Sequoia Financial Advisors LLC Increases Stake in Xcel Energy Inc. (NASDAQ:XEL)

Sequoia Financial Advisors LLC lifted its position in Xcel Energy Inc. (NASDAQ:XEL - Free Report) by 143.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 20,565 shares of the company's stock after buying an additional 12,102 shares during the period. Sequoia Financial Advisors LLC's holdings in Xcel Energy were worth $1,389,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. State Street Corp grew its position in shares of Xcel Energy by 6.7% in the third quarter. State Street Corp now owns 37,143,025 shares of the company's stock valued at $2,445,477,000 after purchasing an additional 2,323,448 shares during the period. Brookfield Corp ON increased its position in shares of Xcel Energy by 520.1% during the third quarter. Brookfield Corp ON now owns 2,509,031 shares of the company's stock worth $163,840,000 after acquiring an additional 2,104,405 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Xcel Energy during the 4th quarter worth $83,653,000. Reaves W H & Co. Inc. raised its stake in Xcel Energy by 440.2% during the 4th quarter. Reaves W H & Co. Inc. now owns 1,455,927 shares of the company's stock worth $98,304,000 after acquiring an additional 1,186,427 shares in the last quarter. Finally, Merewether Investment Management LP acquired a new position in Xcel Energy in the third quarter valued at $64,301,000. 78.38% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Devin W. Stockfish acquired 2,170 shares of the company's stock in a transaction dated Tuesday, March 11th. The stock was purchased at an average price of $68.93 per share, with a total value of $149,578.10. Following the completion of the purchase, the director now owns 3,007 shares in the company, valued at $207,272.51. This trade represents a 259.26 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.09% of the stock is currently owned by company insiders.

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Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Wells Fargo & Company boosted their price objective 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 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. Barclays lowered their target price on shares of Xcel Energy from $71.00 to $69.00 and set an "overweight" rating for the company in a research note on Wednesday, January 22nd. Morgan Stanley cut their target price on Xcel Energy from $74.00 to $72.00 and set an "equal weight" rating on the stock in a research note on Friday, November 22nd. Finally, KeyCorp increased their price objective on shares of Xcel Energy from $74.00 to $79.00 and gave the company an "overweight" rating in a report on Wednesday, December 4th. Three research 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 stock presently has an average rating of "Moderate Buy" and a consensus price target of $71.10.

Xcel Energy Stock Performance

XEL stock traded up $0.61 during trading hours on Monday, hitting $70.36. 1,349,329 shares of the stock were exchanged, compared to its average volume of 3,651,293. The company has a 50-day simple moving average of $67.75 and a two-hundred day simple moving average of $66.80. The firm has a market capitalization of $40.42 billion, a P/E ratio of 20.45, a P/E/G ratio of 2.62 and a beta of 0.37. Xcel Energy Inc. has a 12 month low of $51.37 and a 12 month high of $73.38. The company has a current ratio of 0.93, a quick ratio of 0.82 and a debt-to-equity ratio of 1.42.

Xcel Energy (NASDAQ:XEL - Get Free Report) last issued its quarterly 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 net margin of 14.40% and a return on equity of 10.65%. On average, analysts forecast that Xcel Energy Inc. will post 3.82 earnings per share for the current fiscal year.

Xcel Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, April 20th. Investors of record on Friday, March 14th will be paid a dividend of $0.57 per share. The ex-dividend date is Friday, March 14th. This represents a $2.28 annualized dividend and a yield of 3.24%. This is a boost from Xcel Energy's previous quarterly dividend of $0.55. Xcel Energy's payout ratio is currently 66.28%.

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.