Modern Wealth Management LLC Has $554,000 Stock Position in Xcel Energy Inc. (NASDAQ:XEL)

Modern Wealth Management LLC boosted its stake in shares of Xcel Energy Inc. (NASDAQ:XEL) by 5.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,277 shares of the company’s stock after purchasing an additional 428 shares during the quarter. Modern Wealth Management LLC’s holdings in Xcel Energy were worth $554,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the stock. State Street Corp increased its position in shares of Xcel Energy by 6.7% during the third quarter. State Street Corp now owns 37,143,025 shares of the company’s stock valued at $2,445,477,000 after purchasing an additional 2,323,448 shares during the period. Brookfield Corp ON boosted its stake in Xcel Energy by 520.1% during the third quarter. Brookfield Corp ON now owns 2,509,031 shares of the company’s stock worth $163,840,000 after buying an additional 2,104,405 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Xcel Energy in the 4th quarter valued at $83,653,000. Reaves W H & Co. Inc. raised its stake in shares of Xcel Energy by 440.2% in the 4th quarter. Reaves W H & Co. Inc. now owns 1,455,927 shares of the company’s stock valued at $98,304,000 after buying an additional 1,186,427 shares in the last quarter. Finally, Burkehill Global Management LP bought a new position in shares of Xcel Energy during the 4th quarter worth about $67,520,000. 78.38% of the stock is owned by institutional investors.

Insider Activity

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

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on XEL shares. KeyCorp upped their target price on shares of Xcel Energy from $74.00 to $79.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Morgan Stanley upped their price objective on Xcel Energy from $75.00 to $78.00 and gave the company an “equal weight” rating in a research note on Thursday, March 20th. Wells Fargo & Company upped their price target on Xcel Energy from $72.00 to $75.00 and gave the company an “overweight” rating in a research report on Friday, February 7th. Barclays reduced their target price on shares of Xcel Energy from $71.00 to $69.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 22nd. Finally, JPMorgan Chase & Co. raised shares of Xcel Energy from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $69.00 to $80.00 in a report on Thursday, December 12th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, Xcel Energy has a consensus rating of “Moderate Buy” and an average target price of $72.30.

Xcel Energy Stock Performance

Shares of NASDAQ:XEL opened at $69.32 on Friday. The business has a fifty day moving average of $68.53 and a 200-day moving average of $67.18. 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 Inc. has a twelve month low of $51.97 and a twelve month high of $73.38. The firm has a market cap of $39.83 billion, a PE ratio of 20.15, 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 return on equity of 10.65% and a net margin of 14.40%. On average, equities research analysts predict that Xcel Energy Inc. will post 3.82 EPS for the current fiscal year.

Xcel Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, April 20th. Shareholders of record on Friday, March 14th will be given a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 3.29%. This is a positive change from Xcel Energy’s previous quarterly dividend of $0.55. The ex-dividend date is Friday, March 14th. Xcel Energy’s dividend payout ratio (DPR) is presently 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.