Horizon Investments LLC Acquires 198 Shares of Xcel Energy Inc. (NASDAQ:XEL)

Horizon Investments LLC boosted its holdings in Xcel Energy Inc. (NASDAQ:XEL) by 1.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,390 shares of the company’s stock after purchasing an additional 198 shares during the period. Horizon Investments LLC’s holdings in Xcel Energy were worth $696,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. State Street Corp lifted 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 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 third quarter. Brookfield Corp ON now owns 2,509,031 shares of the company’s stock worth $163,840,000 after buying an additional 2,104,405 shares during the period. Raymond James Financial Inc. bought a new stake in Xcel Energy during the 4th quarter valued at $83,653,000. Reaves W H & Co. Inc. boosted its position in Xcel Energy by 440.2% during the 4th quarter. Reaves W H & Co. Inc. now owns 1,455,927 shares of the company’s stock valued at $98,304,000 after buying an additional 1,186,427 shares during the period. Finally, Burkehill Global Management LP bought a new stake in Xcel Energy in the 4th quarter worth $67,520,000. 78.38% of the stock is currently owned by hedge funds and other institutional investors.

Xcel Energy Price Performance

Shares of XEL stock opened at $70.24 on Thursday. The company has a quick ratio of 0.82, a current ratio of 0.93 and a debt-to-equity ratio of 1.42. The stock has a market cap of $40.36 billion, a price-to-earnings ratio of 20.42, a PEG ratio of 2.62 and a beta of 0.37. The business’s fifty day moving average is $68.02 and its 200 day moving average is $66.94. Xcel Energy Inc. has a twelve month low of $51.58 and a twelve month high of $73.38.

Xcel Energy (NASDAQ:XEL) last issued its quarterly earnings results 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 return on equity of 10.65% and a net margin of 14.40%. Research analysts expect that Xcel Energy Inc. will post 3.82 EPS for the current fiscal year.

Xcel Energy Increases Dividend

The firm also recently announced 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 annualized dividend and a dividend yield of 3.25%. 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 dividend payout ratio (DPR) is presently 66.28%.

Insider Transactions at Xcel Energy

In other news, Director Devin W. Stockfish bought 2,170 shares of the company’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 purchase, the director now owns 3,007 shares in the company, valued at approximately $207,272.51. This represents a 259.26 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.09% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on XEL. Barclays lowered their price objective 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. KeyCorp upped their price target on Xcel Energy from $74.00 to $79.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. JPMorgan Chase & Co. upgraded Xcel Energy from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $69.00 to $80.00 in a research report on Thursday, December 12th. Wells Fargo & Company upped their target price on Xcel Energy from $72.00 to $75.00 and gave the company an “overweight” rating in a report on Friday, February 7th. Finally, Morgan Stanley cut their price target on shares of Xcel Energy from $74.00 to $72.00 and set an “equal weight” rating on the stock in a report on Friday, November 22nd. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $71.10.

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.