Xcel Energy Inc. (NASDAQ:XEL) Shares Acquired by Carlson Capital Management

Carlson Capital Management grew its position in Xcel Energy Inc. (NASDAQ:XEL) by 25.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,837 shares of the company’s stock after purchasing an additional 986 shares during the period. Carlson Capital Management’s holdings in Xcel Energy were worth $327,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Mystic Asset Management Inc. acquired a new position in shares of Xcel Energy in the 4th quarter valued at about $226,000. Flagship Wealth Advisors LLC acquired a new position in Xcel Energy during the 4th quarter worth approximately $86,000. Parallel Advisors LLC lifted its position in Xcel Energy by 36.5% during the 4th quarter. Parallel Advisors LLC now owns 4,928 shares of the company’s stock worth $333,000 after acquiring an additional 1,318 shares in the last quarter. Cibc World Markets Corp lifted its position in Xcel Energy by 16.8% during the 4th quarter. Cibc World Markets Corp now owns 102,594 shares of the company’s stock worth $6,927,000 after acquiring an additional 14,779 shares in the last quarter. Finally, SouthState Corp lifted its position in Xcel Energy by 5.3% during the 4th quarter. SouthState Corp now owns 4,382 shares of the company’s stock worth $296,000 after acquiring an additional 219 shares in the last quarter. 78.38% of the stock is owned by institutional investors and hedge funds.

Xcel Energy Price Performance

Shares of NASDAQ XEL opened at $69.96 on Tuesday. Xcel Energy Inc. has a twelve month low of $51.37 and a twelve month high of $73.38. 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 company has a market capitalization of $40.20 billion, a price-to-earnings ratio of 20.34, a price-to-earnings-growth ratio of 2.62 and a beta of 0.37. The business has a 50 day simple moving average of $67.85 and a 200-day simple moving average of $66.86.

Xcel Energy (NASDAQ:XEL) last released its quarterly earnings data 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 net margin of 14.40% and a return on equity of 10.65%. As a group, equities research analysts expect that Xcel Energy Inc. will post 3.82 earnings per share 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 given a dividend of $0.57 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $2.28 dividend on an annualized basis and a yield of 3.26%. This is a positive change from Xcel Energy’s previous quarterly dividend of $0.55. Xcel Energy’s payout ratio is currently 66.28%.

Insider Activity at Xcel Energy

In other Xcel Energy news, Director Devin W. Stockfish purchased 2,170 shares of Xcel Energy stock in a transaction on Tuesday, March 11th. The stock was bought at an average price of $68.93 per share, for a total transaction of $149,578.10. Following the transaction, the director now owns 3,007 shares of the company’s stock, valued at $207,272.51. The trade was a 259.26 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.09% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on XEL. Morgan Stanley reduced their price target on Xcel Energy from $74.00 to $72.00 and set an “equal weight” rating on the stock in a research report on Friday, November 22nd. KeyCorp boosted their price target on Xcel Energy from $74.00 to $79.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Wells Fargo & Company boosted their price target on Xcel Energy from $72.00 to $75.00 and gave the stock an “overweight” rating in a research report on Friday, February 7th. Barclays reduced 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. Finally, JPMorgan Chase & Co. upgraded Xcel Energy from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $69.00 to $80.00 in a report on Thursday, December 12th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, Xcel Energy has a consensus rating of “Moderate Buy” and a consensus price target of $71.10.

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.