Glenview Trust co Acquires 2,683 Shares of Xcel Energy Inc. (NASDAQ:XEL)

Glenview Trust co boosted its holdings in Xcel Energy Inc. (NASDAQ:XEL) by 59.8% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,168 shares of the company’s stock after acquiring an additional 2,683 shares during the quarter. Glenview Trust co’s holdings in Xcel Energy were worth $484,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Harbour Investments Inc. increased its position in shares of Xcel Energy by 18.8% during the 4th quarter. Harbour Investments Inc. now owns 22,690 shares of the company’s stock valued at $1,532,000 after purchasing an additional 3,595 shares during the last quarter. Natixis Advisors LLC increased its position in shares of Xcel Energy by 45.2% during the 4th quarter. Natixis Advisors LLC now owns 181,495 shares of the company’s stock valued at $12,255,000 after purchasing an additional 56,528 shares during the last quarter. Frank Rimerman Advisors LLC bought a new position in shares of Xcel Energy during the 4th quarter valued at about $204,000. Poinciana Advisors Group LLC bought a new position in shares of Xcel Energy during the 4th quarter valued at about $305,000. Finally, Picton Mahoney Asset Management increased its position in shares of Xcel Energy by 44.6% during the 4th quarter. Picton Mahoney Asset Management now owns 5,009 shares of the company’s stock valued at $337,000 after purchasing an additional 1,545 shares during the last quarter. 78.38% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

XEL has been the topic of several recent research reports. JPMorgan Chase & Co. upgraded Xcel Energy from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $69.00 to $80.00 in a research report on Thursday, December 12th. 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 raised 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 raised 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. Finally, 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. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, Xcel Energy has an average rating of “Moderate Buy” and an average price target of $71.10.

Xcel Energy Trading Up 0.3 %

NASDAQ XEL opened at $69.96 on Tuesday. Xcel Energy Inc. has a fifty-two week low of $51.37 and a fifty-two week high of $73.38. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.82 and a current ratio of 0.93. The stock has a 50 day simple moving average of $67.85 and a two-hundred day simple moving average of $66.86. The stock has a market cap of $40.20 billion, a P/E ratio of 20.34, a price-to-earnings-growth ratio of 2.62 and a beta of 0.37.

Xcel Energy (NASDAQ:XEL) last released its quarterly earnings data 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 return on equity of 10.65% and a net margin of 14.40%. On average, analysts forecast that Xcel Energy Inc. will post 3.82 earnings per share for the current year.

Xcel Energy Increases Dividend

The firm 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 $0.57 dividend. The ex-dividend date is Friday, March 14th. This represents a $2.28 annualized dividend and a yield of 3.26%. This is a boost from Xcel Energy’s previous quarterly dividend of $0.55. Xcel Energy’s dividend payout ratio (DPR) is 66.28%.

Insiders Place Their Bets

In other news, Director Devin W. Stockfish bought 2,170 shares of the stock in a transaction dated 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 purchase, the director now directly owns 3,007 shares in the company, valued at $207,272.51. This trade represents a 259.26 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.09% of the company’s stock.

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.