Procyon Advisors LLC Acquires 1,845 Shares of Xcel Energy Inc. (NASDAQ:XEL)

Procyon Advisors LLC boosted its holdings in shares of Xcel Energy Inc. (NASDAQ:XEL) by 6.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 28,617 shares of the company’s stock after buying an additional 1,845 shares during the quarter. Procyon Advisors LLC’s holdings in Xcel Energy were worth $1,932,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of XEL. State Street Corp raised its position in shares of Xcel Energy by 6.7% in the third quarter. State Street Corp now owns 37,143,025 shares of the company’s stock valued at $2,445,477,000 after purchasing an additional 2,323,448 shares during the period. Massachusetts Financial Services Co. MA grew its stake in Xcel Energy by 6.2% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 15,190,756 shares of the company’s stock valued at $991,956,000 after buying an additional 892,740 shares during the last quarter. Geode Capital Management LLC raised its holdings in Xcel Energy by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 14,562,103 shares of the company’s stock valued at $952,091,000 after acquiring an additional 262,191 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Xcel Energy by 2.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,417,615 shares of the company’s stock valued at $223,170,000 after acquiring an additional 67,820 shares during the period. Finally, Brookfield Corp ON lifted its position in Xcel Energy by 520.1% during the third quarter. Brookfield Corp ON now owns 2,509,031 shares of the company’s stock worth $163,840,000 after acquiring an additional 2,104,405 shares during the last quarter. Institutional investors own 78.38% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Wells Fargo & Company raised Xcel Energy from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $70.00 to $72.00 in a research report on Monday, January 13th. Jefferies Financial Group raised Xcel Energy from a “hold” rating to a “buy” rating and upped their price objective for the company from $71.00 to $76.00 in a report on Friday, November 1st. JPMorgan Chase & Co. raised Xcel Energy from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $69.00 to $80.00 in a report on Thursday, December 12th. Barclays upped their price target on shares of Xcel Energy from $67.00 to $71.00 and gave the company an “overweight” rating in a research note on Tuesday, November 26th. Finally, KeyCorp lifted their price objective on shares of Xcel Energy from $74.00 to $79.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $69.67.

Xcel Energy Stock Performance

NASDAQ XEL opened at $66.72 on Friday. The firm’s 50 day simple moving average is $68.42 and its 200 day simple moving average is $63.41. The firm has a market capitalization of $38.31 billion, a price-to-earnings ratio of 19.80, a P/E/G ratio of 2.40 and a beta of 0.42. 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 Inc. has a 1 year low of $46.79 and a 1 year high of $73.38.

Xcel Energy (NASDAQ:XEL) last issued its earnings results on Thursday, October 31st. The company reported $1.25 earnings per share 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 business had revenue of $3.64 billion during the quarter, compared to analyst estimates of $3.93 billion. During the same period in the prior year, the business posted $1.23 EPS. The company’s revenue for the quarter was down .5% compared to the same quarter last year. As a group, research analysts expect that Xcel Energy Inc. will post 3.54 earnings per share for the current fiscal year.

Xcel Energy Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 29th. Stockholders of record on Monday, January 6th will be issued a $0.5475 dividend. The ex-dividend date is Monday, January 6th. This represents a $2.19 dividend on an annualized basis and a dividend yield of 3.28%. Xcel Energy’s dividend payout ratio (DPR) is currently 64.99%.

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.