Western Wealth Management LLC Sells 296 Shares of Xcel Energy Inc. (NASDAQ:XEL)

Western Wealth Management LLC lessened its holdings in Xcel Energy Inc. (NASDAQ:XEL) by 1.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,883 shares of the company’s stock after selling 296 shares during the quarter. Western Wealth Management LLC’s holdings in Xcel Energy were worth $902,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Massachusetts Financial Services Co. MA raised its position in Xcel Energy by 7.9% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 19,994,298 shares of the company’s stock worth $1,237,847,000 after acquiring an additional 1,472,435 shares in the last quarter. Victory Capital Management Inc. raised its position in Xcel Energy by 3.5% during the fourth quarter. Victory Capital Management Inc. now owns 7,766,048 shares of the company’s stock worth $480,796,000 after acquiring an additional 261,426 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in Xcel Energy by 770.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 7,552,625 shares of the company’s stock worth $405,955,000 after acquiring an additional 6,684,499 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its position in Xcel Energy by 1.8% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 4,186,101 shares of the company’s stock worth $223,264,000 after acquiring an additional 74,690 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Xcel Energy by 3.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,171,463 shares of the company’s stock worth $196,345,000 after acquiring an additional 106,218 shares in the last quarter. Institutional investors own 78.38% of the company’s stock.

Analysts Set New Price Targets

XEL has been the topic of several research analyst reports. Bank of America increased their price objective on shares of Xcel Energy from $63.00 to $66.00 and gave the company a “buy” rating in a research report on Monday, April 29th. Evercore ISI increased their price objective on shares of Xcel Energy from $54.00 to $59.00 and gave the company an “outperform” rating in a research report on Friday, April 26th. Barclays increased their price objective on shares of Xcel Energy from $56.00 to $57.00 and gave the company an “overweight” rating in a research report on Tuesday, April 30th. Wells Fargo & Company increased their price objective on shares of Xcel Energy from $57.00 to $63.00 and gave the company an “equal weight” rating in a research report on Friday, August 2nd. Finally, StockNews.com raised shares of Xcel Energy from a “sell” rating to a “hold” rating in a research report on Thursday, May 2nd. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $61.91.

Xcel Energy Stock Performance

Shares of XEL stock traded up $0.38 on Monday, hitting $60.36. The company’s stock had a trading volume of 362,913 shares, compared to its average volume of 4,389,048. The company has a market capitalization of $33.54 billion, a PE ratio of 18.01, a PEG ratio of 2.60 and a beta of 0.37. The company has a debt-to-equity ratio of 1.48, a quick ratio of 0.74 and a current ratio of 0.86. Xcel Energy Inc. has a fifty-two week low of $46.79 and a fifty-two week high of $64.25. The stock’s 50 day moving average is $55.45 and its 200-day moving average is $55.03.

Xcel Energy (NASDAQ:XEL) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 11.00% and a net margin of 13.46%. The company’s quarterly revenue was up .2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.52 earnings per share. Equities research analysts expect that Xcel Energy Inc. will post 3.55 earnings per share for the current fiscal year.

Xcel Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, October 20th. Shareholders of record on Friday, September 13th will be paid a dividend of $0.548 per share. This represents a $2.19 dividend on an annualized basis and a yield of 3.63%. This is an increase from Xcel Energy’s previous quarterly dividend of $0.55. The ex-dividend date is Friday, September 13th. Xcel Energy’s dividend payout ratio is presently 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.