Algert Global LLC Makes New $387,000 Investment in Xcel Energy Inc. (NASDAQ:XEL)

Algert Global LLC purchased a new position in shares of Xcel Energy Inc. (NASDAQ:XEL) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 7,243 shares of the company’s stock, valued at approximately $387,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. TruNorth Capital Management LLC bought a new stake in Xcel Energy during the 2nd quarter worth $30,000. American National Bank acquired a new position in shares of Xcel Energy in the 2nd quarter valued at about $32,000. Quarry LP acquired a new position in shares of Xcel Energy in the 4th quarter valued at about $34,000. Rothschild Investment LLC acquired a new position in shares of Xcel Energy in the 2nd quarter valued at about $37,000. Finally, YHB Investment Advisors Inc. acquired a new position in shares of Xcel Energy in the 1st quarter valued at about $38,000. Institutional investors own 78.38% of the company’s stock.

Xcel Energy Price Performance

Xcel Energy stock opened at $63.01 on Tuesday. The business’s 50 day simple moving average is $61.67 and its 200 day simple moving average is $56.85. Xcel Energy Inc. has a 12 month low of $46.79 and a 12 month high of $65.64. The company has a market cap of $35.01 billion, a price-to-earnings ratio of 18.92, a PEG ratio of 2.82 and a beta of 0.39. The company has a current ratio of 0.97, a quick ratio of 0.86 and a debt-to-equity ratio of 1.54.

Xcel Energy (NASDAQ:XEL) last announced 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 net margin of 13.46% and a return on equity of 10.94%. The firm had revenue of $3.03 billion for the quarter, compared to the consensus estimate of $3.29 billion. During the same period last year, the company posted $0.52 earnings per share. Xcel Energy’s revenue for the quarter was up .2% on a year-over-year basis. Sell-side analysts forecast that Xcel Energy Inc. will post 3.55 EPS for the current year.

Xcel Energy Increases Dividend

The business also recently declared 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 is a positive change from Xcel Energy’s previous quarterly dividend of $0.55. This represents a $2.19 dividend on an annualized basis and a dividend yield of 3.48%. The ex-dividend date is Friday, September 13th. Xcel Energy’s dividend payout ratio (DPR) is presently 65.77%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on XEL. UBS Group boosted their price objective on Xcel Energy from $66.00 to $67.00 and gave the company a “neutral” rating in a research note on Friday, September 20th. Morgan Stanley boosted their target price on Xcel Energy from $68.00 to $73.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 25th. KeyCorp boosted their target price on Xcel Energy from $66.00 to $69.00 and gave the company an “overweight” rating in a research report on Monday, September 30th. 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. Finally, Wells Fargo & Company boosted their target price on Xcel Energy from $57.00 to $63.00 and gave the company an “equal weight” rating in a research report on Friday, August 2nd. Eight research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Xcel Energy currently has a consensus rating of “Hold” and an average target price of $64.36.

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.