Palisade Asset Management LLC Sells 1,300 Shares of Xcel Energy Inc. (NASDAQ:XEL)

Palisade Asset Management LLC reduced its stake in Xcel Energy Inc. (NASDAQ:XEL) by 1.5% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 87,246 shares of the company’s stock after selling 1,300 shares during the quarter. Palisade Asset Management LLC’s holdings in Xcel Energy were worth $5,697,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in XEL. Pitcairn Co. bought a new stake in Xcel Energy during the 1st quarter valued at about $224,000. EP Wealth Advisors LLC grew its holdings in shares of Xcel Energy by 10.9% during the first quarter. EP Wealth Advisors LLC now owns 12,477 shares of the company’s stock valued at $671,000 after buying an additional 1,224 shares during the last quarter. LRI Investments LLC bought a new stake in shares of Xcel Energy during the first quarter valued at approximately $145,000. Lazard Asset Management LLC raised its holdings in Xcel Energy by 10.7% in the 1st quarter. Lazard Asset Management LLC now owns 520,452 shares of the company’s stock worth $27,973,000 after acquiring an additional 50,128 shares during the last quarter. Finally, BOKF NA lifted its position in Xcel Energy by 18.2% in the 1st quarter. BOKF NA now owns 24,678 shares of the company’s stock valued at $1,315,000 after acquiring an additional 3,806 shares in the last quarter. Hedge funds and other institutional investors own 78.38% of the company’s stock.

Xcel Energy Stock Performance

NASDAQ:XEL opened at $71.35 on Friday. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.82 and a current ratio of 0.93. The stock has a 50-day simple moving average of $65.42 and a two-hundred day simple moving average of $59.75. The firm has a market capitalization of $40.97 billion, a PE ratio of 21.17, a P/E/G ratio of 2.92 and a beta of 0.38. Xcel Energy Inc. has a 52-week low of $46.79 and a 52-week high of $71.79.

Xcel Energy (NASDAQ:XEL) last announced its quarterly earnings data on Thursday, October 31st. The company reported $1.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.01). Xcel Energy had a net margin of 13.67% and a return on equity of 10.76%. The company had revenue of $3.64 billion for the quarter, compared to the consensus estimate of $3.93 billion. During the same quarter last year, the firm posted $1.23 earnings per share. The company’s revenue was down .5% compared to the same quarter last year. Analysts forecast that Xcel Energy Inc. will post 3.55 EPS for the current year.

Analyst Upgrades and Downgrades

XEL has been the subject of a number of research analyst reports. KeyCorp lifted their target price on Xcel Energy from $69.00 to $74.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Jefferies Financial Group upgraded Xcel Energy from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $71.00 to $76.00 in a report on Friday, November 1st. Argus raised shares of Xcel Energy from a “hold” rating to a “buy” rating and set a $68.00 price target on the stock in a report on Monday, August 26th. Morgan Stanley decreased their price objective on shares of Xcel Energy from $74.00 to $72.00 and set an “equal weight” rating for the company in a report on Friday. Finally, Barclays raised their target price on shares of Xcel Energy from $57.00 to $67.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $66.31.

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.