Merit Financial Group LLC Boosts Stake in Xcel Energy Inc. (NASDAQ:XEL)

Merit Financial Group LLC lifted its holdings in Xcel Energy Inc. (NASDAQ:XEL) by 389.8% in the 4th quarter, Holdings Channel.com reports. The firm owned 17,108 shares of the company’s stock after purchasing an additional 13,615 shares during the quarter. Merit Financial Group LLC’s holdings in Xcel Energy were worth $1,155,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of XEL. Integris Wealth Management LLC grew its position in shares of Xcel Energy by 2.7% in the third quarter. Integris Wealth Management LLC now owns 6,163 shares of the company’s stock valued at $402,000 after purchasing an additional 163 shares during the period. Bond & Devick Financial Network Inc. boosted its holdings in Xcel Energy by 1.1% in the 3rd quarter. Bond & Devick Financial Network Inc. now owns 15,972 shares of the company’s stock worth $1,043,000 after buying an additional 168 shares during the last quarter. LRI Investments LLC increased its stake in Xcel Energy by 5.9% during the 3rd quarter. LRI Investments LLC now owns 3,037 shares of the company’s stock worth $209,000 after buying an additional 170 shares in the last quarter. Gateway Wealth Partners LLC raised its holdings in shares of Xcel Energy by 4.3% during the second quarter. Gateway Wealth Partners LLC now owns 4,413 shares of the company’s stock valued at $236,000 after acquiring an additional 182 shares during the last quarter. Finally, Sumitomo Life Insurance Co. lifted its position in shares of Xcel Energy by 2.9% in the third quarter. Sumitomo Life Insurance Co. now owns 6,591 shares of the company’s stock valued at $430,000 after acquiring an additional 183 shares in the last quarter. Institutional investors and hedge funds own 78.38% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on the company. JPMorgan Chase & Co. upgraded Xcel Energy from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $69.00 to $80.00 in a research report on Thursday, December 12th. Barclays increased their target price on shares of Xcel Energy from $67.00 to $71.00 and gave the company an “overweight” rating in a research report on Tuesday, November 26th. Jefferies Financial Group upgraded shares of Xcel Energy from a “hold” rating to a “buy” rating and boosted their price target for the stock from $71.00 to $76.00 in a research report on Friday, November 1st. Wells Fargo & Company raised shares of Xcel Energy from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $70.00 to $72.00 in a research note on Monday, January 13th. Finally, Morgan Stanley dropped their price target on Xcel Energy from $74.00 to $72.00 and set an “equal weight” rating for the company in a research report on Friday, November 22nd. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, Xcel Energy has an average rating of “Moderate Buy” and an average price target of $69.67.

Xcel Energy Trading Up 1.4 %

Shares of XEL stock opened at $67.68 on Wednesday. Xcel Energy Inc. has a 1-year low of $46.79 and a 1-year high of $73.38. The firm has a market cap of $38.86 billion, a PE ratio of 20.08, a price-to-earnings-growth ratio of 2.53 and a beta of 0.42. The company has a 50-day moving average of $68.37 and a two-hundred day moving average of $63.75. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.93 and a quick ratio of 0.82.

Xcel Energy (NASDAQ:XEL) last posted its earnings results 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). Xcel Energy had a net margin of 13.67% and a return on equity of 10.76%. The company had revenue of $3.64 billion during the quarter, compared to analyst estimates of $3.93 billion. During the same quarter last year, the business posted $1.23 EPS. The firm’s revenue for the quarter was down .5% on a year-over-year basis. On average, 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 issued a dividend of $0.5475 per share. This represents a $2.19 dividend on an annualized basis and a yield of 3.24%. The ex-dividend date is Monday, January 6th. Xcel Energy’s dividend payout ratio (DPR) is 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.