Resona Asset Management Co. Ltd. Takes Position in Xcel Energy Inc. (NASDAQ:XEL)

Resona Asset Management Co. Ltd. acquired a new stake in Xcel Energy Inc. (NASDAQ:XEL - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 179,784 shares of the company's stock, valued at approximately $12,153,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Vanguard Group Inc. grew its position in Xcel Energy by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 73,831,988 shares of the company's stock valued at $4,985,136,000 after buying an additional 953,002 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Xcel Energy by 5.6% in the 4th quarter. JPMorgan Chase & Co. now owns 19,291,149 shares of the company's stock worth $1,302,538,000 after acquiring an additional 1,022,194 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in shares of Xcel Energy by 15.9% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 17,613,239 shares of the company's stock valued at $1,189,246,000 after acquiring an additional 2,422,483 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Xcel Energy by 4.2% during the fourth quarter. Geode Capital Management LLC now owns 15,178,956 shares of the company's stock worth $1,029,223,000 after acquiring an additional 616,853 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC raised its holdings in Xcel Energy by 19.9% during the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 6,573,894 shares of the company's stock worth $443,869,000 after purchasing an additional 1,090,208 shares in the last quarter. 78.38% of the stock is owned by hedge funds and other institutional investors.

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Analyst Upgrades and Downgrades

XEL has been the topic of a number of analyst reports. Morgan Stanley boosted their target price on Xcel Energy from $75.00 to $78.00 and gave the stock an "equal weight" rating in a research report on Thursday, March 20th. Wells Fargo & Company boosted their target price on shares of Xcel Energy from $72.00 to $75.00 and gave the stock an "overweight" rating in a research report on Friday, February 7th. JPMorgan Chase & Co. upgraded shares of Xcel Energy from a "neutral" rating to an "overweight" rating and raised their price objective for the company from $69.00 to $80.00 in a research note on Thursday, December 12th. UBS Group upped their target price on shares of Xcel Energy from $73.00 to $77.00 and gave the stock a "neutral" rating in a research report on Tuesday, April 1st. Finally, Barclays lifted 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. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $73.00.

Xcel Energy Price Performance

Shares of XEL traded up $0.82 during mid-day trading on Friday, reaching $69.23. 823,589 shares of the company's stock were exchanged, compared to its average volume of 3,590,290. Xcel Energy Inc. has a 52-week low of $51.97 and a 52-week high of $73.38. The company has a quick ratio of 0.82, a current ratio of 0.93 and a debt-to-equity ratio of 1.42. The company has a 50-day simple moving average of $69.05 and a two-hundred day simple moving average of $67.60. The company has a market cap of $39.78 billion, a price-to-earnings ratio of 20.12, a PEG ratio of 2.62 and a beta of 0.39.

Xcel Energy (NASDAQ:XEL - Get Free Report) last released its quarterly earnings results on Thursday, February 6th. The company reported $0.81 earnings per share 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, sell-side analysts predict that Xcel Energy Inc. will post 3.82 EPS for the current fiscal year.

Xcel Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, April 20th. Shareholders of record on Friday, March 14th will be paid a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.29%. The ex-dividend date of this dividend is Friday, March 14th. This is a positive change from Xcel Energy's previous quarterly dividend of $0.55. Xcel Energy's dividend payout ratio is currently 66.28%.

Insider Activity

In other Xcel Energy news, Director Devin W. Stockfish bought 2,170 shares of Xcel Energy stock in a transaction that occurred on Tuesday, March 11th. The shares were acquired 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 of the company's stock, valued at $207,272.51. The trade was a 259.26 % increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.09% of the company's stock.

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.