Xcel Energy Inc. (NASDAQ:XEL) Stake Lessened by Jennison Associates LLC

Jennison Associates LLC decreased its position in shares of Xcel Energy Inc. (NASDAQ:XEL) by 0.9% during the 4th quarter, Holdings Channel.com reports. The firm owned 1,670,260 shares of the company’s stock after selling 15,227 shares during the quarter. Jennison Associates LLC’s holdings in Xcel Energy were worth $112,776,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp lifted its holdings in shares of Xcel Energy by 6.7% in the third quarter. State Street Corp now owns 37,143,025 shares of the company’s stock valued at $2,445,477,000 after buying an additional 2,323,448 shares during the period. Brookfield Corp ON lifted its holdings in Xcel Energy by 520.1% in the 3rd quarter. Brookfield Corp ON now owns 2,509,031 shares of the company’s stock valued at $163,840,000 after acquiring an additional 2,104,405 shares during the last quarter. Merewether Investment Management LP acquired a new stake in Xcel Energy in the 3rd quarter valued at about $64,301,000. Massachusetts Financial Services Co. MA boosted its position in shares of Xcel Energy by 6.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 15,190,756 shares of the company’s stock valued at $991,956,000 after purchasing an additional 892,740 shares in the last quarter. Finally, Janus Henderson Group PLC grew its stake in shares of Xcel Energy by 1,265.6% in the 3rd quarter. Janus Henderson Group PLC now owns 839,146 shares of the company’s stock worth $54,797,000 after purchasing an additional 777,696 shares during the last quarter. 78.38% of the stock is currently owned by institutional investors and hedge funds.

Xcel Energy Stock Performance

Shares of XEL opened at $67.75 on Tuesday. The company has a market capitalization of $38.90 billion, a PE ratio of 20.10, a PEG ratio of 2.54 and a beta of 0.43. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.82 and a current ratio of 0.93. The company’s 50 day moving average price is $67.85 and its 200 day moving average price is $64.61. Xcel Energy Inc. has a 52 week low of $46.79 and a 52 week high of $73.38.

Xcel Energy Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 29th. Stockholders of record on Monday, January 6th were issued a dividend of $0.5475 per share. This represents a $2.19 annualized dividend and a dividend yield of 3.23%. The ex-dividend date of this dividend was Monday, January 6th. Xcel Energy’s dividend payout ratio is currently 64.99%.

Wall Street Analyst Weigh In

Several analysts recently commented on XEL shares. JPMorgan Chase & Co. raised 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 research note on Thursday, December 12th. KeyCorp raised their price objective on Xcel Energy from $74.00 to $79.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Jefferies Financial Group raised Xcel Energy from a “hold” rating to a “buy” rating and boosted their target price for the stock from $71.00 to $76.00 in a research report on Friday, November 1st. Morgan Stanley decreased their price target on Xcel Energy from $74.00 to $72.00 and set an “equal weight” rating for the company in a research report on Friday, November 22nd. Finally, Wells Fargo & Company upgraded Xcel Energy from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $70.00 to $72.00 in a report on Monday, January 13th. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $69.64.

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.