Meiji Yasuda Asset Management Co Ltd. Raises Stock Position in Xcel Energy Inc. (NASDAQ:XEL)

Meiji Yasuda Asset Management Co Ltd. increased its holdings in shares of Xcel Energy Inc. (NASDAQ:XEL) by 1.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 21,043 shares of the company’s stock after purchasing an additional 200 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Xcel Energy were worth $1,421,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the stock. Dakota Wealth Management grew its holdings in Xcel Energy by 0.7% during the 4th quarter. Dakota Wealth Management now owns 23,130 shares of the company’s stock valued at $1,562,000 after purchasing an additional 151 shares in the last quarter. Rothschild Investment LLC boosted its position in Xcel Energy by 26.0% in the 4th quarter. Rothschild Investment LLC now owns 731 shares of the company’s stock valued at $49,000 after buying an additional 151 shares during the last quarter. GenTrust LLC grew its stake in shares of Xcel Energy by 4.5% during the fourth quarter. GenTrust LLC now owns 3,602 shares of the company’s stock valued at $243,000 after acquiring an additional 155 shares in the last quarter. Creative Financial Designs Inc. ADV increased its position in shares of Xcel Energy by 23.2% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 827 shares of the company’s stock worth $56,000 after acquiring an additional 156 shares during the last quarter. Finally, Integris Wealth Management LLC lifted its stake in shares of Xcel Energy by 2.6% in the fourth quarter. Integris Wealth Management LLC now owns 6,323 shares of the company’s stock worth $427,000 after acquiring an additional 160 shares in the last quarter. 78.38% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have issued reports on XEL. KeyCorp lifted their price objective on Xcel Energy from $74.00 to $79.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Morgan Stanley lifted their price target on shares of Xcel Energy from $75.00 to $78.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 20th. Wells Fargo & Company increased their price objective on shares of Xcel Energy from $72.00 to $75.00 and gave the company an “overweight” rating in a research note on Friday, February 7th. JPMorgan Chase & Co. raised shares of Xcel Energy from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $69.00 to $80.00 in a research report on Thursday, December 12th. Finally, Barclays reduced their price target on shares of 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 equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $72.30.

Xcel Energy Stock Performance

Shares of XEL stock opened at $68.92 on Thursday. The company has a market cap of $39.60 billion, a P/E ratio of 20.03, a PEG ratio of 2.62 and a beta of 0.37. The business has a 50 day moving average of $68.47 and a two-hundred day moving average of $67.16. Xcel Energy Inc. has a 52 week low of $51.97 and a 52 week high of $73.38. 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 (NASDAQ:XEL) last issued its quarterly earnings data on Thursday, February 6th. The company reported $0.81 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%. As a group, analysts anticipate that Xcel Energy Inc. will post 3.82 EPS for the current 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 given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 3.31%. The ex-dividend date of this dividend is Friday, March 14th. This is a positive change from Xcel Energy’s previous quarterly dividend of $0.55. Xcel Energy’s payout ratio is 66.28%.

Insider Transactions at Xcel Energy

In related news, Director Devin W. Stockfish purchased 2,170 shares of Xcel Energy stock in a transaction dated Tuesday, March 11th. The stock was bought at an average cost of $68.93 per share, with a total value of $149,578.10. Following the purchase, the director now owns 3,007 shares in the company, valued at approximately $207,272.51. The trade was a 259.26 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.09% of the company’s stock.

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.