Allworth Financial LP Sells 41,296 Shares of Xcel Energy Inc. (NASDAQ:XEL)

Allworth Financial LP reduced its position in shares of Xcel Energy Inc. (NASDAQ:XEL) by 14.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 247,560 shares of the company’s stock after selling 41,296 shares during the period. Allworth Financial LP’s holdings in Xcel Energy were worth $16,582,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in XEL. Dakota Wealth Management lifted its stake in shares of Xcel Energy by 0.7% in the fourth quarter. Dakota Wealth Management now owns 23,130 shares of the company’s stock worth $1,562,000 after acquiring an additional 151 shares during the period. Integris Wealth Management LLC lifted its stake in shares of Xcel Energy by 2.6% in the fourth quarter. Integris Wealth Management LLC now owns 6,323 shares of the company’s stock worth $427,000 after acquiring an additional 160 shares during the period. Bond & Devick Financial Network Inc. lifted its stake in shares of Xcel Energy by 1.1% in the third quarter. Bond & Devick Financial Network Inc. now owns 15,972 shares of the company’s stock worth $1,043,000 after acquiring an additional 168 shares during the period. LRI Investments LLC lifted its stake in shares of Xcel Energy by 5.9% in the third quarter. LRI Investments LLC now owns 3,037 shares of the company’s stock worth $209,000 after acquiring an additional 170 shares during the period. Finally, Brooklyn Investment Group lifted its stake in shares of Xcel Energy by 10.2% in the fourth quarter. Brooklyn Investment Group now owns 1,920 shares of the company’s stock worth $130,000 after acquiring an additional 178 shares during the period. 78.38% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on XEL shares. Barclays cut their price objective on Xcel Energy from $71.00 to $69.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 22nd. Wells Fargo & Company boosted their price target on Xcel Energy from $72.00 to $75.00 and gave the company an “overweight” rating in a research note on Friday, February 7th. Morgan Stanley dropped their price target on Xcel Energy from $74.00 to $72.00 and set an “equal weight” rating on the stock in a research note on Friday, November 22nd. KeyCorp boosted their price target on Xcel Energy from $74.00 to $79.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Finally, JPMorgan Chase & Co. raised Xcel Energy from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $69.00 to $80.00 in a research note on Thursday, December 12th. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $69.91.

Xcel Energy Trading Up 0.3 %

Shares of Xcel Energy stock opened at $68.61 on Friday. The stock has a fifty day simple moving average of $67.05 and a 200 day simple moving average of $65.27. Xcel Energy Inc. has a 12-month low of $46.79 and a 12-month high of $73.38. The company has a market capitalization of $39.40 billion, a P/E ratio of 19.94, a price-to-earnings-growth ratio of 2.54 and a beta of 0.43. The company has a current ratio of 0.93, a quick ratio of 0.82 and a debt-to-equity ratio of 1.42.

Xcel Energy (NASDAQ:XEL) last announced its quarterly earnings results on Thursday, February 6th. The company reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.06). Xcel Energy had a return on equity of 10.65% and a net margin of 14.40%. On average, sell-side analysts anticipate that Xcel Energy Inc. will post 3.82 earnings per share for the current fiscal year.

Xcel Energy Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 29th. Investors of record on Monday, January 6th were issued a dividend of $0.5475 per share. The ex-dividend date of this dividend was Monday, January 6th. This represents a $2.19 annualized dividend and a yield of 3.19%. Xcel Energy’s dividend payout ratio (DPR) is currently 63.66%.

About Xcel Energy

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.