TriaGen Wealth Management LLC Cuts Stock Position in Xcel Energy Inc. $XEL

TriaGen Wealth Management LLC cut its stake in shares of Xcel Energy Inc. (NASDAQ:XEL) by 49.8% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 31,364 shares of the company’s stock after selling 31,115 shares during the period. TriaGen Wealth Management LLC’s holdings in Xcel Energy were worth $2,530,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. Daymark Wealth Partners LLC acquired a new position in shares of Xcel Energy during the 3rd quarter worth about $297,000. Endeavor Private Wealth Inc. increased its stake in Xcel Energy by 68.8% during the 3rd quarter. Endeavor Private Wealth Inc. now owns 7,229 shares of the company’s stock worth $583,000 after buying an additional 2,946 shares in the last quarter. Earned Wealth Advisors LLC raised its holdings in shares of Xcel Energy by 5.0% during the third quarter. Earned Wealth Advisors LLC now owns 5,738 shares of the company’s stock valued at $463,000 after acquiring an additional 271 shares during the last quarter. Asset Management One Co. Ltd. raised its holdings in shares of Xcel Energy by 0.8% during the third quarter. Asset Management One Co. Ltd. now owns 258,873 shares of the company’s stock valued at $20,878,000 after acquiring an additional 2,166 shares during the last quarter. Finally, Gateway Investment Advisers LLC raised its holdings in shares of Xcel Energy by 7.3% during the third quarter. Gateway Investment Advisers LLC now owns 7,205 shares of the company’s stock valued at $581,000 after acquiring an additional 491 shares during the last quarter. Institutional investors and hedge funds own 78.38% of the company’s stock.

Xcel Energy Trading Up 1.1%

Shares of XEL opened at $74.68 on Monday. Xcel Energy Inc. has a 12-month low of $62.58 and a 12-month high of $83.01. The firm has a market capitalization of $44.18 billion, a P/E ratio of 22.77, a P/E/G ratio of 2.04 and a beta of 0.46. The firm has a 50-day moving average price of $77.91 and a 200 day moving average price of $75.08. The company has a current ratio of 0.79, a quick ratio of 0.69 and a debt-to-equity ratio of 1.51.

Xcel Energy (NASDAQ:XEL) last issued its earnings results on Wednesday, October 29th. The company reported $1.24 EPS for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.08). Xcel Energy had a return on equity of 10.45% and a net margin of 13.46%.The firm had revenue of $3.92 billion for the quarter, compared to analysts’ expectations of $3.89 billion. During the same period last year, the firm earned $1.25 earnings per share. Xcel Energy’s revenue for the quarter was up 7.4% on a year-over-year basis. Sell-side analysts forecast that Xcel Energy Inc. will post 3.82 EPS for the current year.

Xcel Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 20th. Shareholders of record on Monday, December 29th will be paid a dividend of $0.57 per share. The ex-dividend date of this dividend is Monday, December 29th. This represents a $2.28 annualized dividend and a yield of 3.1%. Xcel Energy’s dividend payout ratio (DPR) is 69.51%.

Wall Street Analyst Weigh In

Several brokerages recently commented on XEL. Citigroup boosted their price target on Xcel Energy from $80.00 to $92.00 and gave the stock a “buy” rating in a research report on Monday, November 3rd. Bank of America increased their target price on shares of Xcel Energy from $78.00 to $84.00 and gave the company a “buy” rating in a research report on Thursday, September 25th. Jefferies Financial Group boosted their price target on shares of Xcel Energy from $84.00 to $92.00 and gave the stock a “buy” rating in a research report on Thursday, October 16th. JPMorgan Chase & Co. dropped their price objective on shares of Xcel Energy from $90.00 to $87.00 and set an “overweight” rating for the company in a research note on Thursday, December 11th. Finally, Argus upgraded shares of Xcel Energy to a “strong-buy” rating in a report on Wednesday, December 3rd. Three analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $87.29.

About Xcel Energy

Xcel Energy (NASDAQ: XEL) is a Minneapolis-based, publicly traded utility holding company that develops, owns and operates regulated electricity and natural gas delivery systems. The company’s core activities include generation, transmission and distribution of electricity, the delivery of natural gas to customers, and related customer service operations. Xcel provides a mix of utility services to residential, commercial and industrial customers and participates in wholesale energy markets where appropriate.

Its generation portfolio combines nuclear, natural gas, coal and a growing share of renewable resources such as wind and solar.