City State Bank Grows Stake in Xcel Energy Inc. (NASDAQ:XEL)

City State Bank increased its stake in Xcel Energy Inc. (NASDAQ:XEL) by 34.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,766 shares of the company’s stock after acquiring an additional 450 shares during the period. City State Bank’s holdings in Xcel Energy were worth $115,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in XEL. Quarry LP bought a new stake in Xcel Energy in the fourth quarter worth about $34,000. TruNorth Capital Management LLC bought a new stake in Xcel Energy in the second quarter worth about $30,000. American National Bank bought a new stake in Xcel Energy in the second quarter worth about $32,000. Kimelman & Baird LLC bought a new stake in shares of Xcel Energy during the second quarter valued at approximately $35,000. Finally, West Financial Advisors LLC bought a new stake in shares of Xcel Energy during the third quarter valued at approximately $43,000. Hedge funds and other institutional investors own 78.38% of the company’s stock.

Xcel Energy Price Performance

Shares of XEL stock opened at $62.31 on Monday. Xcel Energy Inc. has a 1-year low of $46.79 and a 1-year high of $65.64. The stock’s 50-day moving average is $62.06 and its 200 day moving average is $57.21. The company has a market cap of $34.62 billion, a P/E ratio of 18.71, a PEG ratio of 2.75 and a beta of 0.39. The company has a debt-to-equity ratio of 1.54, a current ratio of 0.97 and a quick ratio of 0.86.

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

Xcel Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, October 20th. Shareholders of record on Friday, September 13th will be issued a $0.548 dividend. This represents a $2.19 annualized dividend and a yield of 3.52%. The ex-dividend date is Friday, September 13th. This is an increase from Xcel Energy’s previous quarterly dividend of $0.55. Xcel Energy’s dividend payout ratio (DPR) is currently 65.77%.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Wells Fargo & Company lifted their price target on shares of Xcel Energy from $57.00 to $63.00 and gave the company an “equal weight” rating in a research note on Friday, August 2nd. KeyCorp lifted their price target on shares of Xcel Energy from $66.00 to $69.00 and gave the company an “overweight” rating in a research note on Monday, September 30th. UBS Group lifted their price target on shares of Xcel Energy from $66.00 to $67.00 and gave the company a “neutral” rating in a research note on Friday, September 20th. Argus raised shares of Xcel Energy from a “hold” rating to a “buy” rating and set a $68.00 price target for the company in a research note on Monday, August 26th. Finally, Jefferies Financial Group assumed coverage on shares of Xcel Energy in a research note on Thursday, September 19th. They set a “hold” rating and a $70.00 price target for the company. Eight investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Xcel Energy has an average rating of “Hold” and a consensus 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.