Summit Investment Advisors Inc. Has $3.47 Million Position in Xcel Energy Inc. (NASDAQ:XEL)

Summit Investment Advisors Inc. raised its position in Xcel Energy Inc. (NASDAQ:XEL) by 2.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 51,434 shares of the company’s stock after buying an additional 1,356 shares during the quarter. Summit Investment Advisors Inc.’s holdings in Xcel Energy were worth $3,473,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Xcel Energy by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 73,831,988 shares of the company’s stock valued at $4,985,136,000 after acquiring an additional 953,002 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Xcel Energy by 5.6% in the 4th quarter. JPMorgan Chase & Co. now owns 19,291,149 shares of the company’s stock valued at $1,302,538,000 after purchasing an additional 1,022,194 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in Xcel Energy by 15.9% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 17,613,239 shares of the company’s stock valued at $1,189,246,000 after purchasing an additional 2,422,483 shares during the period. Geode Capital Management LLC grew its position in shares of Xcel Energy by 4.2% during the 4th quarter. Geode Capital Management LLC now owns 15,178,956 shares of the company’s stock worth $1,029,223,000 after purchasing an additional 616,853 shares in the last quarter. Finally, FMR LLC increased its holdings in shares of Xcel Energy by 118.3% during the fourth quarter. FMR LLC now owns 6,608,044 shares of the company’s stock worth $446,175,000 after purchasing an additional 3,581,436 shares during the period. Institutional investors own 78.38% of the company’s stock.

Wall Street Analyst Weigh In

XEL has been the topic of a number of analyst reports. UBS Group increased their price target on Xcel Energy from $73.00 to $77.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 1st. Barclays raised their price target on Xcel Energy from $69.00 to $72.00 and gave the stock an “overweight” rating in a research report on Monday, March 31st. Morgan Stanley upped their price objective on shares of Xcel Energy from $75.00 to $78.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 20th. Finally, Wells Fargo & Company increased their price objective on shares of Xcel Energy from $72.00 to $75.00 and gave the stock an “overweight” rating in a research note on Friday, February 7th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $73.00.

Xcel Energy Price Performance

Shares of NASDAQ:XEL opened at $69.56 on Monday. Xcel Energy Inc. has a one year low of $51.97 and a one year high of $73.38. 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 company has a market cap of $39.97 billion, a price-to-earnings ratio of 20.22, a PEG ratio of 2.62 and a beta of 0.39. The firm has a 50 day simple moving average of $69.09 and a 200 day simple moving average of $67.66.

Xcel Energy (NASDAQ:XEL) last announced its quarterly earnings results on Thursday, February 6th. The company reported $0.81 EPS for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.06). Xcel Energy had a net margin of 14.40% and a return on equity of 10.65%. Research analysts predict that Xcel Energy Inc. will post 3.82 earnings per share for the current fiscal year.

Xcel Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, April 20th. Stockholders of record on Friday, March 14th will be paid a $0.57 dividend. The ex-dividend date is Friday, March 14th. This represents a $2.28 annualized dividend and a dividend yield of 3.28%. This is an increase from Xcel Energy’s previous quarterly dividend of $0.55. Xcel Energy’s dividend payout ratio is currently 66.28%.

Insider Activity at Xcel Energy

In related news, Director Devin W. Stockfish acquired 2,170 shares of the firm’s stock in a transaction that occurred on Tuesday, March 11th. The stock was acquired at an average cost of $68.93 per share, for a total transaction 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 approximately $207,272.51. This trade represents a 259.26 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. 0.09% of the stock is owned by company insiders.

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.