Citizens Financial Group Inc. RI Takes Position in Xcel Energy Inc. (NASDAQ:XEL)

Citizens Financial Group Inc. RI bought a new position in shares of Xcel Energy Inc. (NASDAQ:XEL) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 3,151 shares of the company’s stock, valued at approximately $213,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. State Street Corp increased its position in shares of Xcel Energy by 6.7% during the 3rd quarter. State Street Corp now owns 37,143,025 shares of the company’s stock worth $2,445,477,000 after purchasing an additional 2,323,448 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of Xcel Energy by 6.2% in the third quarter. Massachusetts Financial Services Co. MA now owns 15,190,756 shares of the company’s stock valued at $991,956,000 after buying an additional 892,740 shares in the last quarter. Geode Capital Management LLC increased its holdings in Xcel Energy by 1.8% during the third quarter. Geode Capital Management LLC now owns 14,562,103 shares of the company’s stock worth $952,091,000 after buying an additional 262,191 shares during the last quarter. Bank of New York Mellon Corp raised its position in Xcel Energy by 0.3% during the fourth quarter. Bank of New York Mellon Corp now owns 3,777,002 shares of the company’s stock worth $255,023,000 after acquiring an additional 11,529 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Xcel Energy by 6.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,625,848 shares of the company’s stock worth $244,817,000 after acquiring an additional 208,233 shares in the last quarter. Institutional investors own 78.38% of the company’s stock.

Insider Transactions at Xcel Energy

In related news, Director Devin W. Stockfish bought 2,170 shares of Xcel Energy stock in a transaction dated Tuesday, March 11th. The shares were bought at an average cost of $68.93 per share, with a total value of $149,578.10. Following the acquisition, the director now owns 3,007 shares in the company, valued at $207,272.51. This trade represents a 259.26 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders own 0.09% of the company’s stock.

Xcel Energy Stock Performance

NASDAQ:XEL opened at $69.75 on Friday. The company has a current ratio of 0.93, a quick ratio of 0.82 and a debt-to-equity ratio of 1.42. The stock has a 50 day simple moving average of $67.75 and a 200 day simple moving average of $66.71. Xcel Energy Inc. has a 1-year low of $51.37 and a 1-year high of $73.38. The stock has a market cap of $40.08 billion, a P/E ratio of 20.28, a PEG ratio of 2.62 and a beta of 0.37.

Xcel Energy (NASDAQ:XEL) last posted its earnings results 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%. Research analysts anticipate that Xcel Energy Inc. will post 3.82 earnings per share for the current year.

Xcel Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Sunday, April 20th. Shareholders of record on Friday, March 14th will be given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.27%. The ex-dividend date 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 is presently 66.28%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Morgan Stanley lowered their price objective on shares of 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. Barclays lowered their price target on Xcel Energy from $71.00 to $69.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 22nd. JPMorgan Chase & Co. raised Xcel Energy from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $69.00 to $80.00 in a research report on Thursday, December 12th. Wells Fargo & Company lifted their target price on Xcel Energy from $72.00 to $75.00 and gave the stock an “overweight” rating in a research note on Friday, February 7th. Finally, KeyCorp increased their price target on Xcel Energy from $74.00 to $79.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, Xcel Energy presently has an average rating of “Moderate Buy” and an average price target 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.