Stewart & Patten Co. LLC Has $16.91 Million Holdings in Xcel Energy Inc. (NASDAQ:XEL)

Stewart & Patten Co. LLC lifted its position in shares of Xcel Energy Inc. (NASDAQ:XEL) by 1.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 314,512 shares of the company’s stock after purchasing an additional 4,589 shares during the quarter. Xcel Energy makes up about 2.5% of Stewart & Patten Co. LLC’s investment portfolio, making the stock its 22nd largest position. Stewart & Patten Co. LLC owned 0.06% of Xcel Energy worth $16,905,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the company. Oliver Luxxe Assets LLC acquired a new stake in shares of Xcel Energy during the 1st quarter worth approximately $5,111,000. DeDora Capital Inc. boosted its stake in Xcel Energy by 15.0% in the 1st quarter. DeDora Capital Inc. now owns 18,595 shares of the company’s stock valued at $999,000 after buying an additional 2,425 shares in the last quarter. Procyon Advisors LLC boosted its stake in Xcel Energy by 26.9% in the 1st quarter. Procyon Advisors LLC now owns 23,469 shares of the company’s stock valued at $1,261,000 after buying an additional 4,970 shares in the last quarter. First National Bank Sioux Falls boosted its stake in Xcel Energy by 19.8% in the 1st quarter. First National Bank Sioux Falls now owns 4,079 shares of the company’s stock valued at $219,000 after buying an additional 675 shares in the last quarter. Finally, Viking Fund Management LLC acquired a new stake in Xcel Energy in the 1st quarter valued at $5,504,000. Institutional investors and hedge funds own 78.38% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on the company. TheStreet lowered Xcel Energy from a “b-” rating to a “c+” rating in a research note on Thursday, March 14th. Evercore ISI lifted their price objective on Xcel Energy from $54.00 to $59.00 and gave the company an “outperform” rating in a research report on Friday, April 26th. Morgan Stanley cut their price objective on Xcel Energy from $65.00 to $62.00 and set an “equal weight” rating for the company in a research report on Monday, June 24th. StockNews.com upgraded Xcel Energy from a “sell” rating to a “hold” rating in a research report on Thursday, May 2nd. Finally, Wolfe Research upgraded Xcel Energy from a “peer perform” rating to an “outperform” rating and set a $58.00 price objective for the company in a research report on Monday, March 11th. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, Xcel Energy presently has an average rating of “Moderate Buy” and a consensus target price of $62.00.

Xcel Energy Trading Down 1.8 %

Shares of XEL stock traded down $0.98 on Monday, reaching $52.43. 2,158,359 shares of the stock were exchanged, compared to its average volume of 4,774,862. The stock has a market cap of $29.13 billion, a PE ratio of 15.74, a P/E/G ratio of 2.35 and a beta of 0.37. Xcel Energy Inc. has a one year low of $46.79 and a one year high of $65.62. The company has a debt-to-equity ratio of 1.48, a current ratio of 0.86 and a quick ratio of 0.74. The stock has a 50 day moving average price of $54.58 and a 200 day moving average price of $56.31.

Xcel Energy (NASDAQ:XEL) last released its earnings results on Thursday, April 25th. The company reported $0.88 earnings per share for the quarter, topping analysts’ consensus estimates of $0.80 by $0.08. The company had revenue of $3.65 billion during the quarter, compared to the consensus estimate of $4.12 billion. Xcel Energy had a return on equity of 11.03% and a net margin of 13.36%. The firm’s quarterly revenue was down 10.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.76 earnings per share. Equities research analysts forecast that Xcel Energy Inc. will post 3.56 EPS for the current fiscal year.

Xcel Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, July 20th. Investors of record on Friday, June 14th will be issued a $0.5475 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $2.19 dividend on an annualized basis and a yield of 4.18%. Xcel Energy’s dividend payout ratio is presently 65.77%.

Xcel Energy 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.