Allstate Corp Purchases Shares of 16,794 Xcel Energy Inc. (NASDAQ:XEL)

Allstate Corp purchased a new position in shares of Xcel Energy Inc. (NASDAQ:XEL - Free Report) in the fourth quarter, according to its most recent filing with the SEC. The firm purchased 16,794 shares of the company's stock, valued at approximately $1,134,000.

Other hedge funds have also added to or reduced their stakes in the company. Pictet Asset Management Holding SA grew its holdings in Xcel Energy by 236.7% during the fourth quarter. Pictet Asset Management Holding SA now owns 4,878,279 shares of the company's stock worth $329,381,000 after buying an additional 3,429,353 shares in the last quarter. State Street Corp increased its stake in Xcel Energy by 6.7% in the 3rd quarter. State Street Corp now owns 37,143,025 shares of the company's stock worth $2,445,477,000 after acquiring an additional 2,323,448 shares during the last quarter. Brookfield Corp ON raised its stake in Xcel Energy by 520.1% in the third quarter. Brookfield Corp ON now owns 2,509,031 shares of the company's stock valued at $163,840,000 after purchasing an additional 2,104,405 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Xcel Energy during the fourth quarter worth about $83,653,000. Finally, Reaves W H & Co. Inc. lifted its position in Xcel Energy by 440.2% in the 4th quarter. Reaves W H & Co. Inc. now owns 1,455,927 shares of the company's stock worth $98,304,000 after buying an additional 1,186,427 shares during the last quarter. 78.38% of the stock is currently owned by institutional investors.

Insider Activity at Xcel Energy

In other Xcel Energy news, Director Devin W. Stockfish purchased 2,170 shares of the business's stock in a transaction that occurred on Tuesday, March 11th. The shares were bought at an average price of $68.93 per share, for a total transaction of $149,578.10. Following the acquisition, the director now owns 3,007 shares in the company, valued at $207,272.51. This represents a 259.26 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.09% of the stock is owned by insiders.

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Xcel Energy Stock Up 2.0 %

XEL stock traded up $1.43 during trading on Thursday, reaching $72.33. 1,702,415 shares of the company traded hands, compared to its average volume of 3,617,520. The company has a market capitalization of $41.56 billion, a price-to-earnings ratio of 21.03, a price-to-earnings-growth ratio of 2.62 and a beta of 0.37. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.82 and a current ratio of 0.93. The business has a 50 day simple moving average of $68.81 and a 200 day simple moving average of $67.39. Xcel Energy Inc. has a 12 month low of $51.97 and a 12 month high of $73.38.

Xcel Energy (NASDAQ:XEL - Get Free Report) last announced its earnings results on Thursday, February 6th. The company reported $0.81 earnings per share for the quarter, missing the consensus estimate of $0.87 by ($0.06). Xcel Energy had a net margin of 14.40% and a return on equity of 10.65%. On average, equities research analysts anticipate that Xcel Energy Inc. will post 3.82 earnings per share for the current fiscal year.

Xcel Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, April 20th. Stockholders of record on Friday, March 14th will be paid a dividend of $0.57 per share. This is an increase from Xcel Energy's previous quarterly dividend of $0.55. This represents a $2.28 annualized dividend and a dividend yield of 3.15%. The ex-dividend date is Friday, March 14th. Xcel Energy's payout ratio is presently 66.28%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Morgan Stanley raised their price target on shares of Xcel Energy from $75.00 to $78.00 and gave the stock an "equal weight" rating in a report on Thursday, March 20th. UBS Group upped their price objective on shares of Xcel Energy from $73.00 to $77.00 and gave the stock a "neutral" rating in a report on Tuesday. Barclays raised their price target on shares of Xcel Energy from $69.00 to $72.00 and gave the company an "overweight" rating in a report on Monday. JPMorgan Chase & Co. raised Xcel Energy from a "neutral" rating to an "overweight" rating and lifted their price objective for the stock from $69.00 to $80.00 in a report on Thursday, December 12th. Finally, KeyCorp increased their price target on shares of Xcel Energy from $74.00 to $79.00 and gave the stock an "overweight" rating in a research report on Wednesday, December 4th. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, Xcel Energy has an average rating of "Moderate Buy" and a consensus price target of $73.00.

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.