EverSource Wealth Advisors LLC Has $524,000 Stock Position in Xcel Energy Inc. (NASDAQ:XEL)

EverSource Wealth Advisors LLC lifted its position in shares of Xcel Energy Inc. (NASDAQ:XEL) by 44.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,987 shares of the company’s stock after purchasing an additional 2,748 shares during the period. EverSource Wealth Advisors LLC’s holdings in Xcel Energy were worth $524,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Mount Yale Investment Advisors LLC acquired a new position in shares of Xcel Energy during the second quarter worth $212,000. Profund Advisors LLC grew its position in shares of Xcel Energy by 15.6% during the 2nd quarter. Profund Advisors LLC now owns 70,763 shares of the company’s stock worth $3,779,000 after buying an additional 9,567 shares during the period. Legacy Financial Advisors Inc. bought a new stake in Xcel Energy in the 2nd quarter valued at about $270,000. Summit Trail Advisors LLC increased its stake in Xcel Energy by 4.4% during the 2nd quarter. Summit Trail Advisors LLC now owns 21,852 shares of the company’s stock valued at $1,178,000 after purchasing an additional 918 shares in the last quarter. Finally, Thrivent Financial for Lutherans increased its holdings in Xcel Energy by 21.3% during the 2nd quarter. Thrivent Financial for Lutherans now owns 662,942 shares of the company’s stock worth $35,408,000 after purchasing an additional 116,477 shares in the last quarter. Institutional investors and hedge funds own 78.38% of the company’s stock.

Xcel Energy Stock Performance

Shares of XEL stock opened at $63.96 on Tuesday. The stock has a fifty day moving average of $60.11 and a 200 day moving average of $56.06. The firm has a market capitalization of $35.54 billion, a price-to-earnings ratio of 19.21, a PEG ratio of 2.81 and a beta of 0.38. The company has a quick ratio of 0.86, a current ratio of 0.97 and a debt-to-equity ratio of 1.54. Xcel Energy Inc. has a 52 week low of $46.79 and a 52 week high of $64.95.

Xcel Energy (NASDAQ:XEL) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.03). The business had revenue of $3.03 billion for the quarter, compared to analysts’ expectations of $3.29 billion. Xcel Energy had a net margin of 13.46% and a return on equity of 10.94%. The company’s revenue was up .2% on a year-over-year basis. During the same period last year, the business earned $0.52 earnings per share. As a group, research analysts expect that Xcel Energy Inc. will post 3.55 earnings per share for the current year.

Xcel Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, October 20th. Investors of record on Friday, September 13th will be paid a $0.548 dividend. This is a boost from Xcel Energy’s previous quarterly dividend of $0.55. The ex-dividend date is Friday, September 13th. This represents a $2.19 dividend on an annualized basis and a yield of 3.43%. Xcel Energy’s payout ratio is presently 65.77%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on XEL shares. Argus upgraded shares of Xcel Energy from a “hold” rating to a “buy” rating and set a $68.00 price objective for the company in a research note on Monday, August 26th. UBS Group lifted their target price on shares of Xcel Energy from $66.00 to $67.00 and gave the stock a “neutral” rating in a research note on Friday. Morgan Stanley upped their price target on shares of Xcel Energy from $62.00 to $68.00 and gave the company an “equal weight” rating in a research note on Friday, August 23rd. KeyCorp lifted their price objective on shares of Xcel Energy from $65.00 to $66.00 and gave the company an “overweight” rating in a research note on Monday, September 16th. Finally, Wells Fargo & Company increased their target price on Xcel Energy from $57.00 to $63.00 and gave the stock an “equal weight” rating in a research report on Friday, August 2nd. Eight investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $63.79.

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.