InterOcean Capital Group LLC Purchases Shares of 4,499 Xcel Energy Inc. (NASDAQ:XEL)

InterOcean Capital Group LLC acquired a new position in shares of Xcel Energy Inc. (NASDAQ:XEL) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 4,499 shares of the company’s stock, valued at approximately $242,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Geneos Wealth Management Inc. boosted its holdings in Xcel Energy by 0.9% during the fourth quarter. Geneos Wealth Management Inc. now owns 20,580 shares of the company’s stock worth $1,274,000 after purchasing an additional 182 shares during the last quarter. Xponance Inc. lifted its position in shares of Xcel Energy by 0.3% during the 4th quarter. Xponance Inc. now owns 70,411 shares of the company’s stock worth $4,359,000 after buying an additional 198 shares in the last quarter. Epiq Partners LLC boosted its stake in shares of Xcel Energy by 0.7% in the 1st quarter. Epiq Partners LLC now owns 29,072 shares of the company’s stock worth $1,563,000 after buying an additional 202 shares during the last quarter. Venture Visionary Partners LLC grew its holdings in shares of Xcel Energy by 4.0% in the fourth quarter. Venture Visionary Partners LLC now owns 5,460 shares of the company’s stock valued at $338,000 after acquiring an additional 210 shares in the last quarter. Finally, Avantax Advisory Services Inc. increased its position in shares of Xcel Energy by 1.3% during the first quarter. Avantax Advisory Services Inc. now owns 16,054 shares of the company’s stock valued at $863,000 after acquiring an additional 212 shares during the last quarter. 78.38% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Bank of America lifted their price objective on shares of Xcel Energy from $63.00 to $66.00 and gave the stock a “buy” rating in a research report on Monday, April 29th. StockNews.com upgraded Xcel Energy from a “sell” rating to a “hold” rating in a research note on Thursday, May 2nd. Evercore ISI increased their price objective on Xcel Energy from $54.00 to $59.00 and gave the company an “outperform” rating in a report on Friday, April 26th. Barclays boosted their target price on Xcel Energy from $56.00 to $57.00 and gave the company an “overweight” rating in a research note on Tuesday, April 30th. Finally, KeyCorp decreased their price objective on Xcel Energy from $68.00 to $65.00 and set an “overweight” rating for the company in a report on Friday, April 19th. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Xcel Energy currently has an average rating of “Moderate Buy” and a consensus price target of $62.00.

Xcel Energy Price Performance

XEL stock opened at $57.40 on Friday. The firm has a 50 day simple moving average of $54.28 and a two-hundred day simple moving average of $55.31. The stock has a market cap of $31.89 billion, a PE ratio of 17.10, a P/E/G ratio of 2.48 and a beta of 0.37. Xcel Energy Inc. has a one year low of $46.79 and a one year high of $64.77. The company has a debt-to-equity ratio of 1.48, a current ratio of 0.86 and a quick ratio of 0.74.

Xcel Energy (NASDAQ:XEL) last posted its quarterly earnings data on Thursday, April 25th. The company reported $0.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.80 by $0.08. The firm had revenue of $3.65 billion during the quarter, compared to analysts’ expectations of $4.12 billion. Xcel Energy had a return on equity of 11.03% and a net margin of 13.36%. The company’s revenue for the quarter was down 10.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.76 EPS. On average, analysts predict that Xcel Energy Inc. will post 3.55 EPS for the current fiscal year.

Xcel Energy Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, July 20th. Stockholders of record on Friday, June 14th were paid a $0.5475 dividend. The ex-dividend date of this dividend was Friday, June 14th. This represents a $2.19 dividend on an annualized basis and a dividend yield of 3.82%. Xcel Energy’s dividend payout ratio (DPR) is 65.77%.

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.