Xcel Energy Inc. (NASDAQ:XEL) Stake Reduced by Meeder Asset Management Inc.

Meeder Asset Management Inc. lowered its holdings in Xcel Energy Inc. (NASDAQ:XEL) by 90.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,163 shares of the company’s stock after selling 30,342 shares during the period. Meeder Asset Management Inc.’s holdings in Xcel Energy were worth $169,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in XEL. Heritage Wealth Advisors purchased a new position in shares of Xcel Energy in the fourth quarter worth approximately $25,000. Tidemark LLC acquired a new position in Xcel Energy during the fourth quarter valued at $29,000. Quarry LP purchased a new stake in Xcel Energy in the 4th quarter worth about $34,000. TruNorth Capital Management LLC acquired a new position in shares of Xcel Energy in the 2nd quarter valued at about $30,000. Finally, American National Bank purchased a new position in Xcel Energy during the second quarter valued at approximately $32,000. 78.38% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently issued reports on XEL shares. Argus upgraded Xcel Energy from a “hold” rating to a “buy” rating and set a $68.00 price objective for the company in a report on Monday, August 26th. Wells Fargo & Company boosted their price target on Xcel Energy from $57.00 to $63.00 and gave the company an “equal weight” rating in a research note on Friday, August 2nd. Finally, Morgan Stanley lifted their target price on shares of Xcel Energy from $62.00 to $68.00 and gave the company an “equal weight” rating in a research note on Friday, August 23rd. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, Xcel Energy presently has a consensus rating of “Moderate Buy” and a consensus target price of $62.92.

Xcel Energy Trading Up 0.8 %

Shares of NASDAQ XEL opened at $63.84 on Friday. The stock has a market cap of $35.59 billion, a price-to-earnings ratio of 19.17, a P/E/G ratio of 2.81 and a beta of 0.38. Xcel Energy Inc. has a twelve month low of $46.79 and a twelve month high of $64.43. The company has a quick ratio of 0.86, a current ratio of 0.97 and a debt-to-equity ratio of 1.54. The company’s fifty day moving average is $58.77 and its 200-day moving average is $55.49.

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

Xcel Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, October 20th. Stockholders of record on Friday, September 13th will be given a $0.548 dividend. This represents a $2.19 dividend on an annualized basis and a dividend yield of 3.43%. 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 65.77%.

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.