Concert Wealth Management Inc. boosted its stake in shares of Xcel Energy Inc. (NYSE:XEL) by 7.5% during the second quarter, Holdings Channel reports. The institutional investor owned 11,550 shares of the company’s stock after buying an additional 803 shares during the period. Concert Wealth Management Inc.’s holdings in Xcel Energy were worth $514,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently modified their holdings of XEL. Advisory Services Network LLC increased its stake in Xcel Energy by 0.3% in the second quarter. Advisory Services Network LLC now owns 6,031 shares of the company’s stock worth $270,000 after buying an additional 16 shares during the period. City Holding Co. increased its stake in Xcel Energy by 1.5% in the second quarter. City Holding Co. now owns 2,776 shares of the company’s stock worth $124,000 after buying an additional 41 shares during the last quarter. NEXT Financial Group Inc increased its stake in Xcel Energy by 0.8% in the second quarter. NEXT Financial Group Inc now owns 6,290 shares of the company’s stock worth $281,000 after buying an additional 50 shares during the last quarter. Hollencrest Securities LLC increased its stake in Xcel Energy by 0.9% in the second quarter. Hollencrest Securities LLC now owns 6,527 shares of the company’s stock worth $292,000 after buying an additional 57 shares during the last quarter. Finally, Genesee Valley Trust Co. increased its stake in Xcel Energy by 2.4% in the second quarter. Genesee Valley Trust Co. now owns 5,326 shares of the company’s stock worth $238,000 after buying an additional 127 shares during the last quarter. Hedge funds and other institutional investors own 70.91% of the company’s stock.
Shares of Xcel Energy Inc. (NYSE:XEL) traded up 0.56% on Wednesday, reaching $39.67. 1,197,160 shares of the company were exchanged. The stock has a 50 day moving average price of $41.39 and a 200-day moving average price of $41.94. The stock has a market capitalization of $20.15 billion, a P/E ratio of 18.81 and a beta of 0.13. Xcel Energy Inc. has a 12 month low of $34.33 and a 12 month high of $45.42.
Xcel Energy (NYSE:XEL) last issued its quarterly earnings data on Wednesday, August 3rd. The company reported $0.39 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by $0.01. Xcel Energy had a return on equity of 10.10% and a net margin of 9.92%. The company had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.52 billion. During the same period in the prior year, the company earned $0.39 EPS. The firm’s revenue was down .6% compared to the same quarter last year. On average, equities analysts expect that Xcel Energy Inc. will post $2.20 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 20th. Shareholders of record on Thursday, September 15th will be issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 3.45%. The ex-dividend date of this dividend is Tuesday, September 13th. Xcel Energy’s dividend payout ratio is currently 64.46%.
A number of analysts recently commented on XEL shares. Zacks Investment Research downgraded shares of Xcel Energy from a “buy” rating to a “sell” rating in a report on Friday, July 15th. Argus reiterated a “buy” rating and issued a $48.00 target price on shares of Xcel Energy in a report on Monday, September 26th. SunTrust Banks Inc. dropped their target price on shares of Xcel Energy from $42.00 to $41.00 and set a “neutral” rating on the stock in a report on Monday, August 29th. Finally, JPMorgan Chase & Co. set a $49.00 target price on shares of Xcel Energy and gave the stock a “buy” rating in a report on Thursday, September 8th. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Xcel Energy has an average rating of “Hold” and an average price target of C$44.00.
In other Xcel Energy news, EVP Marvin E. Jr. Mcdaniel sold 11,900 shares of the stock in a transaction dated Friday, August 26th. The shares were sold at an average price of C$41.66, for a total transaction of C$495,754.00. Following the sale, the executive vice president now owns 79,404 shares of the company’s stock, valued at approximately C$3,307,970.64. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.20% of the company’s stock.
Xcel Energy Company Profile
Xcel Energy Inc is a public utility holding company. The Company’s operations include activity of four utility subsidiaries that serve electric and natural gas customers. Its segments are regulated electric utility, regulated natural gas utility and all other. The regulated electric utility segment generates, transmits and distributes electricity in Minnesota, Wisconsin, Michigan, North Dakota, South Dakota, Colorado, Texas and New Mexico.
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