Sterling Capital Management LLC Purchases 12,822 Shares of Xcel Energy Inc. (NASDAQ:XEL)

Sterling Capital Management LLC grew its holdings in Xcel Energy Inc. (NASDAQ:XEL - Free Report) by 60.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 34,160 shares of the company's stock after purchasing an additional 12,822 shares during the quarter. Sterling Capital Management LLC's holdings in Xcel Energy were worth $2,306,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Heritage Trust Co purchased a new stake in shares of Xcel Energy during the fourth quarter worth about $418,000. Treasurer of the State of North Carolina grew its stake in Xcel Energy by 3.9% in the 4th quarter. Treasurer of the State of North Carolina now owns 391,107 shares of the company's stock worth $26,408,000 after acquiring an additional 14,782 shares during the period. Legacy Financial Advisors Inc. raised its holdings in Xcel Energy by 7.8% in the 4th quarter. Legacy Financial Advisors Inc. now owns 5,682 shares of the company's stock valued at $384,000 after acquiring an additional 413 shares during the last quarter. Bessemer Group Inc. lifted its stake in shares of Xcel Energy by 3.0% during the 4th quarter. Bessemer Group Inc. now owns 15,942 shares of the company's stock worth $1,076,000 after purchasing an additional 458 shares during the period. Finally, DRW Securities LLC boosted its holdings in shares of Xcel Energy by 566.0% during the fourth quarter. DRW Securities LLC now owns 173,600 shares of the company's stock worth $11,721,000 after purchasing an additional 147,532 shares during the last quarter. 78.38% of the stock is owned by hedge funds and other institutional investors.

Xcel Energy Stock Up 1.5 %

XEL stock traded up $1.03 during mid-day trading on Friday, reaching $70.13. 2,784,548 shares of the company traded hands, compared to its average volume of 3,587,282. The stock has a market cap of $40.40 billion, a price-to-earnings ratio of 20.39, a P/E/G ratio of 2.62 and a beta of 0.39. Xcel Energy Inc. has a fifty-two week low of $51.97 and a fifty-two week high of $73.38. The firm's 50 day moving average price is $69.32 and its 200 day moving average price is $67.76. 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 announced its earnings results on Thursday, February 6th. The company reported $0.81 earnings per share (EPS) 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%. As a group, equities research analysts predict 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. Investors of record on Friday, March 14th will be paid a dividend of $0.57 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $2.28 annualized dividend and a yield of 3.25%. This is a boost from Xcel Energy's previous quarterly dividend of $0.55. Xcel Energy's payout ratio is currently 66.28%.

Wall Street Analyst Weigh In

XEL has been the topic of several recent analyst reports. Wells Fargo & Company increased their target price on 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 increased their price objective on shares of Xcel Energy from $73.00 to $77.00 and gave the stock a "neutral" rating in a report on Tuesday, April 1st. Barclays boosted their target price on shares of Xcel Energy from $69.00 to $72.00 and gave the company an "overweight" rating in a report on Monday, March 31st. Finally, 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 note on Thursday, March 20th. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, Xcel Energy has a consensus rating of "Moderate Buy" and a consensus price target of $73.00.

Insiders Place Their Bets

In other news, Director Devin W. Stockfish bought 2,170 shares of the business's stock in a transaction on Tuesday, March 11th. The stock was acquired 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 directly owns 3,007 shares in the company, valued at $207,272.51. This represents a 259.26 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.09% of the company's stock.

About Xcel Energy

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.