Mission Wealth Management LP Sells 14,438 Shares of Xcel Energy Inc. (NASDAQ:XEL)

Mission Wealth Management LP lessened its holdings in Xcel Energy Inc. (NASDAQ:XEL) by 37.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 24,529 shares of the company’s stock after selling 14,438 shares during the period. Mission Wealth Management LP’s holdings in Xcel Energy were worth $1,318,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Asset Management One Co. Ltd. grew its holdings in shares of Xcel Energy by 2.6% during the fourth quarter. Asset Management One Co. Ltd. now owns 298,074 shares of the company’s stock worth $18,448,000 after purchasing an additional 7,679 shares during the last quarter. Principal Securities Inc. bought a new stake in shares of Xcel Energy during the fourth quarter worth about $896,000. Kayne Anderson Capital Advisors LP grew its holdings in shares of Xcel Energy by 3.7% during the fourth quarter. Kayne Anderson Capital Advisors LP now owns 325,159 shares of the company’s stock worth $20,131,000 after purchasing an additional 11,709 shares during the last quarter. Pacer Advisors Inc. grew its holdings in shares of Xcel Energy by 47.7% during the fourth quarter. Pacer Advisors Inc. now owns 115,016 shares of the company’s stock worth $7,121,000 after purchasing an additional 37,131 shares during the last quarter. Finally, Seven Eight Capital LP boosted its holdings in Xcel Energy by 930.5% in the third quarter. Seven Eight Capital LP now owns 45,918 shares of the company’s stock valued at $2,627,000 after acquiring an additional 41,462 shares during the last quarter. Institutional investors own 78.38% of the company’s stock.

Xcel Energy Stock Performance

NASDAQ:XEL traded down $0.06 during trading on Friday, reaching $52.69. The company’s stock had a trading volume of 1,653,017 shares, compared to its average volume of 2,811,577. The firm has a market cap of $29.28 billion, a price-to-earnings ratio of 15.82, a price-to-earnings-growth ratio of 2.32 and a beta of 0.37. The company has a debt-to-equity ratio of 1.48, a quick ratio of 0.74 and a current ratio of 0.86. The firm has a 50 day moving average of $54.37 and a 200-day moving average of $56.07. Xcel Energy Inc. has a 12 month low of $46.79 and a 12 month high of $65.62.

Xcel Energy (NASDAQ:XEL) last announced its quarterly earnings data on Thursday, April 25th. The company reported $0.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.80 by $0.08. The firm 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 business’s revenue for the quarter was down 10.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.76 EPS. Research analysts expect that Xcel Energy Inc. will post 3.56 EPS for the current fiscal year.

Xcel Energy Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, July 20th. Stockholders of record on Friday, June 14th will be paid a dividend of $0.5475 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $2.19 annualized dividend and a dividend yield of 4.16%. Xcel Energy’s payout ratio is 65.77%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. JPMorgan Chase & Co. reduced their target price on Xcel Energy from $68.00 to $59.00 and set a “neutral” rating on the stock in a report on Wednesday, March 13th. Barclays boosted their price target on Xcel Energy from $56.00 to $57.00 and gave the company an “overweight” rating in a research note on Tuesday, April 30th. Morgan Stanley dropped their price target on Xcel Energy from $65.00 to $62.00 and set an “equal weight” rating on the stock in a research note on Monday, June 24th. Wolfe Research raised Xcel Energy from a “peer perform” rating to an “outperform” rating and set a $58.00 price target on the stock in a research note on Monday, March 11th. Finally, KeyCorp dropped their price target on Xcel Energy from $68.00 to $65.00 and set an “overweight” rating on the stock in a research note on Friday, April 19th. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $62.00.

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.