HBK Sorce Advisory LLC Increases Position in Xcel Energy Inc. (NASDAQ:XEL)

HBK Sorce Advisory LLC increased its stake in Xcel Energy Inc. (NASDAQ:XEL) by 29.5% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,903 shares of the company’s stock after acquiring an additional 1,344 shares during the period. HBK Sorce Advisory LLC’s holdings in Xcel Energy were worth $399,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in XEL. State Street Corp grew its position in Xcel Energy by 6.7% in the third quarter. State Street Corp now owns 37,143,025 shares of the company’s stock worth $2,445,477,000 after acquiring an additional 2,323,448 shares in the last quarter. Brookfield Corp ON grew its position in Xcel Energy by 520.1% in 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 in the last quarter. Raymond James Financial Inc. purchased a new position in Xcel Energy in the fourth quarter worth $83,653,000. Reaves W H & Co. Inc. lifted its stake in Xcel Energy by 440.2% in the fourth quarter. Reaves W H & Co. Inc. now owns 1,455,927 shares of the company’s stock worth $98,304,000 after purchasing an additional 1,186,427 shares during the last quarter. Finally, Burkehill Global Management LP bought a new stake in Xcel Energy in the fourth quarter worth $67,520,000. 78.38% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Barclays lowered their price target 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 lowered their price target on shares of Xcel Energy from $74.00 to $72.00 and set an “equal weight” rating for the company in a research note on Friday, November 22nd. KeyCorp boosted their price target on shares of Xcel Energy from $74.00 to $79.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. JPMorgan Chase & Co. raised shares of 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 research note on Thursday, December 12th. Finally, Wells Fargo & Company upped their price objective 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. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $71.10.

Insider Activity

In other news, Director Devin W. Stockfish purchased 2,170 shares of the business’s stock in a transaction dated Tuesday, March 11th. The shares were purchased at an average price of $68.93 per share, for a total transaction of $149,578.10. Following the completion of the acquisition, the director now directly owns 3,007 shares in the company, valued at $207,272.51. This represents a 259.26 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.09% of the company’s stock.

Xcel Energy Price Performance

Shares of XEL opened at $69.75 on Friday. The stock has a market cap of $40.08 billion, a PE ratio of 20.28, a price-to-earnings-growth ratio of 2.62 and a beta of 0.37. 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 fifty-two week low of $51.37 and a fifty-two week high of $73.38. The firm’s 50-day simple moving average is $67.75 and its two-hundred day simple moving average is $66.71.

Xcel Energy (NASDAQ:XEL) last announced its quarterly earnings data on Thursday, February 6th. The company reported $0.81 earnings per share for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.06). Xcel Energy had a return on equity of 10.65% and a net margin of 14.40%. Analysts anticipate that Xcel Energy Inc. will post 3.82 earnings per share for the current fiscal year.

Xcel Energy Increases Dividend

The company also recently declared 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 is a boost from Xcel Energy’s previous quarterly dividend of $0.55. The ex-dividend date is Friday, March 14th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.27%. Xcel Energy’s dividend payout ratio is presently 66.28%.

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.