Meyer Handelman Co. Reduces Position in Xcel Energy Inc. (NASDAQ:XEL)

Meyer Handelman Co. decreased its position in Xcel Energy Inc. (NASDAQ:XEL) by 0.8% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 58,870 shares of the company’s stock after selling 475 shares during the quarter. Meyer Handelman Co.’s holdings in Xcel Energy were worth $3,164,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Turtle Creek Wealth Advisors LLC bought a new position in Xcel Energy in the fourth quarter valued at about $25,000. Criterion Capital Advisors LLC bought a new position in shares of Xcel Energy in the fourth quarter worth about $25,000. Pacific Capital Wealth Advisors Inc. bought a new position in shares of Xcel Energy in the fourth quarter worth about $25,000. Heritage Wealth Advisors bought a new position in shares of Xcel Energy in the fourth quarter worth about $25,000. Finally, Capital Analysts LLC raised its stake in shares of Xcel Energy by 293.6% in the fourth quarter. Capital Analysts LLC now owns 433 shares of the company’s stock worth $26,000 after buying an additional 323 shares during the period. Institutional investors own 78.38% of the company’s stock.

Analysts Set New Price Targets

XEL has been the topic of several recent research reports. Morgan Stanley raised their price objective on Xcel Energy from $59.00 to $65.00 and gave the stock an “equal weight” rating in a research note on Tuesday, May 28th. KeyCorp decreased their price objective 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. JPMorgan Chase & Co. decreased their price objective on Xcel Energy from $68.00 to $59.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 13th. TheStreet downgraded Xcel Energy from a “b-” rating to a “c+” rating in a research note on Thursday, March 14th. Finally, StockNews.com raised Xcel Energy from a “sell” rating to a “hold” rating in a research note on Thursday, May 2nd. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $62.27.

Xcel Energy Stock Performance

NASDAQ XEL opened at $53.37 on Friday. The stock has a market capitalization of $29.65 billion, a PE ratio of 16.03, a P/E/G ratio of 2.35 and a beta of 0.38. The business has a 50 day simple moving average of $54.55 and a two-hundred day simple moving average of $56.63. The company has a debt-to-equity ratio of 1.48, a current ratio of 0.86 and a quick ratio of 0.74. Xcel Energy Inc. has a 1-year low of $46.79 and a 1-year high of $65.62.

Xcel Energy (NASDAQ:XEL) last released its quarterly earnings results on Thursday, April 25th. The company reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.08. The business had revenue of $3.65 billion during the quarter, compared to analysts’ expectations of $4.12 billion. Xcel Energy had a return on equity of 11.03% and a net margin of 13.36%. The firm’s revenue for the quarter was down 10.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.76 EPS. On average, research analysts predict that Xcel Energy Inc. will post 3.56 EPS for the current fiscal year.

Xcel Energy Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, July 20th. Stockholders of record on Friday, June 14th will be issued a $0.5475 dividend. This represents a $2.19 dividend on an annualized basis and a dividend yield of 4.10%. The ex-dividend date is Friday, June 14th. Xcel Energy’s dividend payout ratio (DPR) is 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.