Royal Fund Management LLC Has $2.70 Million Holdings in Xcel Energy Inc. (NASDAQ:XEL)

Royal Fund Management LLC boosted its holdings in Xcel Energy Inc. (NASDAQ:XEL) by 8.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 39,944 shares of the company’s stock after acquiring an additional 3,108 shares during the quarter. Royal Fund Management LLC’s holdings in Xcel Energy were worth $2,697,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. State Street Corp boosted its holdings in Xcel Energy by 6.7% during the third quarter. State Street Corp now owns 37,143,025 shares of the company’s stock worth $2,445,477,000 after purchasing an additional 2,323,448 shares during the last quarter. Brookfield Corp ON grew its stake in shares of Xcel Energy by 520.1% during the 3rd 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 period. Merewether Investment Management LP purchased a new position in shares of Xcel Energy in the third quarter worth about $64,301,000. Massachusetts Financial Services Co. MA raised its holdings in Xcel Energy by 6.2% during 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 acquiring an additional 892,740 shares during the period. Finally, Janus Henderson Group PLC lifted its holdings in Xcel Energy by 1,265.6% during the 3rd quarter. Janus Henderson Group PLC now owns 839,146 shares of the company’s stock worth $54,797,000 after purchasing an additional 777,696 shares in the last quarter. Institutional investors and hedge funds own 78.38% of the company’s stock.

Wall Street Analyst Weigh In

XEL has been the subject of a number of research analyst reports. KeyCorp lifted their price target on Xcel Energy from $74.00 to $79.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Wells Fargo & Company upgraded shares of Xcel Energy from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $70.00 to $72.00 in a research report on Monday, January 13th. JPMorgan Chase & Co. upgraded Xcel Energy from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $69.00 to $80.00 in a report on Thursday, December 12th. Morgan Stanley reduced their price target on Xcel Energy from $74.00 to $72.00 and set an “equal weight” rating on the stock in a research report on Friday, November 22nd. Finally, Barclays increased their price objective on Xcel Energy from $67.00 to $71.00 and gave the company an “overweight” rating in a research note on Tuesday, November 26th. Four 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 stock currently has an average rating of “Moderate Buy” and an average price target of $69.67.

Xcel Energy Stock Performance

XEL opened at $66.72 on Tuesday. 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 market capitalization of $38.31 billion, a price-to-earnings ratio of 19.80, a PEG ratio of 2.53 and a beta of 0.42. The company has a fifty day moving average of $68.41 and a 200 day moving average of $63.66. Xcel Energy Inc. has a fifty-two week low of $46.79 and a fifty-two week high of $73.38.

Xcel Energy (NASDAQ:XEL) last posted its earnings results on Thursday, October 31st. The company reported $1.25 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 firm had revenue of $3.64 billion for the quarter, compared to the consensus estimate of $3.93 billion. During the same quarter in the prior year, the company posted $1.23 earnings per share. The firm’s revenue was down .5% compared to the same quarter last year. As a group, sell-side analysts forecast that Xcel Energy Inc. will post 3.54 earnings per share for the current fiscal year.

Xcel Energy Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 29th. Investors of record on Monday, January 6th will be issued a dividend of $0.5475 per share. The ex-dividend date is Monday, January 6th. This represents a $2.19 annualized dividend and a yield of 3.28%. Xcel Energy’s payout ratio is presently 64.99%.

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.