Meyer Handelman Co. Sells 2,526 Shares of Xcel Energy Inc. (NASDAQ:XEL)

Meyer Handelman Co. reduced its position in shares of Xcel Energy Inc. (NASDAQ:XEL) by 4.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 55,374 shares of the company’s stock after selling 2,526 shares during the period. Meyer Handelman Co.’s holdings in Xcel Energy were worth $3,616,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. TruNorth Capital Management LLC acquired a new stake in Xcel Energy during the 2nd quarter valued at approximately $30,000. American National Bank bought a new position in Xcel Energy during the second quarter worth $32,000. Quarry LP acquired a new position in Xcel Energy in the fourth quarter valued at $34,000. Kimelman & Baird LLC bought a new stake in Xcel Energy during the second quarter valued at $35,000. Finally, Rothschild Investment LLC acquired a new stake in Xcel Energy during the 2nd quarter worth about $37,000. Institutional investors and hedge funds own 78.38% of the company’s stock.

Xcel Energy Trading Up 0.2 %

NASDAQ XEL opened at $62.31 on Friday. The stock has a market capitalization of $34.62 billion, a price-to-earnings ratio of 18.71, a PEG ratio of 2.75 and a beta of 0.39. The business’s fifty day moving average is $62.06 and its 200-day moving average is $57.14. The company has a debt-to-equity ratio of 1.54, a current ratio of 0.97 and a quick ratio of 0.86. Xcel Energy Inc. has a one year low of $46.79 and a one year high of $65.64.

Xcel Energy (NASDAQ:XEL) last released its earnings results on Thursday, August 1st. The company reported $0.54 earnings per share for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.03). Xcel Energy had a net margin of 13.46% and a return on equity of 10.94%. The company had revenue of $3.03 billion for the quarter, compared to the consensus estimate of $3.29 billion. During the same period in the prior year, the company earned $0.52 earnings per share. The firm’s revenue was up .2% on a year-over-year basis. Equities research analysts predict that Xcel Energy Inc. will post 3.55 EPS for the current year.

Xcel Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, October 20th. Stockholders of record on Friday, September 13th will be given a $0.548 dividend. The ex-dividend date is Friday, September 13th. This is a boost from Xcel Energy’s previous quarterly dividend of $0.55. This represents a $2.19 annualized dividend and a dividend yield of 3.52%. Xcel Energy’s payout ratio is 65.77%.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. KeyCorp upped their target price on Xcel Energy from $66.00 to $69.00 and gave the company an “overweight” rating in a research report on Monday, September 30th. Jefferies Financial Group assumed coverage on shares of Xcel Energy in a research report on Thursday, September 19th. They set a “hold” rating and a $70.00 price objective for the company. UBS Group lifted their price objective on shares of Xcel Energy from $66.00 to $67.00 and gave the company a “neutral” rating in a research note on Friday, September 20th. Morgan Stanley increased their target price on shares of Xcel Energy from $68.00 to $73.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 25th. Finally, Wells Fargo & Company lifted their price target on shares of Xcel Energy from $57.00 to $63.00 and gave the company an “equal weight” rating in a research note on Friday, August 2nd. Eight analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $64.36.

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.