Polymer Capital Management HK LTD Buys Shares of 6,243 Xcel Energy Inc. (NASDAQ:XEL)

Polymer Capital Management HK LTD purchased a new position in shares of Xcel Energy Inc. (NASDAQ:XEL) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 6,243 shares of the company’s stock, valued at approximately $422,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in XEL. Hodges Capital Management Inc. grew its holdings in Xcel Energy by 447.1% during the 4th quarter. Hodges Capital Management Inc. now owns 51,396 shares of the company’s stock worth $3,470,000 after acquiring an additional 42,001 shares in the last quarter. Nomura Asset Management Co. Ltd. grew its stake in Xcel Energy by 7.0% in the third quarter. Nomura Asset Management Co. Ltd. now owns 189,954 shares of the company’s stock worth $12,404,000 after purchasing an additional 12,477 shares in the last quarter. Atomi Financial Group Inc. bought a new stake in Xcel Energy in the fourth quarter valued at about $278,000. GEN Financial Management INC. acquired a new stake in Xcel Energy during the fourth quarter valued at approximately $301,000. Finally, Oak Thistle LLC bought a new position in Xcel Energy during the 4th quarter worth approximately $1,433,000. Institutional investors own 78.38% of the company’s stock.

Xcel Energy Stock Performance

Shares of NASDAQ XEL opened at $67.89 on Monday. Xcel Energy Inc. has a 12-month low of $51.97 and a 12-month high of $73.38. The company has a market cap of $39.01 billion, a PE ratio of 19.74, a P/E/G ratio of 2.62 and a beta of 0.39. The stock has a 50 day simple moving average of $68.96 and a 200-day simple moving average of $67.49. The company has a current ratio of 0.93, a quick ratio of 0.82 and a debt-to-equity ratio of 1.42.

Xcel Energy (NASDAQ:XEL) last announced its quarterly earnings results on Thursday, February 6th. The company reported $0.81 earnings per share (EPS) 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%. On average, equities research analysts forecast that Xcel Energy Inc. will post 3.82 EPS for the current year.

Xcel Energy Increases Dividend

The business also recently declared 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 dividend yield of 3.36%. This is an increase 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 66.28%.

Insider Transactions at Xcel Energy

In other news, Director Devin W. Stockfish acquired 2,170 shares of the company’s stock in a transaction dated Tuesday, March 11th. The shares were bought at an average price of $68.93 per share, with a total value of $149,578.10. Following the purchase, the director now owns 3,007 shares of the company’s stock, valued at approximately $207,272.51. This represents a 259.26 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.09% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Wells Fargo & Company upped their price target on Xcel Energy from $72.00 to $75.00 and gave the company an “overweight” rating in a research report on Friday, February 7th. Barclays increased their target price on shares of Xcel Energy from $69.00 to $72.00 and gave the stock an “overweight” rating in a report on Monday, March 31st. Morgan Stanley lifted their price target 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. 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 research note on Tuesday, April 1st. Finally, JPMorgan Chase & Co. upgraded Xcel Energy from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $69.00 to $80.00 in a research note on Thursday, December 12th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus 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.