Coastal Bridge Advisors LLC Buys New Shares in Xcel Energy Inc. (NASDAQ:XEL)

Key Points

• Coastal Bridge Advisors LLC acquired 3,518 shares of Xcel Energy Inc. during the 1st quarter, valued at approximately $249,000.
• Xcel Energy announced a quarterly dividend of $0.57 per share, resulting in an annual yield of 3.15%, with a payout ratio of 67.06%.
• Research analysts have varied opinions on Xcel Energy, with an average rating of Moderate Buy and a target price of $75.80.

Coastal Bridge Advisors LLC purchased a new position in shares of Xcel Energy Inc. (NASDAQ:XEL - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 3,518 shares of the company's stock, valued at approximately $249,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in XEL. BankPlus Trust Department acquired a new stake in Xcel Energy during the 1st quarter worth approximately $34,000. Rossby Financial LCC acquired a new stake in shares of Xcel Energy during the first quarter worth $50,000. Alpine Bank Wealth Management purchased a new position in Xcel Energy in the 1st quarter valued at $53,000. Itau Unibanco Holding S.A. purchased a new position in Xcel Energy in the 4th quarter valued at $52,000. Finally, WFA Asset Management Corp increased its stake in Xcel Energy by 449.0% in the 1st quarter. WFA Asset Management Corp now owns 1,131 shares of the company's stock valued at $80,000 after buying an additional 925 shares during the period. Hedge funds and other institutional investors own 78.38% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on XEL. Wall Street Zen downgraded shares of Xcel Energy from a "hold" rating to a "sell" rating in a report on Tuesday, May 20th. Morgan Stanley cut their target price on Xcel Energy from $78.00 to $77.00 and set an "equal weight" rating for the company in a research note on Wednesday, June 18th. Wells Fargo & Company set a $78.00 price target on Xcel Energy and gave the company an "overweight" rating in a research note on Friday, April 25th. Mizuho increased their price objective on Xcel Energy from $74.00 to $78.00 and gave the stock an "outperform" rating in a research report on Friday. Finally, Barclays upped their price target on shares of Xcel Energy from $72.00 to $73.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 22nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $76.00.

Xcel Energy Price Performance

NASDAQ XEL traded up $0.03 during trading hours on Friday, reaching $73.47. The company's stock had a trading volume of 4,004,104 shares, compared to its average volume of 2,782,631. The company has a debt-to-equity ratio of 1.48, a quick ratio of 0.70 and a current ratio of 0.80. The stock has a market cap of $42.37 billion, a PE ratio of 20.35, a PEG ratio of 2.47 and a beta of 0.34. The company's 50-day moving average is $69.18 and its two-hundred day moving average is $69.14. Xcel Energy Inc. has a fifty-two week low of $57.24 and a fifty-two week high of $74.13.

Xcel Energy (NASDAQ:XEL - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The company reported $0.75 EPS for the quarter, beating the consensus estimate of $0.66 by $0.09. The business had revenue of $3.29 billion for the quarter, compared to analyst estimates of $3.31 billion. Xcel Energy had a net margin of 14.85% and a return on equity of 10.71%. The company's quarterly revenue was up 8.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.54 earnings per share. Analysts forecast that Xcel Energy Inc. will post 3.82 EPS for the current year.

Xcel Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, October 20th. Investors of record on Monday, September 15th will be paid a $0.57 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $2.28 annualized dividend and a yield of 3.1%. Xcel Energy's payout ratio is presently 63.16%.

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.