Park Place Capital Corp Sells 1,532 Shares of Xcel Energy Inc. (NASDAQ:XEL)

Park Place Capital Corp lowered its stake in shares of Xcel Energy Inc. (NASDAQ:XEL) by 22.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,394 shares of the company’s stock after selling 1,532 shares during the period. Park Place Capital Corp’s holdings in Xcel Energy were worth $290,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Asset Management One Co. Ltd. raised its stake in Xcel Energy by 2.6% during the 4th quarter. Asset Management One Co. Ltd. now owns 298,074 shares of the company’s stock worth $18,448,000 after buying an additional 7,679 shares during the period. Principal Securities Inc. bought a new position in shares of Xcel Energy in the 4th quarter worth $896,000. Kayne Anderson Capital Advisors LP grew its position in Xcel Energy by 3.7% in the 4th quarter. Kayne Anderson Capital Advisors LP now owns 325,159 shares of the company’s stock valued at $20,131,000 after purchasing an additional 11,709 shares during the period. Pacer Advisors Inc. increased its stake in Xcel Energy by 47.7% during the 4th quarter. Pacer Advisors Inc. now owns 115,016 shares of the company’s stock valued at $7,121,000 after purchasing an additional 37,131 shares in the last quarter. Finally, Seven Eight Capital LP raised its holdings in Xcel Energy by 930.5% during the third quarter. Seven Eight Capital LP now owns 45,918 shares of the company’s stock worth $2,627,000 after buying an additional 41,462 shares during the last quarter. Institutional investors own 78.38% of the company’s stock.

Xcel Energy Price Performance

XEL opened at $52.43 on Tuesday. Xcel Energy Inc. has a fifty-two week low of $46.79 and a fifty-two week high of $65.62. The firm has a 50-day moving average of $54.58 and a 200 day moving average of $56.31. 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 firm has a market cap of $29.13 billion, a P/E ratio of 15.74, a PEG ratio of 2.35 and a beta of 0.37.

Xcel Energy (NASDAQ:XEL) last released its earnings results on Thursday, April 25th. The company reported $0.88 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.08. Xcel Energy had a net margin of 13.36% and a return on equity of 11.03%. The firm had revenue of $3.65 billion during the quarter, compared to the consensus estimate of $4.12 billion. During the same period in the prior year, the firm earned $0.76 EPS. The company’s revenue was down 10.6% compared to the same quarter last year. On average, research analysts expect 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. Shareholders of record on Friday, June 14th will be given a $0.5475 dividend. This represents a $2.19 dividend on an annualized basis and a yield of 4.18%. The ex-dividend date is Friday, June 14th. Xcel Energy’s dividend payout ratio is currently 65.77%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on XEL shares. JPMorgan Chase & Co. dropped their price objective on shares of Xcel Energy from $68.00 to $59.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 13th. Morgan Stanley dropped their price objective on shares of Xcel Energy from $65.00 to $62.00 and set an “equal weight” rating on the stock in a research note on Monday, June 24th. Barclays raised their price objective on shares of Xcel Energy from $56.00 to $57.00 and gave the company an “overweight” rating in a research note on Tuesday, April 30th. Wolfe Research raised shares of Xcel Energy from a “peer perform” rating to an “outperform” rating and set a $58.00 price objective on the stock in a research note on Monday, March 11th. Finally, Bank of America raised their price objective on shares of Xcel Energy from $63.00 to $66.00 and gave the company a “buy” rating in a research note on Monday, April 29th. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $62.00.

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.