Bank of Nova Scotia Grows Holdings in Xcel Energy Inc. (NASDAQ:XEL)

Bank of Nova Scotia raised its holdings in Xcel Energy Inc. (NASDAQ:XEL - Free Report) by 191.3% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 228,242 shares of the company's stock after purchasing an additional 149,898 shares during the period. Bank of Nova Scotia's holdings in Xcel Energy were worth $15,411,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in XEL. Dakota Wealth Management raised its position in Xcel Energy by 0.7% during the fourth quarter. Dakota Wealth Management now owns 23,130 shares of the company's stock valued at $1,562,000 after purchasing an additional 151 shares in the last quarter. Rothschild Investment LLC raised its stake in Xcel Energy by 26.0% during the fourth quarter. Rothschild Investment LLC now owns 731 shares of the company's stock worth $49,000 after acquiring an additional 151 shares in the last quarter. GenTrust LLC boosted its stake in shares of Xcel Energy by 4.5% in the 4th quarter. GenTrust LLC now owns 3,602 shares of the company's stock valued at $243,000 after purchasing an additional 155 shares in the last quarter. Creative Financial Designs Inc. ADV grew its holdings in shares of Xcel Energy by 23.2% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 827 shares of the company's stock valued at $56,000 after purchasing an additional 156 shares during the last quarter. Finally, Integris Wealth Management LLC increased its position in Xcel Energy by 2.6% during the 4th quarter. Integris Wealth Management LLC now owns 6,323 shares of the company's stock worth $427,000 after purchasing an additional 160 shares in the last quarter. Institutional investors and hedge funds own 78.38% of the company's stock.

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Insider Transactions at Xcel Energy

In other news, Director Devin W. Stockfish purchased 2,170 shares of Xcel Energy stock in a transaction dated Tuesday, March 11th. The stock was purchased at an average cost of $68.93 per share, for a total transaction of $149,578.10. Following the transaction, the director now directly owns 3,007 shares of the company's stock, valued at approximately $207,272.51. This trade represents a 259.26 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.09% of the company's stock.

Analysts Set New Price Targets

XEL has been the topic of several recent research reports. Morgan Stanley raised their price objective on Xcel Energy from $75.00 to $78.00 and gave the company an "equal weight" rating in a report on Thursday, March 20th. UBS Group raised their price objective on shares of Xcel Energy from $73.00 to $77.00 and gave the company a "neutral" rating in a report on Tuesday, April 1st. Barclays upped their price target on shares of Xcel Energy from $69.00 to $72.00 and gave the company an "overweight" rating in a research report on Monday, March 31st. Finally, Wells Fargo & Company increased their price objective on Xcel Energy from $72.00 to $75.00 and gave the company an "overweight" rating in a report on Friday, February 7th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $73.00.

Xcel Energy Stock Down 0.7 %

Shares of XEL traded down $0.50 during trading hours on Tuesday, reaching $70.23. 1,607,035 shares of the stock traded hands, compared to its average volume of 3,596,651. The company has a current ratio of 0.93, a quick ratio of 0.82 and a debt-to-equity ratio of 1.42. The company has a market cap of $40.45 billion, a price-to-earnings ratio of 20.41, a PEG ratio of 2.62 and a beta of 0.39. Xcel Energy Inc. has a 52 week low of $51.97 and a 52 week high of $73.38. The stock has a fifty day simple moving average of $69.15 and a 200 day simple moving average of $67.70.

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

Xcel Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, April 20th. Shareholders of record on Friday, March 14th will be given a dividend of $0.57 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $2.28 annualized dividend and a dividend yield of 3.25%. This is an increase from Xcel Energy's previous quarterly dividend of $0.55. Xcel Energy's dividend payout ratio is currently 66.28%.

About Xcel Energy

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.