Financial Gravity Asset Management Inc. Invests $329,000 in Xcel Energy Inc. (NASDAQ:XEL)

Financial Gravity Asset Management Inc. bought a new position in shares of Xcel Energy Inc. (NASDAQ:XEL - Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor bought 4,652 shares of the company's stock, valued at approximately $329,000.

Other large investors have also recently added to or reduced their stakes in the company. Bank of America Corp DE grew its holdings in Xcel Energy by 43.6% during the 4th quarter. Bank of America Corp DE now owns 20,762,745 shares of the company's stock worth $1,401,901,000 after acquiring an additional 6,306,380 shares in the last quarter. FMR LLC grew its holdings in Xcel Energy by 118.3% during the 4th quarter. FMR LLC now owns 6,608,044 shares of the company's stock worth $446,175,000 after acquiring an additional 3,581,436 shares in the last quarter. Zimmer Partners LP grew its holdings in Xcel Energy by 1,625.7% during the 4th quarter. Zimmer Partners LP now owns 3,667,200 shares of the company's stock worth $247,609,000 after acquiring an additional 3,454,700 shares in the last quarter. Pictet Asset Management Holding SA grew its holdings in Xcel Energy by 236.7% during the 4th quarter. Pictet Asset Management Holding SA now owns 4,878,279 shares of the company's stock worth $329,381,000 after acquiring an additional 3,429,353 shares in the last quarter. Finally, Janus Henderson Group PLC grew its holdings in Xcel Energy by 379.3% during the 4th quarter. Janus Henderson Group PLC now owns 4,022,085 shares of the company's stock worth $271,578,000 after acquiring an additional 3,182,939 shares in the last quarter. 78.38% of the stock is owned by hedge funds and other institutional investors.

Xcel Energy Stock Performance

Shares of NASDAQ:XEL traded up $0.25 on Friday, reaching $68.70. 1,130,198 shares of the company's stock were exchanged, compared to its average volume of 3,680,852. The firm has a market capitalization of $39.62 billion, a price-to-earnings ratio of 20.21, a PEG ratio of 2.37 and a beta of 0.36. Xcel Energy Inc. has a fifty-two week low of $52.97 and a fifty-two week high of $73.38. The business's 50-day moving average is $68.90 and its two-hundred day moving average is $68.60. The company has a quick ratio of 0.70, a current ratio of 0.80 and a debt-to-equity ratio of 1.48.

Xcel Energy (NASDAQ:XEL - Get Free Report) last issued its earnings results on Thursday, April 24th. The company reported $0.84 earnings per share for the quarter, missing analysts' consensus estimates of $0.95 by ($0.11). The business had revenue of $3.91 billion for the quarter, compared to analyst estimates of $3.93 billion. Xcel Energy had a return on equity of 10.20% and a net margin of 14.10%. The firm's revenue for the quarter was up 7.0% on a year-over-year basis. During the same period last year, the company posted $0.88 earnings per share. As a group, equities research analysts forecast that Xcel Energy Inc. will post 3.82 EPS for the current year.

Xcel Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Sunday, July 20th. Shareholders of record on Friday, June 13th will be paid a dividend of $0.57 per share. The ex-dividend date is Friday, June 13th. This represents a $2.28 annualized dividend and a yield of 3.32%. Xcel Energy's payout ratio is 67.06%.

Analysts Set New Price Targets

XEL has been the subject of several research analyst reports. Barclays upped their target price on shares of Xcel Energy from $72.00 to $73.00 and gave the company an "overweight" rating in a report on Tuesday, April 22nd. UBS Group upped their target price on shares of Xcel Energy from $73.00 to $77.00 and gave the company a "neutral" rating in a report on Tuesday, April 1st. Wells Fargo & Company set a $78.00 target price on shares of Xcel Energy and gave the company an "overweight" rating in a report on Friday, April 25th. BMO Capital Markets upped their price target on shares of Xcel Energy from $69.00 to $73.00 and gave the company a "market perform" rating in a research report on Wednesday, April 23rd. Finally, Wall Street Zen downgraded shares of Xcel Energy from a "hold" rating to a "sell" rating in a research report on Tuesday, May 20th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat.com, Xcel Energy currently has an average rating of "Moderate Buy" and a consensus target price of $75.80.

Xcel Energy 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.