Envestnet Asset Management Inc. Acquires 465,884 Shares of Xcel Energy Inc. (NASDAQ:XEL)

Envestnet Asset Management Inc. raised its holdings in Xcel Energy Inc. (NASDAQ:XEL) by 57.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,270,615 shares of the company’s stock after acquiring an additional 465,884 shares during the period. Envestnet Asset Management Inc. owned about 0.23% of Xcel Energy worth $67,864,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. ProShare Advisors LLC lifted its stake in shares of Xcel Energy by 23.2% in the 1st quarter. ProShare Advisors LLC now owns 643,986 shares of the company’s stock valued at $34,614,000 after acquiring an additional 121,118 shares during the last quarter. Allianz Asset Management GmbH raised its position in Xcel Energy by 7.5% in the fourth quarter. Allianz Asset Management GmbH now owns 419,106 shares of the company’s stock valued at $25,947,000 after purchasing an additional 29,307 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of Xcel Energy by 2.4% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,625,530 shares of the company’s stock valued at $87,372,000 after purchasing an additional 38,653 shares in the last quarter. Focus Financial Network Inc. ADV bought a new stake in shares of Xcel Energy during the fourth quarter worth about $9,120,000. Finally, Daiwa Securities Group Inc. increased its stake in shares of Xcel Energy by 24.8% in the first quarter. Daiwa Securities Group Inc. now owns 100,969 shares of the company’s stock valued at $5,427,000 after buying an additional 20,068 shares during the period. Institutional investors and hedge funds own 78.38% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on XEL. KeyCorp lifted their target price on shares of Xcel Energy from $65.00 to $66.00 and gave the stock an “overweight” rating in a research report on Monday. Wells Fargo & Company lifted their price target on shares of Xcel Energy from $57.00 to $63.00 and gave the stock an “equal weight” rating in a report on Friday, August 2nd. Morgan Stanley increased their price objective on Xcel Energy from $62.00 to $68.00 and gave the company an “equal weight” rating in a report on Friday, August 23rd. Finally, Argus raised Xcel Energy from a “hold” rating to a “buy” rating and set a $68.00 target price for the company in a research report on Monday, August 26th. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $63.00.

Xcel Energy Trading Down 0.1 %

Shares of XEL stock opened at $64.50 on Wednesday. Xcel Energy Inc. has a fifty-two week low of $46.79 and a fifty-two week high of $64.95. 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 stock has a 50 day simple moving average of $59.26 and a two-hundred day simple moving average of $55.65. The company has a market cap of $35.84 billion, a P/E ratio of 19.37, a PEG ratio of 2.81 and a beta of 0.38.

Xcel Energy (NASDAQ:XEL) last released its 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 company had revenue of $3.03 billion for the quarter, compared to analyst estimates of $3.29 billion. Xcel Energy had a net margin of 13.46% and a return on equity of 10.94%. The firm’s revenue was up .2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.52 EPS. Research analysts forecast that Xcel Energy Inc. will post 3.55 earnings per share for the current year.

Xcel Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, October 20th. Stockholders of record on Friday, September 13th will be paid a $0.548 dividend. The ex-dividend date is Friday, September 13th. This is an increase from Xcel Energy’s previous quarterly dividend of $0.55. This represents a $2.19 annualized dividend and a dividend yield of 3.40%. Xcel Energy’s dividend payout ratio (DPR) is currently 65.77%.

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.