Wells Fargo & Company MN reduced its holdings in shares of Xcel Energy Inc. (NASDAQ:XEL - Free Report) by 70.8% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 1,792,486 shares of the company's stock after selling 4,350,967 shares during the period. Wells Fargo & Company MN owned about 0.31% of Xcel Energy worth $121,029,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in the business. Sierra Ocean LLC purchased a new position in Xcel Energy during the fourth quarter valued at approximately $26,000. Fairway Wealth LLC purchased a new position in Xcel Energy during the 4th quarter worth $27,000. Crews Bank & Trust acquired a new position in Xcel Energy during the 4th quarter valued at about $34,000. MCF Advisors LLC raised its stake in Xcel Energy by 566.3% in the fourth quarter. MCF Advisors LLC now owns 593 shares of the company's stock valued at $40,000 after buying an additional 504 shares during the last quarter. Finally, First Financial Corp IN acquired a new stake in Xcel Energy in the fourth quarter worth about $46,000. 78.38% of the stock is currently owned by institutional investors.
Xcel Energy Price Performance
XEL stock traded up $0.80 during mid-day trading on Friday, reaching $69.21. 823,589 shares of the company's stock were exchanged, compared to its average volume of 3,590,214. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.93 and a quick ratio of 0.82. Xcel Energy Inc. has a 12-month low of $51.97 and a 12-month high of $73.38. The stock's 50 day moving average is $69.05 and its 200 day moving average is $67.60. The company has a market cap of $39.76 billion, a price-to-earnings ratio of 20.12, a price-to-earnings-growth 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 (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, research analysts expect that Xcel Energy Inc. will post 3.82 EPS for the current year.
Xcel Energy Increases Dividend
The company also recently disclosed 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 is a positive change from Xcel Energy's previous quarterly dividend of $0.55. This represents a $2.28 annualized dividend and a yield of 3.29%. The ex-dividend date is Friday, March 14th. Xcel Energy's payout ratio is 66.28%.
Analyst Upgrades and Downgrades
Several equities analysts have recently issued reports on the stock. Morgan Stanley upped their price objective 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. Barclays raised their price target on shares of Xcel Energy from $69.00 to $72.00 and gave the stock an "overweight" rating in a report on Monday, March 31st. UBS Group upped their target price on Xcel Energy from $73.00 to $77.00 and gave the company a "neutral" rating in a research report on Tuesday, April 1st. Wells Fargo & Company lifted their price target on Xcel Energy from $72.00 to $75.00 and gave the stock an "overweight" rating in a research report on Friday, February 7th. Finally, JPMorgan Chase & Co. raised Xcel Energy from a "neutral" rating to an "overweight" rating and increased their price objective for the company from $69.00 to $80.00 in a report on Thursday, December 12th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $73.00.
Check Out Our Latest Stock Analysis on Xcel Energy
Insider Buying and Selling at Xcel Energy
In other Xcel Energy news, Director Devin W. Stockfish bought 2,170 shares of the firm's stock in a transaction on Tuesday, March 11th. The shares were acquired at an average cost of $68.93 per share, with a total value of $149,578.10. Following the purchase, the director now directly 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 acquisition was disclosed in a filing with the SEC, which is available through 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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