Victory Capital Management Inc. Cuts Stock Position in Xcel Energy Inc. (NASDAQ:XEL)

Victory Capital Management Inc. lessened its stake in shares of Xcel Energy Inc. (NASDAQ:XEL) by 6.0% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,587,563 shares of the company’s stock after selling 481,070 shares during the period. Victory Capital Management Inc.’s holdings in Xcel Energy were worth $405,252,000 at the end of the most recent reporting period.

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

Xcel Energy Price Performance

NASDAQ:XEL opened at $63.46 on Friday. The stock has a market cap of $35.26 billion, a PE ratio of 19.06, a P/E/G ratio of 2.70 and a beta of 0.37. The company has a quick ratio of 0.86, a current ratio of 0.97 and a debt-to-equity ratio of 1.54. The business’s 50-day simple moving average is $57.48 and its two-hundred day simple moving average is $55.30. Xcel Energy Inc. has a 52 week low of $46.79 and a 52 week high of $64.25.

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

Xcel Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, October 20th. Investors of record on Friday, September 13th will be given a $0.548 dividend. This is an increase from Xcel Energy’s previous quarterly dividend of $0.55. This represents a $2.19 dividend on an annualized basis and a dividend yield of 3.45%. The ex-dividend date of this dividend is Friday, September 13th. Xcel Energy’s payout ratio is currently 65.77%.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Wells Fargo & Company lifted their price target on shares of Xcel Energy from $57.00 to $63.00 and gave the stock an “equal weight” rating in a research note on Friday, August 2nd. Argus raised Xcel Energy from a “hold” rating to a “buy” rating and set a $68.00 target price on the stock in a research report on Monday, August 26th. Finally, Morgan Stanley boosted their price target on Xcel Energy from $62.00 to $68.00 and gave the company an “equal weight” rating in a research note on Friday, August 23rd. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $62.92.

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.