Perigon Wealth Management LLC Takes $656,000 Position in Xcel Energy Inc. $XEL

Perigon Wealth Management LLC bought a new position in Xcel Energy Inc. (NASDAQ:XEL) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 8,175 shares of the company’s stock, valued at approximately $656,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Evolution Wealth Management Inc. grew its holdings in Xcel Energy by 365.3% in the 1st quarter. Evolution Wealth Management Inc. now owns 349 shares of the company’s stock worth $28,000 after acquiring an additional 274 shares during the last quarter. Garton & Associates Financial Advisors LLC purchased a new stake in shares of Xcel Energy during the fourth quarter worth about $30,000. Pittenger & Anderson Inc. boosted its holdings in shares of Xcel Energy by 73.8% during the fourth quarter. Pittenger & Anderson Inc. now owns 471 shares of the company’s stock worth $35,000 after purchasing an additional 200 shares during the period. Advocate Investing Services LLC purchased a new stake in shares of Xcel Energy during the fourth quarter worth about $38,000. Finally, Cedar Mountain Advisors LLC bought a new stake in shares of Xcel Energy in the first quarter worth about $39,000. 78.38% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. JPMorgan Chase & Co. boosted their price target on Xcel Energy from $91.00 to $102.00 and gave the company an “overweight” rating in a report on Thursday, July 16th. Morgan Stanley set a $89.00 price objective on Xcel Energy in a research report on Wednesday, June 24th. New Street Research set a $91.00 target price on Xcel Energy in a research note on Tuesday, June 23rd. Weiss Ratings restated a “buy (b-)” rating on shares of Xcel Energy in a report on Wednesday, June 17th. Finally, BTIG Research reaffirmed a “buy” rating and issued a $99.00 price target on shares of Xcel Energy in a research note on Friday, July 31st. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, Xcel Energy currently has a consensus rating of “Buy” and an average price target of $92.41.

Xcel Energy Stock Performance

Xcel Energy stock opened at $79.41 on Thursday. The stock’s 50 day simple moving average is $79.40 and its two-hundred day simple moving average is $79.70. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.62 and a current ratio of 0.70. The stock has a market cap of $49.60 billion, a price-to-earnings ratio of 21.76, a PEG ratio of 2.06 and a beta of 0.39. Xcel Energy Inc. has a fifty-two week low of $71.29 and a fifty-two week high of $84.23.

Xcel Energy (NASDAQ:XEL) last announced its earnings results on Thursday, July 30th. The company reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.14. The firm had revenue of $3.12 billion during the quarter, compared to analyst estimates of $3.54 billion. Xcel Energy had a return on equity of 10.65% and a net margin of 15.28%.The business’s revenue was down 5.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.59 EPS. As a group, analysts expect that Xcel Energy Inc. will post 4.11 earnings per share for the current fiscal year.

Xcel Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 20th. Shareholders of record on Tuesday, September 15th will be issued a $0.5925 dividend. The ex-dividend date is Tuesday, September 15th. This represents a $2.37 dividend on an annualized basis and a yield of 3.0%. Xcel Energy’s dividend payout ratio is 64.93%.

Xcel Energy Profile

Xcel Energy (NASDAQ: XEL) is a Minneapolis-based, publicly traded utility holding company that develops, owns and operates regulated electricity and natural gas delivery systems. The company’s core activities include generation, transmission and distribution of electricity, the delivery of natural gas to customers, and related customer service operations. Xcel provides a mix of utility services to residential, commercial and industrial customers and participates in wholesale energy markets where appropriate.

Its generation portfolio combines nuclear, natural gas, coal and a growing share of renewable resources such as wind and solar.