Xcel Energy Inc. (NASDAQ:XEL) is HITE Hedge Asset Management LLC’s 7th Largest Position

HITE Hedge Asset Management LLC boosted its position in Xcel Energy Inc. (NASDAQ:XEL) by 107.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 656,797 shares of the company’s stock after buying an additional 339,680 shares during the period. Xcel Energy makes up about 3.3% of HITE Hedge Asset Management LLC’s holdings, making the stock its 7th biggest position. HITE Hedge Asset Management LLC owned approximately 0.11% of Xcel Energy worth $44,347,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Hodges Capital Management Inc. lifted its holdings in Xcel Energy by 447.1% in the fourth quarter. Hodges Capital Management Inc. now owns 51,396 shares of the company’s stock valued at $3,470,000 after acquiring an additional 42,001 shares during the period. Atomi Financial Group Inc. purchased a new stake in Xcel Energy during the fourth quarter worth about $278,000. GEN Financial Management INC. acquired a new position in Xcel Energy during the fourth quarter worth about $301,000. Oak Thistle LLC purchased a new position in Xcel Energy in the fourth quarter valued at about $1,433,000. Finally, Jones Financial Companies Lllp lifted its position in shares of Xcel Energy by 35.8% during the 4th quarter. Jones Financial Companies Lllp now owns 14,825 shares of the company’s stock valued at $1,001,000 after acquiring an additional 3,905 shares during the period. Hedge funds and other institutional investors own 78.38% of the company’s stock.

Xcel Energy Trading Up 1.5 %

Shares of Xcel Energy stock opened at $70.13 on Friday. The firm has a market cap of $40.40 billion, a PE ratio of 20.39, a P/E/G ratio of 2.62 and a beta of 0.39. The company has a quick ratio of 0.82, a current ratio of 0.93 and a debt-to-equity ratio of 1.42. Xcel Energy Inc. has a fifty-two week low of $51.97 and a fifty-two week high of $73.38. The business’s fifty day moving average is $69.32 and its two-hundred day moving average is $67.76.

Xcel Energy (NASDAQ:XEL) last issued its quarterly earnings results on Thursday, February 6th. The company reported $0.81 earnings per share (EPS) 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%. Analysts anticipate that Xcel Energy Inc. will post 3.82 earnings per share for the current year.

Xcel Energy Increases Dividend

The business 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 is Friday, March 14th. This represents a $2.28 dividend on an annualized basis and a yield of 3.25%. This is an increase from Xcel Energy’s previous quarterly dividend of $0.55. Xcel Energy’s dividend payout ratio (DPR) is currently 66.28%.

Insider Activity

In other news, Director Devin W. Stockfish bought 2,170 shares of the firm’s stock in a transaction dated Tuesday, March 11th. The stock was acquired at an average price of $68.93 per share, for a total transaction of $149,578.10. Following the acquisition, 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. Corporate insiders own 0.09% of the company’s stock.

Analysts Set New Price Targets

XEL has been the topic of a number of research analyst reports. Wells Fargo & Company boosted their target price on Xcel Energy from $72.00 to $75.00 and gave the stock an “overweight” rating in a research report on Friday, February 7th. Morgan Stanley lifted their target price on shares of Xcel Energy from $75.00 to $78.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 20th. Barclays increased their price target on shares of Xcel Energy from $69.00 to $72.00 and gave the company an “overweight” rating in a research report on Monday, March 31st. Finally, UBS Group lifted their price objective on Xcel Energy from $73.00 to $77.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 1st. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus 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.