Xcel Energy Inc. (NASDAQ:XEL) Shares Sold by HITE Hedge Asset Management LLC

HITE Hedge Asset Management LLC reduced its holdings in shares of Xcel Energy Inc. (NASDAQ:XEL - Free Report) by 70.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 64,324 shares of the company's stock after selling 150,966 shares during the period. HITE Hedge Asset Management LLC's holdings in Xcel Energy were worth $3,436,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the business. Heritage Wealth Advisors purchased a new position in shares of Xcel Energy in the 4th quarter valued at about $25,000. TruNorth Capital Management LLC purchased a new position in Xcel Energy in the second quarter worth approximately $30,000. American National Bank purchased a new position in Xcel Energy in the second quarter worth approximately $32,000. Quarry LP acquired a new position in Xcel Energy during the 4th quarter worth approximately $34,000. Finally, Rothschild Investment LLC purchased a new stake in shares of Xcel Energy in the 2nd quarter valued at approximately $37,000. 78.38% of the stock is currently owned by institutional investors and hedge funds.

Xcel Energy Stock Performance

Shares of NASDAQ XEL traded up $0.02 during midday trading on Wednesday, reaching $64.19. 2,840,071 shares of the company were exchanged, compared to its average volume of 4,276,634. The stock has a fifty day simple moving average of $60.31 and a 200 day simple moving average of $56.15. The company has a current ratio of 0.97, a quick ratio of 0.86 and a debt-to-equity ratio of 1.54. The stock has a market cap of $35.67 billion, a P/E ratio of 19.26, a PEG ratio of 2.82 and a beta of 0.38. Xcel Energy Inc. has a 1 year low of $46.79 and a 1 year high of $64.95.

Xcel Energy (NASDAQ:XEL - Get Free Report) last released its earnings results on Thursday, August 1st. The company reported $0.54 earnings per share (EPS) 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 during the quarter, compared to analyst estimates of $3.29 billion. During the same period in the previous year, the firm posted $0.52 EPS. The company's revenue for the quarter was up .2% on a year-over-year basis. On average, research analysts forecast that Xcel Energy Inc. will post 3.55 earnings per share 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. Stockholders of record on Friday, September 13th will be paid a dividend of $0.548 per share. This represents a $2.19 dividend on an annualized basis and a dividend yield of 3.41%. This is a positive change from Xcel Energy's previous quarterly dividend of $0.55. The ex-dividend date is Friday, September 13th. Xcel Energy's payout ratio is 65.77%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. KeyCorp lifted their price objective on shares of Xcel Energy from $65.00 to $66.00 and gave the stock an "overweight" rating in a research report on Monday, September 16th. 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 report on Friday, September 20th. Morgan Stanley increased their price objective on Xcel Energy from $68.00 to $73.00 and gave the company an "equal weight" rating in a report on Wednesday. Argus upgraded Xcel Energy from a "hold" rating to a "buy" rating and set a $68.00 target price for the company in a research note on Monday, August 26th. Finally, Wells Fargo & Company raised their price objective on shares of Xcel Energy from $57.00 to $63.00 and gave the stock an "equal weight" rating in a report 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, Xcel Energy has an average rating of "Hold" and an average price target of $64.14.

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.