Gabelli Funds LLC Reduces Position in Xcel Energy Inc. (NASDAQ:XEL)

Gabelli Funds LLC cut its stake in shares of Xcel Energy Inc. (NASDAQ:XEL - Free Report) by 2.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 548,216 shares of the company's stock after selling 12,283 shares during the quarter. Gabelli Funds LLC owned 0.10% of Xcel Energy worth $29,280,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Brown Advisory Inc. lifted its stake in Xcel Energy by 8.2% during the fourth quarter. Brown Advisory Inc. now owns 9,751 shares of the company's stock worth $604,000 after purchasing an additional 736 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in Xcel Energy in the 4th quarter worth approximately $350,000. Clearbridge Investments LLC purchased a new stake in Xcel Energy in the fourth quarter worth approximately $483,000. Cambridge Investment Research Advisors Inc. grew its position in Xcel Energy by 1.6% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 116,178 shares of the company's stock valued at $7,193,000 after acquiring an additional 1,869 shares during the last quarter. Finally, US Bancorp DE raised its stake in shares of Xcel Energy by 1.3% during the fourth quarter. US Bancorp DE now owns 404,678 shares of the company's stock worth $25,054,000 after acquiring an additional 5,068 shares in the last quarter. 78.38% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on XEL. KeyCorp lifted their price objective on Xcel Energy from $65.00 to $66.00 and gave the stock an "overweight" rating in a report on Monday, September 16th. Wells Fargo & Company lifted their price target on Xcel Energy from $57.00 to $63.00 and gave the stock an "equal weight" rating in a research note on Friday, August 2nd. Argus raised 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. Morgan Stanley raised their target price on shares of Xcel Energy from $62.00 to $68.00 and gave the stock an "equal weight" rating in a report on Friday, August 23rd. Finally, Jefferies Financial Group assumed coverage on shares of Xcel Energy in a report on Thursday. They set a "hold" rating and a $70.00 price target for the company. Eight research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Xcel Energy has an average rating of "Hold" and a consensus price target of $63.79.

Xcel Energy Stock Down 0.3 %

Shares of Xcel Energy stock traded down $0.17 during trading on Monday, hitting $63.96. The company's stock had a trading volume of 1,381,706 shares, compared to its average volume of 4,277,732. Xcel Energy Inc. has a 52 week low of $46.79 and a 52 week high of $64.95. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.86 and a current ratio of 0.97. The company has a fifty day simple moving average of $59.89 and a two-hundred day simple moving average of $55.96. The company has a market capitalization of $35.54 billion, a PE ratio of 19.26, a P/E/G ratio of 2.81 and a beta of 0.38.

Xcel Energy (NASDAQ:XEL - Get Free Report) last posted its quarterly earnings data 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 last year, the business earned $0.52 EPS. The firm's quarterly revenue was up .2% on a year-over-year basis. Equities research analysts predict that Xcel Energy Inc. will post 3.55 earnings per share for the current year.

Xcel Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, October 20th. Shareholders of record on Friday, September 13th will be paid a dividend of $0.548 per share. This is a positive change from Xcel Energy's previous quarterly dividend of $0.55. This represents a $2.19 dividend on an annualized basis and a yield of 3.43%. The ex-dividend date of this dividend is Friday, September 13th. Xcel Energy's dividend payout ratio (DPR) is currently 65.77%.

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.