Fortress Financial Group LLC Makes New $237,000 Investment in Xcel Energy Inc. (NASDAQ:XEL)

Fortress Financial Group LLC acquired a new stake in Xcel Energy Inc. (NASDAQ:XEL) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 3,516 shares of the company’s stock, valued at approximately $237,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. AMF Tjanstepension AB raised its position in Xcel Energy by 185.2% during the 3rd quarter. AMF Tjanstepension AB now owns 34,960 shares of the company’s stock valued at $2,283,000 after purchasing an additional 22,701 shares during the last quarter. abrdn plc boosted its holdings in Xcel Energy by 23.0% in the third quarter. abrdn plc now owns 180,593 shares of the company’s stock valued at $11,756,000 after acquiring an additional 33,752 shares in the last quarter. China Universal Asset Management Co. Ltd. increased its position in Xcel Energy by 111.6% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 7,071 shares of the company’s stock valued at $465,000 after purchasing an additional 3,730 shares during the period. Fidelis Capital Partners LLC bought a new position in Xcel Energy in the 3rd quarter worth $212,000. Finally, First Trust Direct Indexing L.P. lifted its position in shares of Xcel Energy by 41.7% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 13,327 shares of the company’s stock worth $870,000 after purchasing an additional 3,923 shares during the period. 78.38% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently issued reports on XEL shares. JPMorgan Chase & Co. upgraded shares of Xcel Energy from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $69.00 to $80.00 in a research report on Thursday, December 12th. Barclays reduced their price target on Xcel Energy from $71.00 to $69.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 22nd. KeyCorp raised their price objective on Xcel Energy from $74.00 to $79.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Morgan Stanley reduced their target price on shares of Xcel Energy from $74.00 to $72.00 and set an “equal weight” rating on the stock in a research report on Friday, November 22nd. Finally, Wells Fargo & Company lifted their price target on shares of Xcel Energy from $72.00 to $75.00 and gave the company an “overweight” rating in a research report on Friday, February 7th. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $69.91.

Xcel Energy Trading Up 1.1 %

NASDAQ:XEL opened at $70.76 on Friday. The company’s 50 day moving average price is $67.36 and its 200-day moving average price is $65.97. 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 52 week low of $46.79 and a 52 week high of $73.38. The stock has a market cap of $40.63 billion, a price-to-earnings ratio of 20.57, a PEG ratio of 2.62 and a beta of 0.43.

Xcel Energy (NASDAQ:XEL) last announced 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 net margin of 14.40% and a return on equity of 10.65%. On average, equities research analysts forecast that Xcel Energy Inc. will post 3.82 earnings per share for the current fiscal year.

Xcel Energy Increases Dividend

The business also recently announced 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 is a positive change from Xcel Energy’s previous quarterly dividend of $0.55. This represents a $2.28 dividend on an annualized basis and a yield of 3.22%. Xcel Energy’s payout ratio is currently 63.66%.

Xcel Energy Company 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.