Bank of Nova Scotia Increases Stock Holdings in Xcel Energy Inc. (NASDAQ:XEL)

Bank of Nova Scotia raised its holdings in Xcel Energy Inc. (NASDAQ:XEL) by 191.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 228,242 shares of the company’s stock after buying an additional 149,898 shares during the quarter. Bank of Nova Scotia’s holdings in Xcel Energy were worth $15,411,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Dakota Wealth Management raised its holdings in shares of Xcel Energy by 0.7% during the fourth quarter. Dakota Wealth Management now owns 23,130 shares of the company’s stock worth $1,562,000 after purchasing an additional 151 shares during the last quarter. Rothschild Investment LLC raised its stake in shares of Xcel Energy by 26.0% during the 4th quarter. Rothschild Investment LLC now owns 731 shares of the company’s stock valued at $49,000 after buying an additional 151 shares during the last quarter. GenTrust LLC lifted its holdings in shares of Xcel Energy by 4.5% in the 4th quarter. GenTrust LLC now owns 3,602 shares of the company’s stock valued at $243,000 after buying an additional 155 shares during the period. Creative Financial Designs Inc. ADV boosted its stake in shares of Xcel Energy by 23.2% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 827 shares of the company’s stock worth $56,000 after buying an additional 156 shares during the last quarter. Finally, Integris Wealth Management LLC grew its holdings in Xcel Energy by 2.6% during the fourth quarter. Integris Wealth Management LLC now owns 6,323 shares of the company’s stock worth $427,000 after acquiring an additional 160 shares during the period. Institutional investors and hedge funds own 78.38% of the company’s stock.

Insiders Place Their Bets

In related news, Director Devin W. Stockfish bought 2,170 shares of Xcel Energy stock in a transaction that occurred on Tuesday, March 11th. The shares were purchased at an average price of $68.93 per share, with a total value of $149,578.10. Following the purchase, the director now owns 3,007 shares in the company, valued at $207,272.51. This represents a 259.26 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.09% of the stock is currently owned by company insiders.

Xcel Energy Stock Performance

Shares of XEL stock opened at $68.41 on Friday. The stock’s 50-day moving average price is $69.05 and its 200 day moving average price is $67.60. 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 capitalization of $39.31 billion, a PE ratio of 19.89, a price-to-earnings-growth ratio of 2.62 and a beta of 0.39. Xcel Energy Inc. has a 52-week low of $51.97 and a 52-week high of $73.38.

Xcel Energy (NASDAQ:XEL) last issued its earnings results on Thursday, February 6th. The company reported $0.81 earnings per share for the quarter, missing the consensus estimate 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, equities research analysts forecast 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. Investors 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 represents a $2.28 dividend on an annualized basis and a yield of 3.33%. This is an increase from Xcel Energy’s previous quarterly dividend of $0.55. Xcel Energy’s payout ratio is currently 66.28%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on XEL shares. JPMorgan Chase & Co. raised shares of Xcel Energy from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $69.00 to $80.00 in a research note on Thursday, December 12th. Barclays raised their price target on shares of Xcel Energy from $69.00 to $72.00 and gave the company an “overweight” rating in a research report on Monday, March 31st. Wells Fargo & Company upped their price objective on shares of Xcel Energy from $72.00 to $75.00 and gave the stock an “overweight” rating in a research report on Friday, February 7th. UBS Group raised their target price on Xcel Energy from $73.00 to $77.00 and gave the company a “neutral” rating in a research report on Tuesday, April 1st. Finally, Morgan Stanley upped their price target on Xcel Energy from $75.00 to $78.00 and gave the stock an “equal weight” rating in a report on Thursday, March 20th. Three 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.com, Xcel Energy has a consensus rating of “Moderate Buy” and a consensus price target of $73.00.

Xcel Energy 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.