Wedge Capital Management L L P NC Cuts Stock Position in Xcel Energy Inc. (NASDAQ:XEL)

Wedge Capital Management L L P NC lessened its holdings in Xcel Energy Inc. (NASDAQ:XEL) by 16.4% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 182,919 shares of the company’s stock after selling 35,797 shares during the period. Wedge Capital Management L L P NC’s holdings in Xcel Energy were worth $12,351,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Ashton Thomas Securities LLC acquired a new position in Xcel Energy during the 3rd quarter worth approximately $25,000. Transcendent Capital Group LLC purchased a new stake in shares of Xcel Energy during the 3rd quarter worth $33,000. Kimelman & Baird LLC acquired a new position in shares of Xcel Energy during the second quarter worth $35,000. West Financial Advisors LLC purchased a new position in Xcel Energy in the third quarter valued at $43,000. Finally, First Financial Corp IN acquired a new stake in Xcel Energy in the fourth quarter valued at $46,000. Institutional investors and hedge funds own 78.38% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Jefferies Financial Group upgraded shares of 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 research note on Friday, November 1st. Barclays increased their price target on shares of Xcel Energy from $67.00 to $71.00 and gave the stock an “overweight” rating in a report on Tuesday, November 26th. UBS Group raised their target price on Xcel Energy from $66.00 to $67.00 and gave the company a “neutral” rating in a report on Friday, September 20th. Morgan Stanley lowered their price target on shares of 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. Finally, Wells Fargo & Company raised shares of Xcel Energy from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $70.00 to $72.00 in a report on Monday, January 13th. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $69.67.

Xcel Energy Stock Performance

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

Xcel Energy (NASDAQ:XEL) last announced its quarterly earnings data on Thursday, October 31st. The company reported $1.25 earnings per share for the quarter, missing the consensus estimate of $1.26 by ($0.01). The company had revenue of $3.64 billion for the quarter, compared to analysts’ expectations of $3.93 billion. Xcel Energy had a return on equity of 10.76% and a net margin of 13.67%. The company’s revenue was down .5% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.23 earnings per share. On average, sell-side analysts predict that Xcel Energy Inc. will post 3.54 EPS for the current year.

Xcel Energy Cuts Dividend

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

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.