Burkehill Global Management LP Purchases Shares of 1,000,000 Xcel Energy Inc. (NASDAQ:XEL)

Burkehill Global Management LP acquired a new position in shares of Xcel Energy Inc. (NASDAQ:XEL) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 1,000,000 shares of the company’s stock, valued at approximately $67,520,000. Xcel Energy accounts for about 6.5% of Burkehill Global Management LP’s portfolio, making the stock its 3rd largest position. Burkehill Global Management LP owned 0.17% of Xcel Energy as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. State Street Corp lifted its stake in shares of Xcel Energy by 6.7% in the 3rd 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 in the last quarter. Brookfield Corp ON boosted its stake in shares of Xcel Energy by 520.1% in the third quarter. Brookfield Corp ON now owns 2,509,031 shares of the company’s stock valued at $163,840,000 after purchasing an additional 2,104,405 shares during the period. Raymond James Financial Inc. purchased a new stake in Xcel Energy during the 4th quarter worth $83,653,000. Reaves W H & Co. Inc. lifted its holdings in Xcel Energy by 440.2% in the 4th quarter. Reaves W H & Co. Inc. now owns 1,455,927 shares of the company’s stock worth $98,304,000 after buying an additional 1,186,427 shares in the last quarter. Finally, Merewether Investment Management LP purchased a new position in Xcel Energy in the 3rd quarter valued at about $64,301,000. 78.38% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Xcel Energy

In related 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 acquired at an average price of $68.93 per share, with a total value of $149,578.10. Following the completion of the acquisition, the director now directly owns 3,007 shares of the company’s stock, valued at $207,272.51. This trade represents a 259.26 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.09% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on XEL shares. Barclays reduced their target price on Xcel Energy from $71.00 to $69.00 and set an “overweight” rating for the company in a research note on Wednesday, January 22nd. JPMorgan Chase & Co. raised Xcel Energy from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $69.00 to $80.00 in a report on Thursday, December 12th. Morgan Stanley reduced their target price on Xcel Energy from $74.00 to $72.00 and set an “equal weight” rating on the stock in a report on Friday, November 22nd. KeyCorp lifted their target price 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 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. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $71.10.

Xcel Energy Price Performance

Shares of NASDAQ XEL opened at $68.85 on Thursday. 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 firm has a market capitalization of $39.56 billion, a PE ratio of 20.01, a P/E/G ratio of 2.62 and a beta of 0.37. Xcel Energy Inc. has a 1-year low of $50.76 and a 1-year high of $73.38. The business’s fifty day moving average price is $67.65 and its two-hundred day moving average price is $66.64.

Xcel Energy (NASDAQ:XEL) last released 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%. On average, research analysts expect that Xcel Energy Inc. will post 3.82 EPS for the current year.

Xcel Energy Increases Dividend

The firm 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 represents a $2.28 dividend on an annualized basis and a dividend yield of 3.31%. The ex-dividend date of this dividend is Friday, March 14th. This is a boost from Xcel Energy’s previous quarterly dividend of $0.55. Xcel Energy’s payout ratio is 66.28%.

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.