Gabelli Funds LLC Sells 12,283 Shares of Xcel Energy Inc. (NASDAQ:XEL)

Gabelli Funds LLC decreased its position in Xcel Energy Inc. (NASDAQ:XEL) by 2.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 548,216 shares of the company’s stock after selling 12,283 shares during the period. Gabelli Funds LLC owned approximately 0.10% of Xcel Energy worth $29,280,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Price T Rowe Associates Inc. MD lifted its holdings in shares of Xcel Energy by 770.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 7,552,625 shares of the company’s stock valued at $405,955,000 after purchasing an additional 6,684,499 shares in the last quarter. Jupiter Asset Management Ltd. purchased a new position in Xcel Energy in the 1st quarter worth about $80,283,000. Federated Hermes Inc. boosted its holdings in shares of Xcel Energy by 120.2% during the 2nd quarter. Federated Hermes Inc. now owns 2,379,615 shares of the company’s stock valued at $127,095,000 after acquiring an additional 1,299,025 shares during the last quarter. American Century Companies Inc. boosted its holdings in shares of Xcel Energy by 130.4% during the 2nd quarter. American Century Companies Inc. now owns 2,084,345 shares of the company’s stock valued at $111,325,000 after acquiring an additional 1,179,823 shares during the last quarter. Finally, Zimmer Partners LP raised its holdings in shares of Xcel Energy by 1,765.0% during the first quarter. Zimmer Partners LP now owns 932,505 shares of the company’s stock valued at $50,122,000 after purchasing an additional 882,505 shares during the last quarter. 78.38% of the stock is currently owned by institutional investors.

Xcel Energy Stock Up 0.1 %

Shares of XEL stock opened at $64.13 on Monday. The company has a market capitalization of $35.63 billion, a price-to-earnings ratio of 19.26, a PEG ratio of 2.81 and a beta of 0.38. The company has a debt-to-equity ratio of 1.54, a current ratio of 0.97 and a quick ratio of 0.86. The company’s fifty day moving average price is $59.89 and its 200-day moving average price is $55.96. Xcel Energy Inc. has a one year low of $46.79 and a one year high of $64.95.

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

Xcel Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, October 20th. Stockholders of record on Friday, September 13th will be issued a $0.548 dividend. This represents a $2.19 annualized dividend and a dividend yield of 3.42%. The ex-dividend date of this dividend is Friday, September 13th. This is an increase from Xcel Energy’s previous quarterly dividend of $0.55. Xcel Energy’s payout ratio is 65.77%.

Analyst Ratings Changes

XEL has been the topic of several research reports. KeyCorp raised their target price on shares of Xcel Energy from $65.00 to $66.00 and gave the stock an “overweight” rating in a report on Monday, September 16th. Wells Fargo & Company lifted their price objective on Xcel Energy from $57.00 to $63.00 and gave the stock an “equal weight” rating in a report on Friday, August 2nd. Jefferies Financial Group began coverage on Xcel Energy in a report on Thursday. They issued a “hold” rating and a $70.00 target price on the stock. Morgan Stanley boosted their price target 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, UBS Group increased their price objective on shares of Xcel Energy from $66.00 to $67.00 and gave the stock a “neutral” rating in a research note on Friday. Eight equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $63.79.

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.