Westpac Banking Corp Reduces Holdings in Xcel Energy Inc. (NASDAQ:XEL)

Westpac Banking Corp lessened its holdings in shares of Xcel Energy Inc. (NASDAQ:XEL - Free Report) by 44.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 20,246 shares of the company's stock after selling 16,453 shares during the period. Westpac Banking Corp's holdings in Xcel Energy were worth $1,367,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of XEL. Vanguard Group Inc. lifted its position in shares of Xcel Energy by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 73,831,988 shares of the company's stock valued at $4,985,136,000 after acquiring an additional 953,002 shares during the period. State Street Corp increased its stake in Xcel Energy by 6.7% in the 3rd 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 in the last quarter. JPMorgan Chase & Co. raised its holdings in Xcel Energy by 5.6% during the fourth quarter. JPMorgan Chase & Co. now owns 19,291,149 shares of the company's stock worth $1,302,538,000 after purchasing an additional 1,022,194 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in Xcel Energy by 15.9% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 17,613,239 shares of the company's stock worth $1,189,246,000 after purchasing an additional 2,422,483 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in Xcel Energy by 4.2% in the fourth quarter. Geode Capital Management LLC now owns 15,178,956 shares of the company's stock valued at $1,029,223,000 after purchasing an additional 616,853 shares during the last quarter. Institutional investors and hedge funds own 78.38% of the company's stock.

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Xcel Energy Trading Up 2.3 %

NASDAQ XEL traded up $1.54 during trading hours on Wednesday, hitting $68.58. 6,516,989 shares of the company's stock were exchanged, compared to its average volume of 3,599,979. The business's 50 day moving average is $69.03 and its 200-day moving average is $67.57. 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 12-month low of $51.97 and a 12-month high of $73.38. The firm has a market capitalization of $39.40 billion, a P/E ratio of 19.94, a price-to-earnings-growth ratio of 2.62 and a beta of 0.39.

Xcel Energy (NASDAQ:XEL - Get Free Report) last announced its quarterly earnings data 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 return on equity of 10.65% and a net margin of 14.40%. As a group, analysts anticipate that Xcel Energy Inc. will post 3.82 EPS 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. Stockholders of record on Friday, March 14th will be issued a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.32%. This is an increase from Xcel Energy's previous quarterly dividend of $0.55. The ex-dividend date is Friday, March 14th. Xcel Energy's dividend payout ratio is presently 66.28%.

Insider Buying and Selling

In other Xcel Energy news, Director Devin W. Stockfish purchased 2,170 shares of Xcel Energy stock in a transaction on Tuesday, March 11th. The shares were purchased at an average cost of $68.93 per share, with a total value of $149,578.10. Following the completion of the transaction, the director now directly owns 3,007 shares in the company, valued at approximately $207,272.51. This represents a 259.26 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.09% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently commented on XEL. 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. UBS Group upped their price target on shares of Xcel Energy from $73.00 to $77.00 and gave the company a "neutral" rating in a report on Tuesday, April 1st. Morgan Stanley raised their price objective on shares of Xcel Energy from $75.00 to $78.00 and gave the stock an "equal weight" rating in a research note on Thursday, March 20th. Barclays upped their target price on Xcel Energy from $69.00 to $72.00 and gave the company an "overweight" rating in a research note on Monday, March 31st. Finally, JPMorgan Chase & Co. raised Xcel Energy from a "neutral" rating to an "overweight" rating and boosted their price target for the stock from $69.00 to $80.00 in a report on Thursday, December 12th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $73.00.

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.