Energy Inc. will post 3.55 earnings per share for the current fiscal year.

Xcel Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, October 20th. Investors of record on Friday, September 13th will be paid a $0.548 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $2.19 annualized dividend and a dividend yield of 3.45%. This is an increase from Xcel Energy’s previous quarterly dividend of $0.55. Xcel Energy’s dividend payout ratio is presently 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.