Pinnacle Associates Ltd. bought a new stake in Xcel Energy Inc. (NASDAQ:XEL – Get Rating) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 3,107 shares of the company’s stock, valued at approximately $218,000.
A number of other large investors have also recently made changes to their positions in XEL. Old North State Trust LLC purchased a new stake in Xcel Energy during the 3rd quarter valued at approximately $26,000. Armstrong Advisory Group Inc. purchased a new stake in Xcel Energy during the 4th quarter valued at approximately $34,000. Burleson & Company LLC purchased a new stake in Xcel Energy during the 3rd quarter valued at approximately $32,000. Pinnacle Financial Partners Inc. purchased a new stake in Xcel Energy during the 3rd quarter valued at approximately $32,000. Finally, Marshall & Sullivan Inc. WA purchased a new stake in Xcel Energy during the 4th quarter valued at approximately $42,000. 77.15% of the stock is owned by institutional investors and hedge funds.
Insider Activity
In other news, SVP Frank P. Prager sold 737 shares of Xcel Energy stock in a transaction on Thursday, March 9th. The stock was sold at an average price of $65.00, for a total value of $47,905.00. Following the completion of the sale, the senior vice president now owns 29,340 shares of the company’s stock, valued at $1,907,100. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.05% of the company’s stock.
Xcel Energy Stock Performance
Xcel Energy (NASDAQ:XEL – Get Rating) last announced its quarterly earnings data on Thursday, January 26th. The company reported $0.69 EPS for the quarter, meeting analysts’ consensus estimates of $0.69. The business had revenue of $4.05 billion during the quarter, compared to the consensus estimate of $3.05 billion. Xcel Energy had a return on equity of 10.72% and a net margin of 11.34%. The business’s revenue for the quarter was up 20.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.58 earnings per share. On average, analysts anticipate that Xcel Energy Inc. will post 3.37 EPS for the current fiscal year.
Xcel Energy Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 20th. Stockholders of record on Wednesday, March 15th were given a $0.52 dividend. The ex-dividend date was Tuesday, March 14th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.94%. This is an increase from Xcel Energy’s previous quarterly dividend of $0.49. Xcel Energy’s payout ratio is currently 65.62%.
Analyst Upgrades and Downgrades
Several research firms have commented on XEL. Mizuho reduced their price objective on Xcel Energy from $75.00 to $72.00 and set a “buy” rating for the company in a research note on Friday, March 17th. Wells Fargo & Company cut their target price on Xcel Energy from $76.00 to $73.00 and set an “equal weight” rating for the company in a research note on Friday, January 27th. JPMorgan Chase & Co. raised their price objective on Xcel Energy from $73.00 to $79.00 and gave the company an “overweight” rating in a research note on Wednesday. StockNews.com assumed coverage on Xcel Energy in a research note on Thursday, March 16th. They issued a “hold” rating for the company. Finally, Morgan Stanley raised their price objective on Xcel Energy from $62.00 to $67.00 and gave the company an “equal weight” rating in a research note on Thursday. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $71.50.
Xcel Energy Company Profile
Xcel Energy, Inc operates as a holding company engaged in the generation, purchase, transmission, distribution, and sale of electricity. It operates through the following three segments: Regulated Electric Utility, Regulated Natural Gas Utility and All Others. The Regulated Electric Utility segment generates, transmits, and distributes electricity primarily in Minnesota, Wisconsin, Michigan, North Dakota, South Dakota, Colorado, Texas, and New Mexico.
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