Allstate Corp Invests $1.13 Million in Xcel Energy Inc. (NASDAQ:XEL)

Allstate Corp bought a new stake in Xcel Energy Inc. (NASDAQ:XEL) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 16,794 shares of the company’s stock, valued at approximately $1,134,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Hodges Capital Management Inc. raised its position in Xcel Energy by 447.1% during the fourth quarter. Hodges Capital Management Inc. now owns 51,396 shares of the company’s stock valued at $3,470,000 after purchasing an additional 42,001 shares during the period. Nomura Asset Management Co. Ltd. increased its position in shares of Xcel Energy by 7.0% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 189,954 shares of the company’s stock valued at $12,404,000 after purchasing an additional 12,477 shares during the last quarter. Atomi Financial Group Inc. purchased a new stake in Xcel Energy during the 4th quarter valued at $278,000. GEN Financial Management INC. bought a new stake in Xcel Energy in the fourth quarter worth $301,000. Finally, Oak Thistle LLC purchased a new position in Xcel Energy during the fourth quarter worth $1,433,000. 78.38% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently issued reports on XEL. KeyCorp raised their target price on shares of Xcel Energy from $74.00 to $79.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. UBS Group raised their price objective on shares of Xcel Energy from $70.00 to $73.00 and gave the stock a “neutral” rating in a research note on Friday, March 21st. Barclays cut their target price on Xcel Energy from $71.00 to $69.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 22nd. JPMorgan Chase & Co. raised Xcel Energy from a “neutral” rating to an “overweight” rating and raised 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 Xcel Energy from $72.00 to $75.00 and gave the company an “overweight” rating in a research report on Friday, February 7th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Xcel Energy has a consensus rating of “Moderate Buy” and a consensus price target of $72.30.

Xcel Energy Stock Up 0.6 %

Shares of Xcel Energy stock opened at $69.72 on Monday. 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 market cap of $40.06 billion, a price-to-earnings ratio of 20.27, a PEG ratio of 2.62 and a beta of 0.37. The firm’s 50-day moving average is $68.59 and its two-hundred day moving average is $67.27. Xcel Energy Inc. has a 1 year low of $51.97 and a 1 year high of $73.38.

Xcel Energy (NASDAQ:XEL) last issued its quarterly earnings data 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, research analysts expect that Xcel Energy Inc. will post 3.82 earnings per share for the current fiscal year.

Xcel Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, April 20th. Stockholders of record on Friday, March 14th will be given a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 3.27%. This is a positive change from Xcel Energy’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend is Friday, March 14th. Xcel Energy’s payout ratio is presently 66.28%.

Insider Activity at Xcel Energy

In other news, Director Devin W. Stockfish acquired 2,170 shares of Xcel Energy stock in a transaction that occurred on Tuesday, March 11th. The stock was purchased at an average price of $68.93 per share, for a total transaction of $149,578.10. Following the purchase, the director now directly owns 3,007 shares in the company, valued at $207,272.51. The trade was a 259.26 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. 0.09% of the stock is owned by corporate insiders.

Xcel Energy 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.