Legacy Capital Group California Inc. Purchases New Holdings in Xcel Energy Inc. (NASDAQ:XEL)

Key Points

• Legacy Capital Group California Inc. acquired a new stake in Xcel Energy Inc., purchasing 6,299 shares valued at approximately $446,000 in the first quarter.
• Research reports show a range of analyst ratings for Xcel Energy, with a consensus price target of $76.00 and eight analysts rating it a buy.
• Xcel Energy declared a quarterly dividend of $0.57 per share, resulting in an annualized yield of 3.1% with a payout ratio of 63.16%.

Legacy Capital Group California Inc. purchased a new stake in Xcel Energy Inc. (NASDAQ:XEL - Free Report) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 6,299 shares of the company's stock, valued at approximately $446,000.

Several other hedge funds have also modified their holdings of the business. Accent Capital Management LLC acquired a new position in Xcel Energy during the first quarter worth $29,000. BankPlus Trust Department acquired a new position in Xcel Energy during the first quarter worth $34,000. Rossby Financial LCC acquired a new position in Xcel Energy during the first quarter worth $50,000. Itau Unibanco Holding S.A. acquired a new position in Xcel Energy during the fourth quarter worth $52,000. Finally, Alpine Bank Wealth Management acquired a new position in Xcel Energy during the first quarter worth $53,000. 78.38% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

XEL has been the subject of several research reports. Evercore ISI lifted their price objective on Xcel Energy from $74.00 to $77.00 and gave the stock an "outperform" rating in a report on Monday, April 28th. Wall Street Zen lowered Xcel Energy from a "hold" rating to a "sell" rating in a research note on Tuesday, May 20th. BMO Capital Markets upped their target price on Xcel Energy from $69.00 to $73.00 and gave the company a "market perform" rating in a research note on Wednesday, April 23rd. Morgan Stanley dropped 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. Finally, Barclays upped their target price on Xcel Energy from $72.00 to $73.00 and gave the company an "overweight" rating in a research note on Tuesday, April 22nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $76.00.

Xcel Energy Stock Up 0.1%

Shares of NASDAQ XEL traded up $0.10 on Friday, hitting $73.33. The company had a trading volume of 3,328,850 shares, compared to its average volume of 3,379,997. Xcel Energy Inc. has a 12-month low of $57.24 and a 12-month high of $74.57. The business has a 50 day moving average of $69.57 and a two-hundred day moving average of $69.38. The company has a quick ratio of 0.85, a current ratio of 0.96 and a debt-to-equity ratio of 1.48. The firm has a market capitalization of $43.37 billion, a P/E ratio of 20.31, a PEG ratio of 2.47 and a beta of 0.34.

Xcel Energy (NASDAQ:XEL - Get Free Report) last issued its earnings results on Thursday, July 31st. The company reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.09. Xcel Energy had a return on equity of 10.52% and a net margin of 14.85%. The company had revenue of $3.29 billion during the quarter, compared to the consensus estimate of $3.31 billion. During the same quarter in the prior year, the business earned $0.54 earnings per share. The company's revenue was up 8.6% compared to the same quarter last year. As a group, equities research analysts forecast that Xcel Energy Inc. will post 3.82 earnings per share for the current fiscal year.

Xcel Energy Dividend Announcement

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

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.