Polymer Capital Management US LLC Invests $7.22 Million in Xcel Energy Inc. (NASDAQ:XEL)

Polymer Capital Management US LLC purchased a new stake in Xcel Energy Inc. (NASDAQ:XEL - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 106,977 shares of the company's stock, valued at approximately $7,223,000. Xcel Energy makes up approximately 2.0% of Polymer Capital Management US LLC's holdings, making the stock its 8th largest position.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Cerity Partners LLC raised its holdings in shares of Xcel Energy by 1.9% during the fourth quarter. Cerity Partners LLC now owns 277,941 shares of the company's stock valued at $18,513,000 after acquiring an additional 5,180 shares during the period. FMR LLC raised its stake in Xcel Energy by 118.3% during the 4th quarter. FMR LLC now owns 6,608,044 shares of the company's stock valued at $446,175,000 after purchasing an additional 3,581,436 shares during the period. Polymer Capital Management HK LTD acquired a new stake in Xcel Energy during the 4th quarter valued at $422,000. Ilmarinen Mutual Pension Insurance Co lifted its holdings in shares of Xcel Energy by 65.4% in the fourth quarter. Ilmarinen Mutual Pension Insurance Co now owns 155,500 shares of the company's stock valued at $10,499,000 after purchasing an additional 61,500 shares in the last quarter. Finally, Envestnet Asset Management Inc. boosted its position in shares of Xcel Energy by 1.8% in the fourth quarter. Envestnet Asset Management Inc. now owns 1,321,633 shares of the company's stock worth $89,237,000 after buying an additional 23,341 shares during the period. Institutional investors and hedge funds own 78.38% of the company's stock.

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Insider Activity

In other Xcel Energy news, Director Devin W. Stockfish bought 2,170 shares of the firm's stock in a transaction that occurred on Tuesday, March 11th. The stock was purchased at an average price of $68.93 per share, for a total transaction of $149,578.10. Following the purchase, the director now directly owns 3,007 shares in the company, valued at $207,272.51. This trade represents a 259.26 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.09% of the company's stock.

Analysts Set New Price Targets

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

Xcel Energy Stock Up 1.7 %

Shares of XEL traded up $1.15 during mid-day trading on Friday, hitting $69.56. 3,148,380 shares of the company's stock were exchanged, compared to its average volume of 3,602,948. The stock has a market cap of $39.97 billion, a price-to-earnings ratio of 20.22, a P/E/G ratio of 2.62 and a beta of 0.39. Xcel Energy Inc. has a twelve month low of $51.97 and a twelve month high of $73.38. The firm has a fifty day moving average of $69.09 and a two-hundred day moving average of $67.63. The company has a quick ratio of 0.82, a current ratio of 0.93 and a debt-to-equity ratio of 1.42.

Xcel Energy (NASDAQ:XEL - Get Free Report) last posted 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, sell-side analysts forecast that Xcel Energy Inc. will post 3.82 earnings per share for the current year.

Xcel Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, April 20th. Shareholders of record on Friday, March 14th will be issued a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 3.28%. The ex-dividend date is Friday, March 14th. This is an increase from Xcel Energy's previous quarterly dividend of $0.55. Xcel Energy's dividend payout ratio (DPR) is 66.28%.

Xcel Energy Company 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.