Mystic Asset Management Inc. Takes Position in Xcel Energy Inc. (NASDAQ:XEL)

Mystic Asset Management Inc. bought a new stake in shares of Xcel Energy Inc. (NASDAQ:XEL) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 3,352 shares of the company’s stock, valued at approximately $226,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Flagship Wealth Advisors LLC purchased a new position in shares of Xcel Energy during the 4th quarter valued at approximately $86,000. Parallel Advisors LLC boosted its stake in shares of Xcel Energy by 36.5% during the 4th quarter. Parallel Advisors LLC now owns 4,928 shares of the company’s stock valued at $333,000 after buying an additional 1,318 shares during the last quarter. Cibc World Markets Corp boosted its stake in shares of Xcel Energy by 16.8% during the 4th quarter. Cibc World Markets Corp now owns 102,594 shares of the company’s stock valued at $6,927,000 after buying an additional 14,779 shares during the last quarter. SouthState Corp boosted its stake in shares of Xcel Energy by 5.3% during the 4th quarter. SouthState Corp now owns 4,382 shares of the company’s stock valued at $296,000 after buying an additional 219 shares during the last quarter. Finally, Creative Financial Designs Inc. ADV boosted its stake in shares of Xcel Energy by 23.2% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 827 shares of the company’s stock valued at $56,000 after buying an additional 156 shares during the last quarter. 78.38% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Xcel Energy

In related news, Director Devin W. Stockfish purchased 2,170 shares of the firm’s stock in a transaction that occurred on Tuesday, March 11th. The stock was acquired at an average price of $68.93 per share, for a total transaction of $149,578.10. Following the transaction, the director now directly owns 3,007 shares of the company’s stock, valued at $207,272.51. This trade represents a 259.26 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.09% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Wells Fargo & Company increased their target price on Xcel Energy from $72.00 to $75.00 and gave the company an “overweight” rating in a research note on Friday, February 7th. Barclays reduced their price objective on Xcel Energy from $71.00 to $69.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 22nd. Morgan Stanley reduced their price objective on 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. JPMorgan Chase & Co. upgraded 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. Finally, KeyCorp increased their target price on Xcel Energy from $74.00 to $79.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $71.10.

Xcel Energy Price Performance

Shares of XEL opened at $70.28 on Wednesday. The stock’s fifty day moving average is $67.94 and its 200-day moving average is $66.92. Xcel Energy Inc. has a one year low of $51.58 and a one year high of $73.38. The firm has a market capitalization of $40.38 billion, a price-to-earnings ratio of 20.43, a price-to-earnings-growth ratio of 2.62 and a beta of 0.37. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.82 and a current ratio of 0.93.

Xcel Energy (NASDAQ:XEL) last announced 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%. Equities analysts anticipate that Xcel Energy Inc. will post 3.82 EPS for the current year.

Xcel Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, April 20th. Investors of record on Friday, March 14th will be given a $0.57 dividend. This is a positive change from Xcel Energy’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend is Friday, March 14th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.24%. Xcel Energy’s dividend payout ratio (DPR) is 66.28%.

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.