New York Life Investment Management LLC Grows Stake in Xcel Energy Inc. (NASDAQ:XEL)

New York Life Investment Management LLC grew its holdings in Xcel Energy Inc. (NASDAQ:XEL) by 3.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 76,735 shares of the company’s stock after purchasing an additional 2,778 shares during the period. New York Life Investment Management LLC’s holdings in Xcel Energy were worth $5,181,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of XEL. AMF Tjanstepension AB raised its position in shares of Xcel Energy by 185.2% in the third quarter. AMF Tjanstepension AB now owns 34,960 shares of the company’s stock valued at $2,283,000 after purchasing an additional 22,701 shares during the period. abrdn plc increased its holdings in Xcel Energy by 23.0% during the 3rd quarter. abrdn plc now owns 180,593 shares of the company’s stock worth $11,756,000 after acquiring an additional 33,752 shares during the period. Fidelis Capital Partners LLC bought a new stake in Xcel Energy during the 3rd quarter worth approximately $212,000. First Trust Direct Indexing L.P. increased its holdings in Xcel Energy by 41.7% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 13,327 shares of the company’s stock worth $870,000 after acquiring an additional 3,923 shares during the period. Finally, Financial Advocates Investment Management increased its holdings in Xcel Energy by 7.4% during the 3rd quarter. Financial Advocates Investment Management now owns 10,251 shares of the company’s stock worth $669,000 after acquiring an additional 710 shares during the period. Institutional investors own 78.38% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. KeyCorp increased their price target on shares of Xcel Energy from $74.00 to $79.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Wells Fargo & Company increased their price target on shares of Xcel Energy from $72.00 to $75.00 and gave the stock an “overweight” rating in a report on Friday, February 7th. Jefferies Financial Group raised shares of Xcel Energy from a “hold” rating to a “buy” rating and increased their price target for the stock from $71.00 to $76.00 in a report on Friday, November 1st. Barclays decreased their price target on shares of Xcel Energy from $71.00 to $69.00 and set an “overweight” rating on the stock in a report on Wednesday, January 22nd. Finally, Morgan Stanley decreased 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 investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, Xcel Energy currently has a consensus rating of “Moderate Buy” and an average target price of $69.91.

Xcel Energy Price Performance

XEL stock opened at $72.10 on Friday. The firm has a market cap of $41.40 billion, a P/E ratio of 20.96, a P/E/G ratio of 2.62 and a beta of 0.43. Xcel Energy Inc. has a 52 week low of $46.79 and a 52 week high of $73.38. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.82 and a current ratio of 0.93. The firm’s fifty day moving average is $67.45 and its 200 day moving average is $66.07.

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%. Research analysts predict that Xcel Energy Inc. will post 3.82 earnings per share for the current year.

Xcel Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, April 20th. Shareholders of record on Friday, March 14th will be issued a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 3.16%. The ex-dividend date of this dividend is Friday, March 14th. This is a positive change from Xcel Energy’s previous quarterly dividend of $0.55. Xcel Energy’s dividend payout ratio (DPR) is 63.66%.

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.