Xcel Energy Inc. (NASDAQ:XEL) Shares Sold by Magellan Asset Management Ltd

Magellan Asset Management Ltd trimmed its position in Xcel Energy Inc. (NASDAQ:XEL) by 36.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,400,124 shares of the company’s stock after selling 1,353,285 shares during the period. Xcel Energy makes up about 1.8% of Magellan Asset Management Ltd’s portfolio, making the stock its 25th largest holding. Magellan Asset Management Ltd owned 0.42% of Xcel Energy worth $162,056,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Edgestream Partners L.P. bought a new position in shares of Xcel Energy during the 3rd quarter valued at about $1,219,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Xcel Energy in the 3rd quarter valued at $127,000. Benjamin Edwards Inc. increased its stake in Xcel Energy by 48,200.0% in the 3rd quarter. Benjamin Edwards Inc. now owns 16,422 shares of the company’s stock worth $1,072,000 after purchasing an additional 16,388 shares in the last quarter. Ascent Group LLC acquired a new stake in Xcel Energy during the 3rd quarter worth about $323,000. Finally, Holocene Advisors LP lifted its stake in Xcel Energy by 9.2% during the third quarter. Holocene Advisors LP now owns 83,910 shares of the company’s stock valued at $5,479,000 after buying an additional 7,061 shares in the last quarter. 78.38% of the stock is owned by institutional investors.

Xcel Energy Trading Up 0.3 %

Shares of XEL stock opened at $70.90 on Thursday. The firm has a market capitalization of $40.74 billion, a P/E ratio of 20.61, a price-to-earnings-growth ratio of 2.62 and a beta of 0.37. Xcel Energy Inc. has a 1 year low of $51.97 and a 1 year high of $73.38. The firm’s fifty day simple moving average is $68.81 and its 200 day simple moving average is $67.39. The company has a current ratio of 0.93, a quick ratio of 0.82 and a debt-to-equity ratio of 1.42.

Xcel Energy (NASDAQ:XEL) last announced its quarterly earnings data 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%. As a group, sell-side analysts predict that Xcel Energy Inc. will post 3.82 EPS for the current year.

Xcel Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, April 20th. Shareholders of record on Friday, March 14th will be issued a dividend of $0.57 per share. The ex-dividend date is Friday, March 14th. This is a boost from Xcel Energy’s previous quarterly dividend of $0.55. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.22%. Xcel Energy’s dividend payout ratio (DPR) is presently 66.28%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on XEL. JPMorgan Chase & Co. raised shares of Xcel Energy from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $69.00 to $80.00 in a research note on Thursday, December 12th. Barclays upped their price target on Xcel Energy from $69.00 to $72.00 and gave the company an “overweight” rating in a research report on Monday. UBS Group lifted their target price on Xcel Energy from $73.00 to $77.00 and gave the company a “neutral” rating in a research note on Tuesday. Morgan Stanley increased their price target 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, KeyCorp boosted their price objective on shares of Xcel Energy from $74.00 to $79.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, Xcel Energy currently has a consensus rating of “Moderate Buy” and an average target price of $73.00.

Insider Transactions at Xcel Energy

In other Xcel Energy news, Director Devin W. Stockfish purchased 2,170 shares of the firm’s stock in a transaction that occurred on Tuesday, March 11th. The shares were acquired at an average cost of $68.93 per share, for a total transaction of $149,578.10. Following the transaction, the director now directly owns 3,007 shares in the company, valued at approximately $207,272.51. The trade was a 259.26 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. 0.09% of the stock is owned by insiders.

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.