Choreo LLC Buys 17,512 Shares of Xcel Energy Inc. (NASDAQ:XEL)

Choreo LLC grew its stake in Xcel Energy Inc. (NASDAQ:XEL) by 347.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,559 shares of the company’s stock after acquiring an additional 17,512 shares during the period. Choreo LLC’s holdings in Xcel Energy were worth $1,184,000 at the end of the most recent reporting period.

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

Xcel Energy Stock Up 0.1 %

Shares of XEL stock opened at $63.89 on Friday. The stock’s fifty day moving average price is $58.55 and its 200 day moving average price is $55.45. The company has a debt-to-equity ratio of 1.54, a current ratio of 0.97 and a quick ratio of 0.86. Xcel Energy Inc. has a 1-year low of $46.79 and a 1-year high of $64.43. The company has a market cap of $35.50 billion, a price-to-earnings ratio of 19.19, a price-to-earnings-growth ratio of 2.77 and a beta of 0.38.

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

Xcel Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, October 20th. Stockholders of record on Friday, September 13th will be paid a dividend of $0.548 per share. This is an increase from Xcel Energy’s previous quarterly dividend of $0.55. This represents a $2.19 annualized dividend and a dividend yield of 3.43%. The ex-dividend date is Friday, September 13th. Xcel Energy’s payout ratio is presently 65.77%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Wells Fargo & Company raised their target price 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. Morgan Stanley boosted their price objective on shares of Xcel Energy from $62.00 to $68.00 and gave the stock an “equal weight” rating in a research note on Friday, August 23rd. Finally, Argus upgraded Xcel Energy from a “hold” rating to a “buy” rating and set a $68.00 target price for the company in a report on Monday, August 26th. Six equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $62.92.

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.