Procyon Advisors LLC Has $1.93 Million Holdings in Xcel Energy Inc. (NASDAQ:XEL)

Procyon Advisors LLC lifted its position in shares of Xcel Energy Inc. (NASDAQ:XEL) by 6.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,617 shares of the company’s stock after acquiring an additional 1,845 shares during the quarter. Procyon Advisors LLC’s holdings in Xcel Energy were worth $1,932,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. State Street Corp increased its position in Xcel Energy by 6.7% in the 3rd quarter. State Street Corp now owns 37,143,025 shares of the company’s stock valued at $2,445,477,000 after acquiring an additional 2,323,448 shares during the period. Brookfield Corp ON grew its stake in shares of Xcel Energy by 520.1% in the third quarter. Brookfield Corp ON now owns 2,509,031 shares of the company’s stock worth $163,840,000 after purchasing an additional 2,104,405 shares during the last quarter. Merewether Investment Management LP bought a new stake in shares of Xcel Energy in the third quarter worth $64,301,000. Massachusetts Financial Services Co. MA raised its position in Xcel Energy by 6.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 15,190,756 shares of the company’s stock worth $991,956,000 after purchasing an additional 892,740 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its holdings in Xcel Energy by 1,265.6% during the 3rd quarter. Janus Henderson Group PLC now owns 839,146 shares of the company’s stock worth $54,797,000 after buying an additional 777,696 shares during the period. Institutional investors and hedge funds own 78.38% of the company’s stock.

Xcel Energy Price Performance

Shares of NASDAQ XEL opened at $66.72 on Friday. The company has a current ratio of 0.93, a quick ratio of 0.82 and a debt-to-equity ratio of 1.42. The firm’s 50-day moving average price is $68.42 and its 200-day moving average price is $63.41. The firm has a market capitalization of $38.31 billion, a P/E ratio of 19.80, a P/E/G ratio of 2.40 and a beta of 0.42. Xcel Energy Inc. has a 1-year low of $46.79 and a 1-year high of $73.38.

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

Xcel Energy Cuts Dividend

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Barclays increased their price target on Xcel Energy from $67.00 to $71.00 and gave the company an “overweight” rating in a research note on Tuesday, November 26th. Morgan Stanley decreased their target price on shares of Xcel Energy from $74.00 to $72.00 and set an “equal weight” rating for the company in a research report on Friday, November 22nd. Jefferies Financial Group upgraded shares of Xcel Energy from a “hold” rating to a “buy” rating and boosted their price target for the stock from $71.00 to $76.00 in a research report on Friday, November 1st. KeyCorp increased their price objective on shares of Xcel Energy from $74.00 to $79.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Finally, UBS Group boosted their target price on shares of Xcel Energy from $66.00 to $67.00 and gave the company a “neutral” rating in a report on Friday, September 20th. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, Xcel Energy currently has an average rating of “Moderate Buy” and a consensus target price of $69.67.

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.