Cadence Capital Management LLC Decreases Position in Xcel Energy Inc (XEL)

Cadence Capital Management LLC cut its position in shares of Xcel Energy Inc (NYSE:XEL) by 4.8% in the first quarter, HoldingsChannel reports. The institutional investor owned 6,905 shares of the utilities provider’s stock after selling 349 shares during the period. Cadence Capital Management LLC’s holdings in Xcel Energy were worth $388,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in Xcel Energy by 7.2% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 30,062 shares of the utilities provider’s stock valued at $1,690,000 after purchasing an additional 2,020 shares during the last quarter. Hanson McClain Inc. boosted its position in Xcel Energy by 30.4% during the first quarter. Hanson McClain Inc. now owns 2,147 shares of the utilities provider’s stock valued at $121,000 after purchasing an additional 500 shares during the last quarter. Stratos Wealth Partners LTD. boosted its position in Xcel Energy by 0.9% during the first quarter. Stratos Wealth Partners LTD. now owns 65,959 shares of the utilities provider’s stock valued at $3,708,000 after purchasing an additional 571 shares during the last quarter. Aveo Capital Partners LLC acquired a new position in Xcel Energy during the first quarter valued at approximately $222,000. Finally, Sumitomo Mitsui Asset Management Company LTD boosted its position in Xcel Energy by 7.0% during the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 43,414 shares of the utilities provider’s stock valued at $2,440,000 after purchasing an additional 2,825 shares during the last quarter. Institutional investors and hedge funds own 73.96% of the company’s stock.

In other news, Chairman Benjamin G. S. Fowke III sold 75,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $55.13, for a total value of $4,134,750.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Judy M. Poferl sold 8,953 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $55.86, for a total value of $500,114.58. Following the completion of the sale, the senior vice president now directly owns 8,855 shares of the company’s stock, valued at $494,640.30. The disclosure for this sale can be found here. Company insiders own 0.22% of the company’s stock.

Several research analysts recently commented on the company. Zacks Investment Research cut Xcel Energy from a “buy” rating to a “hold” rating and set a $60.00 price target for the company. in a research report on Saturday, February 16th. Wolfe Research set a $57.00 price target on Xcel Energy and gave the company a “hold” rating in a research report on Friday, April 26th. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. Xcel Energy presently has a consensus rating of “Hold” and a consensus target price of $53.14.

Shares of NYSE XEL opened at $58.39 on Tuesday. Xcel Energy Inc has a 52 week low of $41.99 and a 52 week high of $58.69.

Xcel Energy (NYSE:XEL) last released its quarterly earnings data on Thursday, April 25th. The utilities provider reported $0.61 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.61. The business had revenue of $3.14 billion during the quarter, compared to analyst estimates of $3.11 billion. During the same period in the previous year, the business earned $0.57 earnings per share. The business’s quarterly revenue was up 6.4% on a year-over-year basis.

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, July 20th. Stockholders of record on Friday, June 14th will be given a $0.405 dividend. The ex-dividend date is Thursday, June 13th. This represents a $1.62 dividend on an annualized basis and a dividend yield of 2.77%.

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Xcel Energy Company Profile

Xcel Energy Inc is a public utility holding company. The Company’s operations include the activity of four utility subsidiaries that serve electric and natural gas customers in eight states. The Company’s segments include regulated electric utility, regulated natural gas utility and all other. The Company’s utility subsidiaries include NSP-Minnesota, NSP-Wisconsin, Public Service Company of Colorado (PSCo) and Southwestern Public Service Co (SPS), which serve customers in portions of Colorado, Michigan, Minnesota, New Mexico, North Dakota, South Dakota, Texas and Wisconsin.

Further Reading: Debt-To-Equity Ratio

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Institutional Ownership by Quarter for Xcel Energy (NYSE:XEL)

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