Marcum Wealth LLC Makes New Investment in Xcel Energy Inc. (NASDAQ:XEL)

Marcum Wealth LLC bought a new position in Xcel Energy Inc. (NASDAQ:XEL) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 3,386 shares of the company’s stock, valued at approximately $221,000.

Other large investors also recently added to or reduced their stakes in the company. ProShare Advisors LLC boosted its holdings in shares of Xcel Energy by 23.2% during the 1st quarter. ProShare Advisors LLC now owns 643,986 shares of the company’s stock worth $34,614,000 after buying an additional 121,118 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its stake in Xcel Energy by 2.4% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,625,530 shares of the company’s stock valued at $87,372,000 after purchasing an additional 38,653 shares during the last quarter. Daiwa Securities Group Inc. raised its stake in Xcel Energy by 24.8% during the 1st quarter. Daiwa Securities Group Inc. now owns 100,969 shares of the company’s stock valued at $5,427,000 after purchasing an additional 20,068 shares during the last quarter. Forsta AP Fonden raised its stake in Xcel Energy by 91.6% during the 1st quarter. Forsta AP Fonden now owns 190,600 shares of the company’s stock valued at $10,245,000 after purchasing an additional 91,100 shares during the last quarter. Finally, Royal London Asset Management Ltd. raised its stake in Xcel Energy by 3,424.0% during the 4th quarter. Royal London Asset Management Ltd. now owns 16,598 shares of the company’s stock valued at $1,028,000 after purchasing an additional 16,127 shares during the last quarter. 78.38% of the stock is owned by institutional investors.

Analysts Set New Price Targets

XEL has been the subject of several research analyst reports. Wells Fargo & Company upped their target price 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. Morgan Stanley increased their price objective on shares of Xcel Energy from $68.00 to $73.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 25th. UBS Group increased 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. Jefferies Financial Group started coverage on shares of Xcel Energy in a research note on Thursday, September 19th. They issued a “hold” rating and a $70.00 price objective for the company. Finally, Argus upgraded shares of Xcel Energy from a “hold” rating to a “buy” rating and set a $68.00 price objective for the company in a research note on Monday, August 26th. Eight analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, Xcel Energy has an average rating of “Hold” and a consensus target price of $64.36.

Xcel Energy Stock Up 0.2 %

Shares of NASDAQ:XEL opened at $62.31 on Friday. The firm has a market cap of $34.62 billion, a P/E ratio of 18.71, a P/E/G ratio of 2.75 and a beta of 0.39. The company has a quick ratio of 0.86, a current ratio of 0.97 and a debt-to-equity ratio of 1.54. Xcel Energy Inc. has a 12 month low of $46.79 and a 12 month high of $65.64. The company’s 50-day moving average price is $62.06 and its two-hundred day moving average price is $57.14.

Xcel Energy (NASDAQ:XEL) last issued its earnings results on Thursday, August 1st. The company reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.57 by ($0.03). The business had revenue of $3.03 billion during the quarter, compared to the consensus estimate of $3.29 billion. Xcel Energy had a net margin of 13.46% and a return on equity of 10.94%. The firm’s revenue for the quarter was up .2% compared to the same quarter last year. During the same period last year, the business posted $0.52 EPS. As a group, research analysts forecast that Xcel Energy Inc. will post 3.55 EPS for the current fiscal year.

Xcel Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, October 20th. Investors of record on Friday, September 13th will be given a $0.548 dividend. This represents a $2.19 dividend on an annualized basis and a dividend yield of 3.52%. This is an increase from Xcel Energy’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend is Friday, September 13th. Xcel Energy’s dividend payout ratio (DPR) is currently 65.77%.

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.