Xcel Energy Inc. (NASDAQ:XEL) Shares Sold by Texas Permanent School Fund Corp

Texas Permanent School Fund Corp cut its position in shares of Xcel Energy Inc. (NASDAQ:XEL) by 20.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 91,209 shares of the company’s stock after selling 22,856 shares during the quarter. Texas Permanent School Fund Corp’s holdings in Xcel Energy were worth $4,871,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Heritage Wealth Advisors acquired a new stake in shares of Xcel Energy in the fourth quarter valued at about $25,000. Tidemark LLC acquired a new stake in shares of Xcel Energy in the fourth quarter valued at about $29,000. TruNorth Capital Management LLC acquired a new stake in shares of Xcel Energy in the second quarter valued at about $30,000. American National Bank acquired a new stake in Xcel Energy during the 2nd quarter valued at approximately $32,000. Finally, Quarry LP acquired a new stake in Xcel Energy during the 4th quarter valued at approximately $34,000. Institutional investors and hedge funds own 78.38% of the company’s stock.

Xcel Energy Stock Performance

XEL opened at $63.89 on Friday. The company has a market cap of $35.50 billion, a PE ratio of 19.19, a price-to-earnings-growth ratio of 2.77 and a beta of 0.38. The stock has a 50-day moving average of $58.55 and a 200-day moving average of $55.45. Xcel Energy Inc. has a 52-week low of $46.79 and a 52-week high of $64.43. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.86 and a current ratio of 0.97.

Xcel Energy (NASDAQ:XEL) last posted its quarterly earnings data 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 for the quarter, compared to analyst estimates of $3.29 billion. During the same period in the prior year, the firm posted $0.52 EPS. Xcel Energy’s revenue for the quarter was up .2% on a year-over-year basis. As a group, equities research analysts forecast that Xcel Energy Inc. will post 3.55 earnings per share for the current fiscal year.

Xcel Energy Increases Dividend

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

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Wells Fargo & Company raised their price objective 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. Morgan Stanley raised their price objective on Xcel Energy from $62.00 to $68.00 and gave the company an “equal weight” rating in a research note on Friday, August 23rd. Finally, Argus raised Xcel Energy from a “hold” rating to a “buy” rating and set a $68.00 target price on the stock in a report on Monday, August 26th. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $62.92.

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.