Kingswood Wealth Advisors LLC Decreases Stake in Xcel Energy Inc. (NASDAQ:XEL)

Kingswood Wealth Advisors LLC lowered its position in shares of Xcel Energy Inc. (NASDAQ:XEL) by 53.7% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 5,575 shares of the company’s stock after selling 6,477 shares during the quarter. Kingswood Wealth Advisors LLC’s holdings in Xcel Energy were worth $300,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of XEL. Mutual Advisors LLC grew its holdings in shares of Xcel Energy by 32.2% during the 3rd quarter. Mutual Advisors LLC now owns 4,728 shares of the company’s stock worth $271,000 after purchasing an additional 1,152 shares during the period. Synovus Financial Corp grew its holdings in shares of Xcel Energy by 107.1% during the 3rd quarter. Synovus Financial Corp now owns 8,700 shares of the company’s stock worth $498,000 after purchasing an additional 4,500 shares during the period. Gotham Asset Management LLC purchased a new position in Xcel Energy in the 3rd quarter worth approximately $322,000. Gallagher Fiduciary Advisors LLC grew its position in Xcel Energy by 4.4% in the third quarter. Gallagher Fiduciary Advisors LLC now owns 14,943 shares of the company’s stock valued at $855,000 after acquiring an additional 636 shares in the last quarter. Finally, Quadrature Capital Ltd grew its position in Xcel Energy by 164.9% in the third quarter. Quadrature Capital Ltd now owns 134,957 shares of the company’s stock valued at $7,722,000 after acquiring an additional 84,012 shares in the last quarter. Hedge funds and other institutional investors own 78.38% of the company’s stock.

Wall Street Analysts Forecast Growth

XEL has been the subject of several recent research reports. Morgan Stanley lowered their price objective on shares of Xcel Energy from $65.00 to $62.00 and set an “equal weight” rating for the company in a research report on Monday, June 24th. Evercore ISI increased their price objective on shares of Xcel Energy from $54.00 to $59.00 and gave the company an “outperform” rating in a research report on Friday, April 26th. KeyCorp lowered their price objective on shares of Xcel Energy from $68.00 to $65.00 and set an “overweight” rating for the company in a research report on Friday, April 19th. Barclays increased their price objective on shares of Xcel Energy from $56.00 to $57.00 and gave the company an “overweight” rating in a research report on Tuesday, April 30th. Finally, StockNews.com upgraded Xcel Energy from a “sell” rating to a “hold” rating in a research note on Thursday, May 2nd. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Xcel Energy has a consensus rating of “Moderate Buy” and a consensus target price of $62.00.

Xcel Energy Stock Performance

XEL stock opened at $53.41 on Friday. The company has a debt-to-equity ratio of 1.48, a quick ratio of 0.74 and a current ratio of 0.86. The stock has a market capitalization of $29.68 billion, a price-to-earnings ratio of 16.04, a PEG ratio of 2.37 and a beta of 0.38. Xcel Energy Inc. has a 1 year low of $46.79 and a 1 year high of $65.62. The stock’s fifty day moving average is $54.58 and its two-hundred day moving average is $56.40.

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

Xcel Energy Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, July 20th. Investors of record on Friday, June 14th will be issued a dividend of $0.5475 per share. This represents a $2.19 dividend on an annualized basis and a yield of 4.10%. The ex-dividend date is Friday, June 14th. Xcel Energy’s payout ratio is currently 65.77%.

Xcel Energy 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.