Lazard Asset Management LLC Has $27.97 Million Stake in Xcel Energy Inc. (NASDAQ:XEL)

Lazard Asset Management LLC raised its holdings in shares of Xcel Energy Inc. (NASDAQ:XEL) by 10.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 520,452 shares of the company’s stock after purchasing an additional 50,128 shares during the quarter. Lazard Asset Management LLC’s holdings in Xcel Energy were worth $27,973,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Geneos Wealth Management Inc. grew its holdings in Xcel Energy by 0.9% during the fourth quarter. Geneos Wealth Management Inc. now owns 20,580 shares of the company’s stock worth $1,274,000 after buying an additional 182 shares in the last quarter. Xponance Inc. grew its stake in shares of Xcel Energy by 0.3% in the 4th quarter. Xponance Inc. now owns 70,411 shares of the company’s stock worth $4,359,000 after acquiring an additional 198 shares in the last quarter. Epiq Partners LLC raised its holdings in shares of Xcel Energy by 0.7% in the first quarter. Epiq Partners LLC now owns 29,072 shares of the company’s stock valued at $1,563,000 after purchasing an additional 202 shares during the last quarter. Venture Visionary Partners LLC raised its holdings in shares of Xcel Energy by 4.0% in the fourth quarter. Venture Visionary Partners LLC now owns 5,460 shares of the company’s stock valued at $338,000 after purchasing an additional 210 shares during the last quarter. Finally, Avantax Advisory Services Inc. lifted its position in shares of Xcel Energy by 1.3% during the first quarter. Avantax Advisory Services Inc. now owns 16,054 shares of the company’s stock valued at $863,000 after purchasing an additional 212 shares in the last quarter. Institutional investors and hedge funds own 78.38% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on XEL. StockNews.com raised shares of Xcel Energy from a “sell” rating to a “hold” rating in a research report on Thursday, May 2nd. Morgan Stanley dropped their price target on Xcel Energy from $65.00 to $62.00 and set an “equal weight” rating on the stock in a report on Monday, June 24th. KeyCorp reduced their price objective on Xcel Energy from $68.00 to $65.00 and set an “overweight” rating for the company in a research note on Friday, April 19th. Bank of America lifted their target price on Xcel Energy from $63.00 to $66.00 and gave the stock a “buy” rating in a research note on Monday, April 29th. Finally, Barclays increased their price target on shares of Xcel Energy from $56.00 to $57.00 and gave the company an “overweight” rating in a research report on Tuesday, April 30th. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $62.00.

Xcel Energy Trading Up 0.9 %

NASDAQ:XEL opened at $57.36 on Monday. Xcel Energy Inc. has a 12 month low of $46.79 and a 12 month high of $64.77. The company has a current ratio of 0.86, a quick ratio of 0.74 and a debt-to-equity ratio of 1.48. The company has a 50-day moving average price of $54.32 and a 200-day moving average price of $55.16. The stock has a market cap of $31.87 billion, a price-to-earnings ratio of 17.23, a P/E/G ratio of 2.52 and a beta of 0.37.

Xcel Energy (NASDAQ:XEL) last released its earnings results on Thursday, April 25th. The company reported $0.88 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $0.08. The company had revenue of $3.65 billion during the quarter, compared to analysts’ expectations of $4.12 billion. Xcel Energy had a return on equity of 11.03% and a net margin of 13.36%. The firm’s revenue for the quarter was down 10.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.76 EPS. Equities analysts predict that Xcel Energy Inc. will post 3.55 EPS for the current year.

Xcel Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Saturday, July 20th. Stockholders of record on Friday, June 14th were issued a dividend of $0.5475 per share. This represents a $2.19 dividend on an annualized basis and a dividend yield of 3.82%. The ex-dividend date of this dividend was Friday, June 14th. Xcel Energy’s dividend payout ratio (DPR) is presently 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.