Marcum Wealth LLC Makes New Investment in Xcel Energy Inc. (NASDAQ:XEL)

Marcum Wealth LLC bought a new position in shares of Xcel Energy Inc. (NASDAQ:XEL) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm bought 3,386 shares of the company’s stock, valued at approximately $221,000.

Other hedge funds have also recently bought and sold shares of the company. ProShare Advisors LLC lifted its position in shares of Xcel Energy by 23.2% in the first quarter. ProShare Advisors LLC now owns 643,986 shares of the company’s stock worth $34,614,000 after purchasing an additional 121,118 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its position in shares of Xcel Energy by 2.4% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,625,530 shares of the company’s stock worth $87,372,000 after purchasing an additional 38,653 shares in the last quarter. Daiwa Securities Group Inc. lifted its position 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 worth $5,427,000 after purchasing an additional 20,068 shares in the last quarter. Forsta AP Fonden lifted its position in shares of Xcel Energy by 91.6% in the first quarter. Forsta AP Fonden now owns 190,600 shares of the company’s stock worth $10,245,000 after purchasing an additional 91,100 shares in the last quarter. Finally, Royal London Asset Management Ltd. lifted its position in shares of Xcel Energy by 3,424.0% in the fourth quarter. Royal London Asset Management Ltd. now owns 16,598 shares of the company’s stock worth $1,028,000 after purchasing an additional 16,127 shares in the last quarter. 78.38% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on XEL shares. Morgan Stanley boosted their target price on shares of Xcel Energy from $68.00 to $73.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 25th. UBS Group upped their price objective on shares of Xcel Energy from $66.00 to $67.00 and gave the company a “neutral” rating in a report on Friday, September 20th. KeyCorp upped their price objective on shares of Xcel Energy from $66.00 to $69.00 and gave the company an “overweight” rating in a report on Monday, September 30th. Wells Fargo & Company upped their price objective 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. Finally, Jefferies Financial Group began coverage on shares of Xcel Energy in a report on Thursday, September 19th. They issued a “hold” rating and a $70.00 price objective on the stock. Eight 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 a consensus target price of $64.36.

Xcel Energy Trading Up 0.2 %

XEL opened at $62.31 on Friday. Xcel Energy Inc. has a twelve month low of $46.79 and a twelve month high of $65.64. The company has a 50-day simple moving average of $62.06 and a 200 day simple moving average of $57.14. The company has a quick ratio of 0.86, a current ratio of 0.97 and a debt-to-equity ratio of 1.54. The stock has a market capitalization of $34.62 billion, a price-to-earnings ratio of 18.71, a P/E/G ratio of 2.75 and a beta of 0.39.

Xcel Energy (NASDAQ:XEL) last posted 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). The firm had revenue of $3.03 billion for the quarter, compared to the consensus estimate of $3.29 billion. Xcel Energy had a return on equity of 10.94% and a net margin of 13.46%. The company’s revenue for the quarter was up .2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.52 EPS. Analysts predict 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. The ex-dividend date of this dividend is Friday, September 13th. This represents a $2.19 dividend on an annualized basis and a dividend yield of 3.52%. This is a boost from Xcel Energy’s previous quarterly dividend of $0.55. Xcel Energy’s dividend payout ratio is 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.