Brookstone Capital Management Sells 695 Shares of Xcel Energy Inc. (NASDAQ:XEL)

Brookstone Capital Management reduced its stake in Xcel Energy Inc. (NASDAQ:XEL) by 11.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,448 shares of the company’s stock after selling 695 shares during the period. Brookstone Capital Management’s holdings in Xcel Energy were worth $293,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Criterion Capital Advisors LLC acquired a new stake in shares of Xcel Energy in the 4th quarter valued at approximately $25,000. Heritage Wealth Advisors acquired a new stake in Xcel Energy during the 4th quarter worth approximately $25,000. Turtle Creek Wealth Advisors LLC acquired a new stake in Xcel Energy during the 4th quarter worth approximately $25,000. Pacific Capital Wealth Advisors Inc. acquired a new stake in Xcel Energy during the 4th quarter worth approximately $25,000. Finally, Capital Analysts LLC boosted its position in Xcel Energy by 293.6% during the 4th 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. 78.38% of the stock is currently owned by institutional investors and hedge funds.

Xcel Energy Stock Performance

NASDAQ:XEL opened at $53.20 on Wednesday. The company has a fifty day moving average of $54.53 and a 200-day moving average of $56.24. The firm has a market capitalization of $29.56 billion, a P/E ratio of 15.98, a P/E/G ratio of 2.35 and a beta of 0.37. The company has a quick ratio of 0.74, a current ratio of 0.86 and a debt-to-equity ratio of 1.48. Xcel Energy Inc. has a twelve month low of $46.79 and a twelve month high of $65.62.

Xcel Energy (NASDAQ:XEL) last announced its quarterly earnings results on Thursday, April 25th. The company reported $0.88 EPS 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 business had revenue of $3.65 billion during the quarter, compared to analyst estimates of $4.12 billion. During the same quarter in the previous year, the business posted $0.76 EPS. Xcel Energy’s quarterly revenue was down 10.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Xcel Energy Inc. will post 3.56 EPS for the current year.

Xcel Energy Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, July 20th. Shareholders of record on Friday, June 14th will be issued a dividend of $0.5475 per share. The ex-dividend date is Friday, June 14th. This represents a $2.19 annualized dividend and a yield of 4.12%. Xcel Energy’s payout ratio is 65.77%.

Analyst Upgrades and Downgrades

Several research firms recently commented on XEL. JPMorgan Chase & Co. cut their target price on shares of Xcel Energy from $68.00 to $59.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 13th. Wolfe Research upgraded shares of Xcel Energy from a “peer perform” rating to an “outperform” rating and set a $58.00 target price on the stock in a research report on Monday, March 11th. Morgan Stanley cut their target price on shares of Xcel Energy from $65.00 to $62.00 and set an “equal weight” rating on the stock in a research report on Monday, June 24th. Bank of America boosted their price target on shares of Xcel Energy from $63.00 to $66.00 and gave the stock a “buy” rating in a research report on Monday, April 29th. Finally, Barclays boosted their price target on shares of Xcel Energy from $56.00 to $57.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 30th. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $62.00.

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.