Renaissance Technologies LLC Buys Shares of 186,900 Xcel Energy Inc. (NASDAQ:XEL)

Renaissance Technologies LLC purchased a new position in shares of Xcel Energy Inc. (NASDAQ:XEL) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 186,900 shares of the company’s stock, valued at approximately $12,619,000.

A number of other institutional investors have also modified their holdings of XEL. Sierra Ocean LLC acquired a new stake in shares of Xcel Energy in the fourth quarter worth approximately $26,000. Fairway Wealth LLC acquired a new position in shares of Xcel Energy in the 4th quarter valued at $27,000. Crews Bank & Trust purchased a new stake in shares of Xcel Energy during the 4th quarter valued at $34,000. MCF Advisors LLC increased its holdings in shares of 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 last quarter. Finally, First Financial Corp IN purchased a new position in shares of Xcel Energy in the 4th quarter worth $46,000. Institutional investors and hedge funds own 78.38% of the company’s stock.

Xcel Energy Price Performance

Shares of XEL stock opened at $70.27 on Wednesday. The firm has a fifty day simple moving average of $69.21 and a 200-day simple moving average of $67.72. The company has a market capitalization of $40.48 billion, a PE ratio of 20.43, a price-to-earnings-growth ratio of 2.62 and a beta of 0.39. Xcel Energy Inc. has a twelve month low of $51.97 and a twelve month high of $73.38. 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 (NASDAQ:XEL) last posted its quarterly earnings data 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%. Equities research analysts anticipate that Xcel Energy Inc. will post 3.82 earnings per share for the current fiscal year.

Xcel Energy Increases Dividend

The firm also recently announced 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 dividend yield of 3.24%. 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 is presently 66.28%.

Insider Activity

In related news, Director Devin W. Stockfish purchased 2,170 shares of Xcel Energy stock in a transaction dated Tuesday, March 11th. The shares were acquired at an average price of $68.93 per share, with a total value of $149,578.10. Following the completion of the transaction, the director now owns 3,007 shares of the company’s stock, valued at approximately $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.

Wall Street Analyst Weigh In

Several brokerages have commented on XEL. Barclays upped their price target on Xcel Energy from $69.00 to $72.00 and gave the stock an “overweight” rating in a research note on Monday, March 31st. Morgan Stanley raised their price target on shares of Xcel Energy from $75.00 to $78.00 and gave the company an “equal weight” rating in a report on Thursday, March 20th. Wells Fargo & Company boosted their price objective 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. Finally, UBS Group raised their target price on shares of Xcel Energy from $73.00 to $77.00 and gave the company a “neutral” rating in a research note on Tuesday, April 1st. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $73.00.

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.