Viking Fund Management LLC Boosts Stock Position in Xcel Energy Inc. (NASDAQ:XEL)

Viking Fund Management LLC grew its holdings in shares of Xcel Energy Inc. (NASDAQ:XEL - Free Report) by 32.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 162,400 shares of the company's stock after purchasing an additional 40,000 shares during the period. Xcel Energy comprises 1.7% of Viking Fund Management LLC's holdings, making the stock its 11th largest holding. Viking Fund Management LLC's holdings in Xcel Energy were worth $10,605,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the stock. TruNorth Capital Management LLC acquired a new stake in Xcel Energy in the second quarter valued at about $30,000. American National Bank acquired a new position in shares of Xcel Energy during the second quarter worth $32,000. Quarry LP bought a new stake in shares of Xcel Energy in the fourth quarter worth $34,000. Kimelman & Baird LLC acquired a new stake in shares of Xcel Energy in the second quarter valued at about $35,000. Finally, Rothschild Investment LLC bought a new position in Xcel Energy during the second quarter worth $37,000. 78.38% of the stock is currently owned by institutional investors.

Xcel Energy Price Performance

Xcel Energy stock traded up $0.15 during midday trading on Friday, reaching $62.31. 2,822,159 shares of the stock traded hands, compared to its average volume of 4,169,201. The stock's fifty day moving average is $62.06 and its 200-day moving average is $57.18. Xcel Energy Inc. has a 12 month low of $46.79 and a 12 month high of $65.64. The company has a quick ratio of 0.86, a current ratio of 0.97 and a debt-to-equity ratio of 1.54. The stock has a market cap of $34.62 billion, a P/E ratio of 18.71, a PEG ratio of 2.75 and a beta of 0.39.

Xcel Energy (NASDAQ:XEL - Get Free Report) last posted its quarterly earnings data on Thursday, August 1st. The company reported $0.54 EPS for the quarter, missing the consensus estimate of $0.57 by ($0.03). Xcel Energy had a return on equity of 10.94% and a net margin of 13.46%. The firm had revenue of $3.03 billion for the quarter, compared to analysts' expectations of $3.29 billion. During the same period in the previous year, the firm earned $0.52 earnings per share. The firm's quarterly revenue was up .2% compared to the same quarter last year. As a group, equities research analysts anticipate that Xcel Energy Inc. will post 3.55 EPS for the current year.

Xcel Energy Increases Dividend

The firm 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 dividend of $0.548 per share. The ex-dividend date is Friday, September 13th. This is an increase from Xcel Energy's previous quarterly dividend of $0.55. This represents a $2.19 dividend on an annualized basis and a dividend yield of 3.52%. Xcel Energy's dividend payout ratio is presently 65.77%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on XEL shares. Jefferies Financial Group started coverage on Xcel Energy in a research note on Thursday, September 19th. They set a "hold" rating and a $70.00 price target on the stock. Wells Fargo & Company lifted their price objective on Xcel Energy from $57.00 to $63.00 and gave the stock an "equal weight" rating in a report on Friday, August 2nd. UBS Group raised their target price 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 increased their price target on shares of Xcel Energy from $66.00 to $69.00 and gave the stock an "overweight" rating in a report on Monday, September 30th. Finally, Argus raised Xcel Energy from a "hold" rating to a "buy" rating and set a $68.00 price target on the stock in a report on Monday, August 26th. Eight research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $64.36.

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.