Gateway Wealth Partners LLC Grows Stock Position in Xcel Energy Inc. (NASDAQ:XEL)

Gateway Wealth Partners LLC boosted its stake in shares of Xcel Energy Inc. (NASDAQ:XEL) by 4.3% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 4,413 shares of the company’s stock after buying an additional 182 shares during the period. Gateway Wealth Partners LLC’s holdings in Xcel Energy were worth $236,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of XEL. TruNorth Capital Management LLC purchased a new stake in Xcel Energy in the second quarter worth $30,000. American National Bank purchased a new stake in Xcel Energy in the second quarter worth $32,000. Quarry LP purchased a new position in shares of Xcel Energy during the fourth quarter valued at $34,000. Rothschild Investment LLC purchased a new position in shares of Xcel Energy during the second quarter valued at $37,000. Finally, YHB Investment Advisors Inc. purchased a new position in shares of Xcel Energy during the first quarter valued at $38,000. Hedge funds and other institutional investors own 78.38% of the company’s stock.

Wall Street Analysts Forecast Growth

XEL has been the topic of several research reports. Wells Fargo & Company raised their price target on Xcel Energy from $57.00 to $63.00 and gave the company an “equal weight” rating in a research note on Friday, August 2nd. KeyCorp raised their price target on Xcel Energy from $66.00 to $69.00 and gave the company an “overweight” rating in a research note on Monday. UBS Group raised their price target on Xcel Energy from $66.00 to $67.00 and gave the company a “neutral” rating in a research note on Friday, September 20th. Jefferies Financial Group initiated coverage on Xcel Energy in a research note on Thursday, September 19th. They set a “hold” rating and a $70.00 price target on the stock. Finally, Argus raised Xcel Energy from a “hold” rating to a “buy” rating and set a $68.00 price objective on the stock in a research report on Monday, August 26th. Eight research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, Xcel Energy has an average rating of “Hold” and a consensus target price of $64.36.

Xcel Energy Price Performance

Shares of NASDAQ XEL opened at $65.30 on Tuesday. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.86 and a current ratio of 0.97. The company has a market cap of $36.28 billion, a PE ratio of 19.61, a P/E/G ratio of 2.82 and a beta of 0.38. The business has a 50-day simple moving average of $61.02 and a two-hundred day simple moving average of $56.50. Xcel Energy Inc. has a fifty-two week low of $46.79 and a fifty-two week high of $65.42.

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

Xcel Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, October 20th. Investors of record on Friday, September 13th will be given a $0.548 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $2.19 dividend on an annualized basis and a yield of 3.36%. This is a positive change from Xcel Energy’s previous quarterly dividend of $0.55. Xcel Energy’s dividend payout ratio is currently 65.77%.

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.