Procyon Advisors LLC Increases Stock Holdings in Xcel Energy Inc. (NASDAQ:XEL)

Procyon Advisors LLC lifted its position in Xcel Energy Inc. (NASDAQ:XEL) by 1.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 26,772 shares of the company’s stock after purchasing an additional 276 shares during the quarter. Procyon Advisors LLC’s holdings in Xcel Energy were worth $1,748,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Quarry LP purchased a new stake in shares of Xcel Energy in the fourth quarter valued at about $34,000. TruNorth Capital Management LLC acquired a new position in Xcel Energy in the second quarter valued at about $30,000. American National Bank acquired a new position in Xcel Energy in the second quarter valued at about $32,000. Kimelman & Baird LLC acquired a new position in Xcel Energy in the second quarter valued at about $35,000. Finally, West Financial Advisors LLC acquired a new position in Xcel Energy in the third quarter valued at about $43,000. Hedge funds and other institutional investors own 78.38% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on XEL. Wells Fargo & Company upped their target price on shares of Xcel Energy from $57.00 to $63.00 and gave the company an “equal weight” rating in a research report on Friday, August 2nd. Argus raised shares of 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. UBS Group upped their target price on shares of Xcel Energy from $66.00 to $67.00 and gave the company a “neutral” rating in a research report on Friday, September 20th. Jefferies Financial Group started coverage on shares of Xcel Energy in a research report on Thursday, September 19th. They issued a “hold” rating and a $70.00 target price on the stock. Finally, KeyCorp increased their price target on shares of Xcel Energy from $66.00 to $69.00 and gave the stock an “overweight” rating in a research report on Monday, September 30th. Eight research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $64.36.

Xcel Energy Stock Up 1.1 %

XEL stock opened at $63.02 on Tuesday. The company’s 50 day moving average price is $62.16 and its 200 day moving average price is $57.27. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.86 and a current ratio of 0.97. Xcel Energy Inc. has a fifty-two week low of $46.79 and a fifty-two week high of $65.64. The firm has a market capitalization of $35.02 billion, a price-to-earnings ratio of 18.92, a PEG ratio of 2.75 and a beta of 0.39.

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

Xcel Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, October 20th. Shareholders of record on Friday, September 13th will be paid a $0.548 dividend. This is a positive change from Xcel Energy’s previous quarterly dividend of $0.55. This represents a $2.19 annualized dividend and a yield of 3.48%. The ex-dividend date is Friday, September 13th. Xcel Energy’s dividend payout ratio is currently 65.77%.

About Xcel Energy

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.