Magellan Asset Management Ltd Sells 1,353,285 Shares of Xcel Energy Inc. (NASDAQ:XEL)

Magellan Asset Management Ltd lowered its stake in Xcel Energy Inc. (NASDAQ:XEL - Free Report) by 36.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,400,124 shares of the company's stock after selling 1,353,285 shares during the quarter. Xcel Energy makes up approximately 1.8% of Magellan Asset Management Ltd's investment portfolio, making the stock its 25th largest position. Magellan Asset Management Ltd owned approximately 0.42% of Xcel Energy worth $162,056,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in XEL. Pictet Asset Management Holding SA lifted its holdings in Xcel Energy by 236.7% during the 4th quarter. Pictet Asset Management Holding SA now owns 4,878,279 shares of the company's stock valued at $329,381,000 after purchasing an additional 3,429,353 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of Xcel Energy by 15.9% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 17,613,239 shares of the company's stock worth $1,189,246,000 after buying an additional 2,422,483 shares during the period. State Street Corp boosted its holdings in shares of Xcel Energy by 6.7% during the 3rd quarter. State Street Corp now owns 37,143,025 shares of the company's stock worth $2,445,477,000 after buying an additional 2,323,448 shares during the period. Brookfield Corp ON grew its stake in Xcel Energy by 520.1% in the 3rd quarter. Brookfield Corp ON now owns 2,509,031 shares of the company's stock valued at $163,840,000 after buying an additional 2,104,405 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in Xcel Energy in the 4th quarter valued at about $83,653,000. 78.38% of the stock is owned by institutional investors.

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Wall Street Analyst Weigh In

Several equities analysts have recently commented on XEL shares. JPMorgan Chase & Co. raised Xcel Energy from a "neutral" rating to an "overweight" rating and upped their target price for the company from $69.00 to $80.00 in a research report on Thursday, December 12th. Barclays upped their price objective on Xcel Energy from $69.00 to $72.00 and gave the company an "overweight" rating in a report on Monday, March 31st. UBS Group lifted their target price on Xcel Energy from $73.00 to $77.00 and gave the stock a "neutral" rating in a report on Tuesday, April 1st. Wells Fargo & Company upped their price target on shares of Xcel Energy from $72.00 to $75.00 and gave the company an "overweight" rating in a research note on Friday, February 7th. Finally, Morgan Stanley boosted 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. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $73.00.

Xcel Energy Price Performance

NASDAQ:XEL traded up $2.08 during trading hours on Tuesday, hitting $69.14. The company's stock had a trading volume of 1,763,422 shares, compared to its average volume of 3,571,767. Xcel Energy Inc. has a twelve month low of $51.97 and a twelve month high of $73.38. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.93 and a quick ratio of 0.82. The stock has a fifty day simple moving average of $68.94 and a 200-day simple moving average of $67.51. The company has a market capitalization of $39.72 billion, a P/E ratio of 20.08, a PEG ratio of 2.62 and a beta of 0.39.

Xcel Energy (NASDAQ:XEL - Get Free Report) last issued its quarterly earnings data on Thursday, February 6th. The company reported $0.81 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%. On average, analysts anticipate that Xcel Energy Inc. will post 3.82 EPS for the current fiscal year.

Xcel Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, April 20th. Shareholders of record on Friday, March 14th will be given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 3.30%. The ex-dividend date is Friday, March 14th. This is an increase from Xcel Energy's previous quarterly dividend of $0.55. Xcel Energy's dividend payout ratio is currently 66.28%.

Insider Activity at Xcel Energy

In related news, Director Devin W. Stockfish acquired 2,170 shares of the firm's stock in a transaction on Tuesday, March 11th. The stock was purchased at an average cost of $68.93 per share, with a total value of $149,578.10. Following the acquisition, the director now owns 3,007 shares of the company's stock, valued at approximately $207,272.51. This trade represents a 259.26 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.09% of the stock is owned by corporate insiders.

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.