HB Wealth Management LLC Boosts Stake in Xcel Energy Inc. (NASDAQ:XEL)

HB Wealth Management LLC boosted its holdings in shares of Xcel Energy Inc. (NASDAQ:XEL) by 52.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,073 shares of the company’s stock after acquiring an additional 5,213 shares during the period. HB Wealth Management LLC’s holdings in Xcel Energy were worth $1,018,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of XEL. State Street Corp increased its holdings in shares of Xcel Energy by 6.7% in the third quarter. State Street Corp now owns 37,143,025 shares of the company’s stock valued at $2,445,477,000 after purchasing an additional 2,323,448 shares during the last quarter. Brookfield Corp ON increased its stake in shares of Xcel Energy by 520.1% in the 3rd 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 during the last quarter. Merewether Investment Management LP purchased a new position in shares of Xcel Energy during the 3rd quarter worth $64,301,000. Massachusetts Financial Services Co. MA boosted its position in shares of Xcel Energy by 6.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 15,190,756 shares of the company’s stock valued at $991,956,000 after acquiring an additional 892,740 shares during the last quarter. Finally, Janus Henderson Group PLC grew its holdings in shares of Xcel Energy by 1,265.6% in the third quarter. Janus Henderson Group PLC now owns 839,146 shares of the company’s stock valued at $54,797,000 after purchasing an additional 777,696 shares during the period. 78.38% of the stock is owned by hedge funds and other institutional investors.

Xcel Energy Stock Performance

Shares of XEL stock opened at $67.68 on Wednesday. The firm has a 50 day moving average of $68.37 and a two-hundred day moving average of $63.75. The stock has a market capitalization of $38.86 billion, a PE ratio of 20.08, a P/E/G ratio of 2.53 and a beta of 0.42. 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 Inc. has a 52 week low of $46.79 and a 52 week high of $73.38.

Xcel Energy (NASDAQ:XEL) last released its earnings results on Thursday, October 31st. The company reported $1.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.01). The company had revenue of $3.64 billion during the quarter, compared to analysts’ expectations of $3.93 billion. Xcel Energy had a net margin of 13.67% and a return on equity of 10.76%. The company’s revenue for the quarter was down .5% on a year-over-year basis. During the same quarter last year, the business posted $1.23 earnings per share. On average, research analysts predict that Xcel Energy Inc. will post 3.54 EPS for the current fiscal year.

Xcel Energy Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 29th. Investors of record on Monday, January 6th will be issued a $0.5475 dividend. The ex-dividend date is Monday, January 6th. This represents a $2.19 annualized dividend and a yield of 3.24%. Xcel Energy’s dividend payout ratio (DPR) is 64.99%.

Analyst Ratings Changes

Several equities analysts have weighed in on XEL shares. JPMorgan Chase & Co. upgraded shares of Xcel Energy from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $69.00 to $80.00 in a report on Thursday, December 12th. Jefferies Financial Group upgraded Xcel Energy from a “hold” rating to a “buy” rating and increased their price objective for the stock from $71.00 to $76.00 in a research report on Friday, November 1st. Morgan Stanley decreased their price target on Xcel Energy from $74.00 to $72.00 and set an “equal weight” rating on the stock in a research note on Friday, November 22nd. KeyCorp raised their price objective on Xcel Energy from $74.00 to $79.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Finally, Wells Fargo & Company raised shares of Xcel Energy from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $70.00 to $72.00 in a research report on Monday, January 13th. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $69.67.

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.