California Public Employees Retirement System reduced its stake in Xcel Energy Inc. (NASDAQ:XEL - Free Report) by 5.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,615,400 shares of the company's stock after selling 149,790 shares during the period. California Public Employees Retirement System owned 0.46% of Xcel Energy worth $176,592,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Hodges Capital Management Inc. boosted its position in shares of Xcel Energy by 447.1% in the 4th quarter. Hodges Capital Management Inc. now owns 51,396 shares of the company's stock valued at $3,470,000 after purchasing an additional 42,001 shares during the period. Nomura Asset Management Co. Ltd. increased its stake in Xcel Energy by 7.0% in the third quarter. Nomura Asset Management Co. Ltd. now owns 189,954 shares of the company's stock valued at $12,404,000 after purchasing an additional 12,477 shares during the period. Atomi Financial Group Inc. acquired a new position in Xcel Energy in the 4th quarter valued at about $278,000. GEN Financial Management INC. purchased a new stake in shares of Xcel Energy during the fourth quarter worth approximately $301,000. Finally, Oak Thistle LLC purchased a new position in Xcel Energy during the 4th quarter worth $1,433,000. Institutional investors and hedge funds own 78.38% of the company's stock.
Xcel Energy Price Performance
XEL stock traded up $1.47 on Thursday, reaching $72.37. The company had a trading volume of 1,803,360 shares, compared to its average volume of 3,565,054. The company's fifty day moving average is $68.81 and its 200 day moving average is $67.39. The company has a market cap of $41.58 billion, a P/E ratio of 21.05, a PEG 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. Xcel Energy Inc. has a 1 year low of $51.97 and a 1 year high of $73.38.
Xcel Energy (NASDAQ:XEL - Get Free Report) last issued its quarterly earnings data on Thursday, February 6th. The company reported $0.81 earnings per share (EPS) 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, research analysts forecast that Xcel Energy Inc. will post 3.82 earnings per share for the current year.
Xcel Energy Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Sunday, April 20th. Stockholders of record on Friday, March 14th will be given a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.15%. The ex-dividend date is Friday, March 14th. This is a positive change from Xcel Energy's previous quarterly dividend of $0.55. Xcel Energy's payout ratio is currently 66.28%.
Wall Street Analysts Forecast Growth
A number of equities research analysts have weighed in on the company. UBS Group lifted their price objective on Xcel Energy from $73.00 to $77.00 and gave the company a "neutral" rating in a report on Tuesday. JPMorgan Chase & Co. raised Xcel Energy from a "neutral" rating to an "overweight" rating and raised their target price for the company from $69.00 to $80.00 in a report on Thursday, December 12th. Barclays upped their price target on shares of Xcel Energy from $69.00 to $72.00 and gave the stock an "overweight" rating in a research note on Monday. Wells Fargo & Company raised their price objective on shares of Xcel Energy from $72.00 to $75.00 and gave the company an "overweight" rating in a research note on Friday, February 7th. Finally, Morgan Stanley increased their target price on shares of Xcel Energy from $75.00 to $78.00 and gave the company an "equal weight" rating in a report on Thursday, March 20th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $73.00.
View Our Latest Report on Xcel Energy
Insider Activity at Xcel Energy
In other Xcel Energy news, Director Devin W. Stockfish bought 2,170 shares of the company's stock in a transaction that occurred on 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 completion of the purchase, the director now owns 3,007 shares of the company's stock, valued at $207,272.51. This trade represents a 259.26 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.09% of the company's stock.
Xcel Energy Profile
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Free Report)
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.
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