Assetmark Inc. Has $12.65 Million Position in Xcel Energy Inc. $XEL

Assetmark Inc. cut its position in shares of Xcel Energy Inc. (NASDAQ:XEL) by 5.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 159,223 shares of the company’s stock after selling 8,459 shares during the period. Assetmark Inc.’s holdings in Xcel Energy were worth $12,649,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Abound Wealth Management lifted its stake in Xcel Energy by 394.5% in the 4th quarter. Abound Wealth Management now owns 361 shares of the company’s stock valued at $27,000 after purchasing an additional 288 shares during the last quarter. Evolution Wealth Management Inc. increased its position in Xcel Energy by 365.3% during the first quarter. Evolution Wealth Management Inc. now owns 349 shares of the company’s stock worth $28,000 after buying an additional 274 shares during the last quarter. Garton & Associates Financial Advisors LLC acquired a new position in Xcel Energy during the fourth quarter worth approximately $30,000. Beacon Financial Strategies CORP bought a new stake in Xcel Energy in the fourth quarter valued at approximately $33,000. Finally, Pittenger & Anderson Inc. raised its stake in Xcel Energy by 73.8% in the fourth quarter. Pittenger & Anderson Inc. now owns 471 shares of the company’s stock valued at $35,000 after buying an additional 200 shares during the period. 78.38% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

XEL has been the subject of several research analyst reports. Mizuho reduced their target price on Xcel Energy from $94.00 to $91.00 and set an “outperform” rating for the company in a research note on Tuesday, June 23rd. Wall Street Zen cut Xcel Energy from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Barclays lifted their price objective on shares of Xcel Energy from $87.00 to $90.00 and gave the stock an “overweight” rating in a research report on Thursday, July 9th. Evercore reiterated an “outperform” rating and issued a $96.00 price objective on shares of Xcel Energy in a report on Monday, May 4th. Finally, BTIG Research reissued a “buy” rating and issued a $98.00 price objective on shares of Xcel Energy in a research report on Friday, June 26th. Two analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $92.76.

Xcel Energy Price Performance

Xcel Energy stock opened at $78.77 on Monday. Xcel Energy Inc. has a 12 month low of $69.16 and a 12 month high of $84.23. The stock’s 50 day moving average is $79.56 and its 200-day moving average is $79.09. The company has a current ratio of 0.77, a quick ratio of 0.68 and a debt-to-equity ratio of 1.45. The company has a market capitalization of $49.17 billion, a price-to-earnings ratio of 22.70, a PEG ratio of 2.05 and a beta of 0.39.

Xcel Energy (NASDAQ:XEL) last announced its earnings results on Wednesday, April 29th. The company reported $0.91 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.91. The company had revenue of $4.02 billion for the quarter, compared to analyst estimates of $4.21 billion. Xcel Energy had a return on equity of 10.37% and a net margin of 14.14%.The firm’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.84 earnings per share. Equities research analysts expect that Xcel Energy Inc. will post 4.11 EPS for the current year.

Xcel Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 20th. Shareholders of record on Monday, June 15th will be given a dividend of $0.5925 per share. The ex-dividend date is Monday, June 15th. This represents a $2.37 annualized dividend and a yield of 3.0%. Xcel Energy’s dividend payout ratio (DPR) is presently 68.30%.

Xcel Energy Profile

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.