Golden State Wealth Management LLC Acquires New Stake in Xcel Energy Inc. (NASDAQ:XEL)

Golden State Wealth Management LLC bought a new position in Xcel Energy Inc. (NASDAQ:XEL) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,871 shares of the company’s stock, valued at approximately $126,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in XEL. State Street Corp lifted its stake in Xcel Energy by 6.7% during the third quarter. State Street Corp now owns 37,143,025 shares of the company’s stock valued at $2,445,477,000 after purchasing an additional 2,323,448 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of Xcel Energy by 6.2% in the third quarter. Massachusetts Financial Services Co. MA now owns 15,190,756 shares of the company’s stock valued at $991,956,000 after buying an additional 892,740 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Xcel Energy by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 14,562,103 shares of the company’s stock valued at $952,091,000 after acquiring an additional 262,191 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Xcel Energy by 2.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,417,615 shares of the company’s stock worth $223,170,000 after acquiring an additional 67,820 shares in the last quarter. Finally, Brookfield Corp ON grew its holdings in shares of Xcel Energy by 520.1% in the 3rd quarter. Brookfield Corp ON now owns 2,509,031 shares of the company’s stock worth $163,840,000 after acquiring an additional 2,104,405 shares during the last quarter. 78.38% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on XEL. JPMorgan Chase & Co. upgraded Xcel Energy from a “neutral” rating to an “overweight” rating and increased their price target for the company from $69.00 to $80.00 in a research report on Thursday, December 12th. Wells Fargo & Company raised their target price on shares of Xcel Energy from $72.00 to $75.00 and gave the stock an “overweight” rating in a report on Friday. Barclays cut their price target on shares of Xcel Energy from $71.00 to $69.00 and set an “overweight” rating on the stock in a report on Wednesday, January 22nd. Jefferies Financial Group raised shares of Xcel Energy from a “hold” rating to a “buy” rating and raised their price objective for the stock from $71.00 to $76.00 in a research note on Friday, November 1st. Finally, Morgan Stanley lowered their price objective on shares of Xcel Energy from $74.00 to $72.00 and set an “equal weight” rating on the stock in a research report on Friday, November 22nd. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $69.91.

Xcel Energy Trading Down 0.8 %

NASDAQ XEL opened at $66.60 on Monday. The company has a market capitalization of $38.24 billion, a PE ratio of 19.36, a price-to-earnings-growth ratio of 2.54 and a beta of 0.43. Xcel Energy Inc. has a 1-year low of $46.79 and a 1-year high of $73.38. 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 fifty day simple moving average is $67.35 and its 200-day simple moving average is $64.95.

Xcel Energy (NASDAQ:XEL) last posted its quarterly earnings results on Thursday, February 6th. The company reported $0.81 earnings per share for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.06). Xcel Energy had a return on equity of 10.65% and a net margin of 14.40%. As a group, sell-side analysts anticipate that Xcel Energy Inc. will post 3.82 earnings per share for the current fiscal year.

Xcel Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 29th. Shareholders of record on Monday, January 6th were given a $0.5475 dividend. This represents a $2.19 annualized dividend and a yield of 3.29%. The ex-dividend date of this dividend was Monday, January 6th. Xcel Energy’s dividend payout ratio is 63.66%.

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.