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

Assetmark Inc. lowered its position in Xcel Energy Inc. (NASDAQ:XEL) by 5.0% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor 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 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Abound Wealth Management raised its position in shares of Xcel Energy by 394.5% during the fourth quarter. Abound Wealth Management now owns 361 shares of the company’s stock worth $27,000 after purchasing an additional 288 shares during the period. Evolution Wealth Management Inc. lifted its holdings in shares of Xcel Energy by 365.3% during the 1st quarter. Evolution Wealth Management Inc. now owns 349 shares of the company’s stock valued at $28,000 after purchasing an additional 274 shares in the last quarter. Garton & Associates Financial Advisors LLC acquired a new position in shares of Xcel Energy in the 4th quarter valued at approximately $30,000. Beacon Financial Strategies CORP acquired a new position in shares of Xcel Energy in the 4th quarter valued at approximately $33,000. Finally, Pittenger & Anderson Inc. increased its stake in Xcel Energy by 73.8% during the 4th quarter. Pittenger & Anderson Inc. now owns 471 shares of the company’s stock worth $35,000 after purchasing an additional 200 shares in the last quarter. Institutional investors and hedge funds own 78.38% of the company’s stock.

Xcel Energy Price Performance

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

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

Xcel Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 20th. Investors of record on Monday, June 15th will be given a $0.5925 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a $2.37 dividend on an annualized basis and a dividend yield of 3.0%. Xcel Energy’s payout ratio is currently 68.30%.

Analyst Ratings Changes

Several analysts have commented on the stock. Weiss Ratings restated a “buy (b-)” rating on shares of Xcel Energy in a report on Wednesday, June 17th. Mizuho reduced their price target on shares of Xcel Energy from $94.00 to $91.00 and set an “outperform” rating for the company in a report on Tuesday, June 23rd. KeyCorp reissued an “overweight” rating on shares of Xcel Energy in a research report on Monday, June 8th. Jefferies Financial Group set a $101.00 price objective on shares of Xcel Energy in a report on Tuesday, July 7th. Finally, Barclays boosted their price objective on shares of Xcel Energy from $87.00 to $90.00 and gave the company an “overweight” rating in a research report on Thursday, July 9th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, Xcel Energy has a consensus rating of “Buy” and a consensus price target of $92.76.

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.