Argent Trust Co Raises Stock Position in Xcel Energy Inc. (NASDAQ:XEL)

Argent Trust Co increased its holdings in shares of Xcel Energy Inc. (NASDAQ:XEL) by 9.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 9,864 shares of the company’s stock after purchasing an additional 885 shares during the period. Argent Trust Co’s holdings in Xcel Energy were worth $527,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in XEL. Brown Advisory Inc. raised its stake in shares of Xcel Energy by 8.2% during the fourth quarter. Brown Advisory Inc. now owns 9,751 shares of the company’s stock valued at $604,000 after purchasing an additional 736 shares during the period. Dynamic Technology Lab Private Ltd purchased a new stake in Xcel Energy during the 4th quarter worth $350,000. UBS Group AG lifted its holdings in Xcel Energy by 6.2% in the 4th quarter. UBS Group AG now owns 1,091,332 shares of the company’s stock worth $67,564,000 after buying an additional 63,870 shares in the last quarter. Balentine LLC boosted its position in Xcel Energy by 13.7% in the 4th quarter. Balentine LLC now owns 4,503 shares of the company’s stock valued at $279,000 after buying an additional 544 shares during the last quarter. Finally, Clearbridge Investments LLC purchased a new position in Xcel Energy in the 4th quarter valued at about $483,000. 78.38% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on XEL shares. Jefferies Financial Group began coverage on Xcel Energy in a research report on Thursday. They set a “hold” rating and a $70.00 target price on the stock. Morgan Stanley lifted their price objective on Xcel Energy from $62.00 to $68.00 and gave the stock an “equal weight” rating in a report on Friday, August 23rd. KeyCorp increased their target price on Xcel Energy from $65.00 to $66.00 and gave the company an “overweight” rating in a research note on Monday. Argus upgraded shares of Xcel Energy from a “hold” rating to a “buy” rating and set a $68.00 price target for the company in a research note on Monday, August 26th. Finally, Wells Fargo & Company upped their price target on shares of Xcel Energy from $57.00 to $63.00 and gave the company an “equal weight” rating in a report on Friday, August 2nd. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Xcel Energy currently has an average rating of “Moderate Buy” and an average target price of $63.54.

Xcel Energy Price Performance

Shares of NASDAQ:XEL opened at $64.06 on Friday. The company has a market cap of $35.59 billion, a PE ratio of 19.24, a P/E/G ratio of 2.81 and a beta of 0.38. Xcel Energy Inc. has a fifty-two week low of $46.79 and a fifty-two week high of $64.95. The firm has a 50-day simple moving average of $59.69 and a 200 day simple moving average of $55.76. 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 (NASDAQ:XEL) last announced its quarterly earnings results on Thursday, August 1st. The company reported $0.54 earnings per share for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.03). Xcel Energy had a return on equity of 10.94% and a net margin of 13.46%. The company had revenue of $3.03 billion for the quarter, compared to analyst estimates of $3.29 billion. During the same quarter in the previous year, the company posted $0.52 earnings per share. The firm’s revenue for the quarter was up .2% compared to the same quarter last year. On average, sell-side analysts anticipate that Xcel Energy Inc. will post 3.55 EPS for the current year.

Xcel Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, October 20th. Stockholders of record on Friday, September 13th will be given a dividend of $0.548 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $2.19 annualized dividend and a dividend yield of 3.42%. 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.