Oppenheimer Asset Management Inc. Acquires 1,497 Shares of Xcel Energy Inc. (NASDAQ:XEL)

Oppenheimer Asset Management Inc. raised its stake in shares of Xcel Energy Inc. (NASDAQ:XEL) by 8.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,453 shares of the company’s stock after acquiring an additional 1,497 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Xcel Energy were worth $1,039,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of XEL. Heritage Wealth Advisors bought a new position in shares of Xcel Energy during the 4th quarter worth approximately $25,000. Tidemark LLC acquired a new position in shares of Xcel Energy during the fourth quarter worth $29,000. TruNorth Capital Management LLC acquired a new stake in shares of Xcel Energy in the 2nd quarter worth $30,000. American National Bank purchased a new position in Xcel Energy during the 2nd quarter worth $32,000. Finally, Quarry LP acquired a new position in Xcel Energy during the 4th quarter valued at about $34,000. Institutional investors own 78.38% of the company’s stock.

Wall Street Analysts Forecast Growth

XEL has been the topic of a number of research analyst reports. KeyCorp boosted their price target on Xcel Energy from $65.00 to $66.00 and gave the stock an “overweight” rating in a research note on Monday. Argus upgraded shares of Xcel Energy from a “hold” rating to a “buy” rating and set a $68.00 price objective for the company in a research note on Monday, August 26th. Jefferies Financial Group started coverage on Xcel Energy in a research report on Thursday. They issued a “hold” rating and a $70.00 target price on the stock. Morgan Stanley raised their target price on Xcel Energy from $62.00 to $68.00 and gave the stock an “equal weight” rating in a research note on Friday, August 23rd. Finally, Wells Fargo & Company boosted their price target on Xcel Energy from $57.00 to $63.00 and gave the company an “equal weight” rating in a research note on Friday, August 2nd. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $63.54.

Xcel Energy Trading Down 0.5 %

Xcel Energy stock opened at $64.06 on Friday. The firm has a market cap of $35.59 billion, a PE ratio of 19.24, a P/E/G ratio of 2.81 and a beta of 0.38. Xcel Energy Inc. has a 12 month low of $46.79 and a 12 month high of $64.95. The stock’s 50 day simple moving average is $59.69 and its two-hundred day simple moving average is $55.76. The company has a current ratio of 0.97, a quick ratio of 0.86 and a debt-to-equity ratio of 1.54.

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

Xcel Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, October 20th. Shareholders of record on Friday, September 13th will be given a dividend of $0.548 per share. The ex-dividend date is Friday, September 13th. This represents a $2.19 dividend on an annualized basis and a yield of 3.42%. This is an increase from Xcel Energy’s previous quarterly dividend of $0.55. Xcel Energy’s dividend payout ratio 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.