Wedge Capital Management L L P NC Sells 35,797 Shares of Xcel Energy Inc. (NASDAQ:XEL)

Wedge Capital Management L L P NC reduced its stake in shares of Xcel Energy Inc. (NASDAQ:XEL) by 16.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 182,919 shares of the company’s stock after selling 35,797 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Xcel Energy were worth $12,351,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in XEL. Ashton Thomas Securities LLC bought a new stake in shares of Xcel Energy during the third quarter valued at approximately $25,000. Transcendent Capital Group LLC bought a new stake in Xcel Energy during the 3rd quarter valued at $33,000. Kimelman & Baird LLC purchased a new stake in shares of Xcel Energy in the 2nd quarter worth $35,000. West Financial Advisors LLC bought a new position in shares of Xcel Energy during the 3rd quarter worth $43,000. Finally, First Financial Corp IN purchased a new position in shares of Xcel Energy during the fourth quarter valued at $46,000. 78.38% of the stock is currently owned by hedge funds and other institutional investors.

Xcel Energy Stock Up 0.8 %

NASDAQ XEL opened at $66.72 on Friday. The business has a fifty day moving average price of $68.42 and a 200 day moving average price of $63.41. 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 cap of $38.31 billion, a P/E ratio of 19.80, a P/E/G ratio of 2.40 and a beta of 0.42. Xcel Energy Inc. has a one year low of $46.79 and a one year high of $73.38.

Xcel Energy (NASDAQ:XEL) last announced its quarterly earnings data on Thursday, October 31st. The company reported $1.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.26 by ($0.01). Xcel Energy had a net margin of 13.67% and a return on equity of 10.76%. The business had revenue of $3.64 billion for the quarter, compared to analysts’ expectations of $3.93 billion. During the same period in the prior year, the company posted $1.23 EPS. The firm’s revenue was down .5% on a year-over-year basis. Research analysts anticipate that Xcel Energy Inc. will post 3.54 EPS for the current fiscal year.

Xcel Energy Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 29th. Stockholders of record on Monday, January 6th will be given a dividend of $0.5475 per share. The ex-dividend date of this dividend is Monday, January 6th. This represents a $2.19 annualized dividend and a dividend yield of 3.28%. Xcel Energy’s payout ratio is 64.99%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. UBS Group upped their price objective on Xcel Energy from $66.00 to $67.00 and gave the stock a “neutral” rating in a research note on Friday, September 20th. KeyCorp lifted their price target on shares of Xcel Energy from $74.00 to $79.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Morgan Stanley decreased their price objective on Xcel Energy from $74.00 to $72.00 and set an “equal weight” rating for the company in a report on Friday, November 22nd. Jefferies Financial Group upgraded Xcel Energy from a “hold” rating to a “buy” rating and boosted their price target for the stock from $71.00 to $76.00 in a research note on Friday, November 1st. Finally, JPMorgan Chase & Co. raised shares of Xcel Energy from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $69.00 to $80.00 in a report on Thursday, December 12th. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, Xcel Energy has a consensus rating of “Moderate Buy” and an average target price of $69.67.

About Xcel Energy

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.