Kimelman & Baird LLC Takes $35,000 Position in Xcel Energy Inc. (NASDAQ:XEL)

Kimelman & Baird LLC purchased a new position in shares of Xcel Energy Inc. (NASDAQ:XEL) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 652 shares of the company’s stock, valued at approximately $35,000.

A number of other institutional investors and hedge funds have also modified their holdings of XEL. Gateway Wealth Partners LLC grew its stake 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 worth $236,000 after purchasing an additional 182 shares during the period. Quarry LP bought a new position in Xcel Energy during the second quarter worth about $127,000. Sunbelt Securities Inc. grew its position in shares of Xcel Energy by 106.3% during the 2nd quarter. Sunbelt Securities Inc. now owns 2,475 shares of the company’s stock worth $132,000 after buying an additional 1,275 shares during the period. Northwestern Mutual Wealth Management Co. increased its stake in shares of Xcel Energy by 3.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 26,522 shares of the company’s stock valued at $1,417,000 after acquiring an additional 842 shares during the last quarter. Finally, Creative Planning raised its position in shares of Xcel Energy by 116.1% in the 2nd quarter. Creative Planning now owns 282,619 shares of the company’s stock valued at $15,095,000 after acquiring an additional 151,843 shares during the period. 78.38% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on XEL. UBS Group upped their target price on shares of Xcel Energy from $66.00 to $67.00 and gave the company a “neutral” rating in a research note on Friday, September 20th. Argus upgraded shares of Xcel Energy from a “hold” rating to a “buy” rating and set a $68.00 price objective for the company in a research report on Monday, August 26th. KeyCorp lifted their target price on Xcel Energy from $66.00 to $69.00 and gave the stock an “overweight” rating in a report on Monday. Jefferies Financial Group began coverage on Xcel Energy in a report on Thursday, September 19th. They issued a “hold” rating and a $70.00 price target for the company. Finally, Wells Fargo & Company lifted their price objective on Xcel Energy from $57.00 to $63.00 and gave the company an “equal weight” rating in a report on Friday, August 2nd. Eight investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $64.36.

Xcel Energy Stock Up 0.0 %

XEL stock opened at $65.32 on Wednesday. Xcel Energy Inc. has a twelve month low of $46.79 and a twelve month high of $65.64. The company has a market cap of $36.29 billion, a price-to-earnings ratio of 19.62, a P/E/G ratio of 2.82 and a beta of 0.38. The company has a quick ratio of 0.86, a current ratio of 0.97 and a debt-to-equity ratio of 1.54. The business has a 50 day moving average price of $61.22 and a two-hundred day moving average price of $56.59.

Xcel Energy (NASDAQ:XEL) last released its earnings results on Thursday, August 1st. The company reported $0.54 earnings per share for the quarter, missing the consensus estimate of $0.57 by ($0.03). Xcel Energy had a net margin of 13.46% and a return on equity of 10.94%. The firm had revenue of $3.03 billion during the quarter, compared to the consensus estimate of $3.29 billion. During the same period in the prior year, the business posted $0.52 earnings per share. Xcel Energy’s quarterly revenue was up .2% compared to the same quarter last year. Analysts anticipate that Xcel Energy Inc. will post 3.55 EPS for the current fiscal year.

Xcel Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, October 20th. Stockholders of record on Friday, September 13th will be issued a $0.548 dividend. This represents a $2.19 dividend on an annualized basis and a dividend yield of 3.36%. This is a boost from Xcel Energy’s previous quarterly dividend of $0.55. The ex-dividend date is Friday, September 13th. Xcel Energy’s dividend payout ratio is presently 65.77%.

Xcel Energy Company 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.