Cadence Capital Management LLC Sells 2,339 Shares of Xcel Energy Inc. (XEL)
Cadence Capital Management LLC decreased its position in Xcel Energy Inc. (NYSE:XEL) by 9.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,417 shares of the utilities provider’s stock after selling 2,339 shares during the period. Cadence Capital Management LLC’s holdings in Xcel Energy were worth $1,074,000 as of its most recent filing with the SEC.
Other institutional investors have also recently added to or reduced their stakes in the company. Carroll Financial Associates Inc. increased its position in Xcel Energy by 14.5% in the second quarter. Carroll Financial Associates Inc. now owns 2,365 shares of the utilities provider’s stock worth $108,000 after buying an additional 300 shares during the period. Founders Capital Management purchased a new position in Xcel Energy during the first quarter worth $124,000. Sharkey Howes & Javer increased its position in Xcel Energy by 0.5% in the first quarter. Sharkey Howes & Javer now owns 2,994 shares of the utilities provider’s stock worth $133,000 after buying an additional 16 shares during the period. Dupont Capital Management Corp purchased a new position in Xcel Energy during the second quarter worth $135,000. Finally, Independent Portfolio Consultants Inc. increased its position in Xcel Energy by 89.9% in the second quarter. Independent Portfolio Consultants Inc. now owns 3,134 shares of the utilities provider’s stock worth $144,000 after buying an additional 1,484 shares during the period. 72.60% of the stock is owned by hedge funds and other institutional investors.
Shares of Xcel Energy Inc. (XEL) opened at 49.37 on Friday. The firm has a market cap of $25.07 billion, a P/E ratio of 21.80 and a beta of 0.19. The stock has a 50 day moving average price of $47.62 and a 200 day moving average price of $45.69. Xcel Energy Inc. has a 12-month low of $38.00 and a 12-month high of $49.60.
Xcel Energy (NYSE:XEL) last released its quarterly earnings results on Thursday, July 27th. The utilities provider reported $0.45 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.43 by $0.02. The firm had revenue of $2.64 billion for the quarter, compared to the consensus estimate of $2.63 billion. Xcel Energy had a return on equity of 10.42% and a net margin of 10.08%. The company’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same period last year, the business posted $0.39 EPS. On average, equities analysts expect that Xcel Energy Inc. will post $2.20 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 20th. Stockholders of record on Friday, September 15th will be paid a $0.36 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.92%. Xcel Energy’s dividend payout ratio (DPR) is currently 63.44%.
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A number of research firms have weighed in on XEL. Zacks Investment Research downgraded Xcel Energy from a “buy” rating to a “hold” rating in a research report on Thursday, June 15th. BidaskClub downgraded Xcel Energy from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 24th. Argus upped their price target on Xcel Energy from $50.00 to $53.00 and gave the stock a “buy” rating in a research report on Wednesday, June 14th. BMO Capital Markets upped their price target on Xcel Energy from $46.00 to $47.00 and gave the stock a “market perform” rating in a research report on Friday, July 28th. Finally, Morgan Stanley upped their price target on Xcel Energy from $45.00 to $46.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 10th. Ten analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. Xcel Energy presently has a consensus rating of “Hold” and an average target price of $46.67.
In other news, EVP Kent T. Larson sold 10,000 shares of the firm’s stock in a transaction on Friday, July 28th. The stock was sold at an average price of $47.25, for a total value of $472,500.00. Following the transaction, the executive vice president now directly owns 80,221 shares in the company, valued at approximately $3,790,442.25. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.22% of the company’s stock.
Xcel Energy Company Profile
Xcel Energy Inc is a public utility holding company. The Company’s operations include the activity of four utility subsidiaries that serve electric and natural gas customers in eight states. The Company’s segments include regulated electric utility, regulated natural gas utility and all other. The Company’s utility subsidiaries include NSP-Minnesota, NSP-Wisconsin, Public Service Company of Colorado (PSCo) and Southwestern Public Service Co (SPS), which serve customers in portions of Colorado, Michigan, Minnesota, New Mexico, North Dakota, South Dakota, Texas and Wisconsin.
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