Avidian Wealth Enterprises LLC Boosts Stock Position in Xcel Energy Inc. (NASDAQ:XEL)

Avidian Wealth Enterprises LLC lifted its position in Xcel Energy Inc. (NASDAQ:XEL) by 13.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,496 shares of the company’s stock after purchasing an additional 402 shares during the quarter. Avidian Wealth Enterprises LLC’s holdings in Xcel Energy were worth $236,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. State Street Corp raised its stake 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 valued at $2,445,477,000 after buying an additional 2,323,448 shares during the last quarter. Brookfield Corp ON raised its position in Xcel Energy by 520.1% during the third quarter. Brookfield Corp ON now owns 2,509,031 shares of the company’s stock valued at $163,840,000 after acquiring an additional 2,104,405 shares in the last quarter. Merewether Investment Management LP acquired a new position in Xcel Energy in the third quarter valued at approximately $64,301,000. Massachusetts Financial Services Co. MA grew its stake in shares of Xcel Energy by 6.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 15,190,756 shares of the company’s stock worth $991,956,000 after purchasing an additional 892,740 shares during the period. Finally, Janus Henderson Group PLC grew its stake in shares of Xcel Energy by 1,265.6% during the 3rd quarter. Janus Henderson Group PLC now owns 839,146 shares of the company’s stock worth $54,797,000 after purchasing an additional 777,696 shares during the period. Institutional investors and hedge funds own 78.38% of the company’s stock.

Xcel Energy Stock Performance

NASDAQ:XEL opened at $68.61 on Friday. Xcel Energy Inc. has a twelve month low of $46.79 and a twelve month high of $73.38. The company has a market cap of $39.40 billion, a P/E ratio of 19.94, a P/E/G ratio of 2.54 and a beta of 0.43. 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’s 50-day moving average price is $67.07 and its 200-day moving average price is $65.19.

Xcel Energy (NASDAQ:XEL) last released 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%. On average, sell-side analysts forecast that Xcel Energy Inc. will post 3.82 earnings per share for the current fiscal year.

Xcel Energy Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 29th. Shareholders of record on Monday, January 6th were paid a $0.5475 dividend. This represents a $2.19 dividend on an annualized basis and a dividend yield of 3.19%. The ex-dividend date was Monday, January 6th. Xcel Energy’s dividend payout ratio (DPR) is presently 63.66%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on XEL shares. JPMorgan Chase & Co. raised shares of Xcel Energy from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $69.00 to $80.00 in a report on Thursday, December 12th. Wells Fargo & Company increased their target price on shares of Xcel Energy from $72.00 to $75.00 and gave the stock an “overweight” rating in a research note on Friday, February 7th. KeyCorp lifted 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. 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. Finally, Jefferies Financial Group upgraded Xcel Energy from a “hold” rating to a “buy” rating and boosted their price objective for the company from $71.00 to $76.00 in a research report on Friday, November 1st. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, Xcel Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $69.91.

Xcel Energy Company 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.