Occidental Asset Management LLC Takes Position in Xcel Energy Inc. (NASDAQ:XEL)

Occidental Asset Management LLC purchased a new stake in Xcel Energy Inc. (NASDAQ:XEL) during the fourth quarter, Holdings Channel reports. The institutional investor purchased 3,217 shares of the company’s stock, valued at approximately $217,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Integris Wealth Management LLC raised its holdings in Xcel Energy by 2.7% in the third quarter. Integris Wealth Management LLC now owns 6,163 shares of the company’s stock valued at $402,000 after acquiring an additional 163 shares in the last quarter. Bond & Devick Financial Network Inc. increased its holdings in Xcel Energy by 1.1% in the third quarter. Bond & Devick Financial Network Inc. now owns 15,972 shares of the company’s stock valued at $1,043,000 after buying an additional 168 shares during the last quarter. LRI Investments LLC raised its stake in Xcel Energy by 5.9% in the third quarter. LRI Investments LLC now owns 3,037 shares of the company’s stock valued at $209,000 after buying an additional 170 shares in the last quarter. Gateway Wealth Partners LLC boosted its position in shares of Xcel Energy by 4.3% during the 2nd quarter. Gateway Wealth Partners LLC now owns 4,413 shares of the company’s stock worth $236,000 after acquiring an additional 182 shares in the last quarter. Finally, Sumitomo Life Insurance Co. increased its holdings in shares of Xcel Energy by 2.9% in the 3rd quarter. Sumitomo Life Insurance Co. now owns 6,591 shares of the company’s stock valued at $430,000 after acquiring an additional 183 shares during the last quarter. Hedge funds and other institutional investors own 78.38% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on XEL shares. JPMorgan Chase & Co. upgraded Xcel Energy from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $69.00 to $80.00 in a research note on Thursday, December 12th. Jefferies Financial Group upgraded Xcel Energy from a “hold” rating to a “buy” rating and lifted their target price for the stock from $71.00 to $76.00 in a research report on Friday, November 1st. Morgan Stanley dropped their price target on Xcel Energy from $74.00 to $72.00 and set an “equal weight” rating on the stock in a research note on Friday, November 22nd. Barclays lifted their target price on shares of Xcel Energy from $67.00 to $71.00 and gave the company an “overweight” rating in a report on Tuesday, November 26th. Finally, KeyCorp lifted their price objective on shares of Xcel Energy from $74.00 to $79.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, Xcel Energy currently has a consensus rating of “Moderate Buy” and an average price target of $69.67.

Xcel Energy Stock Up 0.8 %

Shares of NASDAQ XEL opened at $66.72 on Friday. Xcel Energy Inc. has a 52 week low of $46.79 and a 52 week high of $73.38. The company has a quick ratio of 0.82, a current ratio of 0.93 and a debt-to-equity ratio of 1.42. The stock has a market capitalization of $38.31 billion, a price-to-earnings ratio of 19.80, a price-to-earnings-growth ratio of 2.40 and a beta of 0.42. The firm has a 50-day moving average price of $68.42 and a 200 day moving average price of $63.41.

Xcel Energy (NASDAQ:XEL) last posted its earnings results on Thursday, October 31st. The company reported $1.25 earnings per share for the quarter, missing the consensus estimate of $1.26 by ($0.01). The firm had revenue of $3.64 billion during the quarter, compared to analyst estimates of $3.93 billion. Xcel Energy had a net margin of 13.67% and a return on equity of 10.76%. The firm’s revenue for the quarter was down .5% on a year-over-year basis. During the same period last year, the company posted $1.23 EPS. Equities research analysts anticipate that Xcel Energy Inc. will post 3.54 EPS for the current fiscal year.

Xcel Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 29th. Stockholders of record on Monday, January 6th will be given a $0.5475 dividend. The ex-dividend date is Monday, January 6th. This represents a $2.19 annualized dividend and a dividend yield of 3.28%. Xcel Energy’s dividend payout ratio is currently 64.99%.

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.