Parallel Advisors LLC Trims Holdings in Xcel Energy Inc. (NASDAQ:XEL)

by · The Cerbat Gem

Parallel Advisors LLC decreased its stake in shares of Xcel Energy Inc. (NASDAQ:XEL – Free Report) by 17.5% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,065 shares of the company’s stock after selling 863 shares during the quarter. Parallel Advisors LLC’s holdings in Xcel Energy were worth $288,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Rothschild Investment LLC lifted its position in Xcel Energy by 26.0% during the fourth quarter. Rothschild Investment LLC now owns 731 shares of the company’s stock worth $49,000 after buying an additional 151 shares in the last quarter. GenTrust LLC raised its position in Xcel Energy by 4.5% in the fourth quarter. GenTrust LLC now owns 3,602 shares of the company’s stock valued at $243,000 after purchasing an additional 155 shares during the period. Creative Financial Designs Inc. ADV raised its position in Xcel Energy by 23.2% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 827 shares of the company’s stock valued at $56,000 after purchasing an additional 156 shares during the period. EverSource Wealth Advisors LLC raised its position in Xcel Energy by 1.8% in the fourth quarter. EverSource Wealth Advisors LLC now owns 9,242 shares of the company’s stock valued at $624,000 after purchasing an additional 160 shares during the period. Finally, Personal CFO Solutions LLC grew its stake in shares of Xcel Energy by 2.8% in the fourth quarter. Personal CFO Solutions LLC now owns 5,934 shares of the company’s stock valued at $401,000 after buying an additional 163 shares in the last quarter. Hedge funds and other institutional investors own 78.38% of the company’s stock.

Xcel Energy Stock Down 1.2%

Xcel Energy stock opened at $68.50 on Thursday. Xcel Energy Inc. has a fifty-two week low of $51.97 and a fifty-two week high of $73.38. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.82 and a current ratio of 0.93. The company has a market capitalization of $39.51 billion, a P/E ratio of 19.91, a PEG ratio of 2.62 and a beta of 0.37. The stock has a 50-day simple moving average of $69.88 and a 200-day simple moving average of $68.96.

Xcel Energy (NASDAQ:XEL – Get Free Report) last posted its earnings results on Thursday, April 24th. The company reported $0.84 earnings per share for the quarter, missing the consensus estimate of $0.95 by ($0.11). Xcel Energy had a net margin of 14.40% and a return on equity of 10.65%. The firm had revenue of $3.91 billion during the quarter, compared to analysts’ expectations of $3.93 billion. During the same period in the previous year, the firm posted $0.88 earnings per share. The firm’s revenue for the quarter was up 7.0% on a year-over-year basis. Equities research analysts expect that Xcel Energy Inc. will post 3.82 earnings per share for the current year.

Xcel Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 30th. Stockholders of record on Friday, June 13th will be issued a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 3.33%. The ex-dividend date of this dividend is Friday, June 13th. Xcel Energy’s payout ratio is currently 67.06%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on XEL. UBS Group lifted their price objective on Xcel Energy from $73.00 to $77.00 and gave the company a “neutral” rating in a research note on Tuesday, April 1st. BMO Capital Markets lifted their price objective 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. Wall Street Zen cut Xcel Energy from a “hold” rating to a “sell” rating in a research note on Tuesday, May 20th. Morgan Stanley set a $78.00 target price on Xcel Energy and gave the stock an “equal weight” rating in a research note on Thursday, May 22nd. Finally, Wells Fargo & Company set a $78.00 target price on Xcel Energy and gave the stock an “overweight” rating in a research note on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $75.90.

Read Our Latest Report on XEL

Insider Activity

In related news, Director Devin W. Stockfish acquired 2,170 shares of Xcel Energy stock in a transaction on Tuesday, March 11th. The stock was purchased at an average cost of $68.93 per share, with a total value of $149,578.10. Following the purchase, the director now directly owns 3,007 shares in the company, valued at approximately $207,272.51. The trade was a 259.26% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.09% of the company’s stock.

About Xcel Energy

(Free Report)

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.

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