Maryland State Retirement & Pension System Has $2.08 Million Stock Holdings in Xcel Energy Inc. (NASDAQ:XEL)

Maryland State Retirement & Pension System lessened its stake in shares of Xcel Energy Inc. (NASDAQ:XEL) by 3.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 30,787 shares of the company’s stock after selling 985 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Xcel Energy were worth $2,079,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Sierra Ocean LLC bought a new position in Xcel Energy in the 4th quarter valued at about $26,000. Fairway Wealth LLC bought a new stake in shares of Xcel Energy during the 4th quarter valued at approximately $27,000. Crews Bank & Trust bought a new stake in shares of Xcel Energy during the 4th quarter valued at approximately $34,000. MCF Advisors LLC boosted its position in Xcel Energy by 566.3% during the 4th quarter. MCF Advisors LLC now owns 593 shares of the company’s stock worth $40,000 after buying an additional 504 shares during the period. Finally, First Financial Corp IN acquired a new position in shares of Xcel Energy in the 4th quarter worth approximately $46,000. 78.38% of the stock is owned by institutional investors.

Xcel Energy Price Performance

XEL stock opened at $70.09 on Friday. The firm has a 50 day moving average of $68.09 and a 200-day moving average of $66.96. The company has a current ratio of 0.93, a quick ratio of 0.82 and a debt-to-equity ratio of 1.42. Xcel Energy Inc. has a 12 month low of $51.58 and a 12 month high of $73.38. The firm has a market capitalization of $40.27 billion, a P/E ratio of 20.38, a price-to-earnings-growth ratio of 2.62 and a beta of 0.37.

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 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, sell-side analysts predict that Xcel Energy Inc. will post 3.82 earnings per share for the current fiscal year.

Xcel Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, April 20th. Shareholders of record on Friday, March 14th will be paid a dividend of $0.57 per share. The ex-dividend date of this dividend is Friday, March 14th. This is an increase from Xcel Energy’s previous quarterly dividend of $0.55. This represents a $2.28 annualized dividend and a dividend yield of 3.25%. 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 firm’s stock in a transaction that occurred on Tuesday, March 11th. The shares were bought at an average cost of $68.93 per share, with a total value of $149,578.10. Following the completion of the purchase, the director now directly 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 purchase was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.09% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on XEL shares. KeyCorp boosted their price target on shares of Xcel Energy from $74.00 to $79.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Morgan Stanley upped their price objective on shares of Xcel Energy from $75.00 to $78.00 and gave the stock an “equal weight” rating in a report on Thursday. JPMorgan Chase & Co. upgraded shares of Xcel Energy from a “neutral” rating to an “overweight” rating and increased their target price for the company from $69.00 to $80.00 in a report on Thursday, December 12th. Barclays decreased their price objective on shares of Xcel Energy from $71.00 to $69.00 and set an “overweight” rating for the company in a report on Wednesday, January 22nd. Finally, Wells Fargo & Company raised their price objective on shares of Xcel Energy from $72.00 to $75.00 and gave the stock an “overweight” rating in a report on Friday, February 7th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $71.70.

About Xcel Energy

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.