Xcel Energy Inc. (NASDAQ:XEL) Shares Bought by State of Michigan Retirement System

State of Michigan Retirement System raised its position in Xcel Energy Inc. (NASDAQ:XEL) by 2.7% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 155,894 shares of the company’s stock after acquiring an additional 4,100 shares during the period. State of Michigan Retirement System’s holdings in Xcel Energy were worth $10,526,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in XEL. Steward Partners Investment Advisory LLC lifted its holdings in shares of Xcel Energy by 8.6% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 16,778 shares of the company’s stock valued at $1,133,000 after buying an additional 1,329 shares during the period. Reaves W H & Co. Inc. raised its position in Xcel Energy by 440.2% in the fourth quarter. Reaves W H & Co. Inc. now owns 1,455,927 shares of the company’s stock worth $98,304,000 after acquiring an additional 1,186,427 shares in the last quarter. Mission Wealth Management LP lifted its holdings in Xcel Energy by 6.7% in the fourth quarter. Mission Wealth Management LP now owns 14,523 shares of the company’s stock valued at $981,000 after acquiring an additional 917 shares during the period. SBI Securities Co. Ltd. purchased a new stake in shares of Xcel Energy during the 4th quarter worth $76,000. Finally, Jones Financial Companies Lllp grew its stake 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 worth $1,001,000 after purchasing 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 Down 1.9 %

Xcel Energy stock opened at $68.73 on Thursday. The stock has a 50-day moving average price of $67.58 and a 200 day moving average price of $66.34. 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 $39.47 billion, a PE ratio of 19.98, a P/E/G ratio of 2.62 and a beta of 0.43. 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 released its quarterly earnings results on Thursday, February 6th. The company reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.06). Xcel Energy had a return on equity of 10.65% and a net margin of 14.40%. Equities research analysts predict that Xcel Energy Inc. will post 3.82 earnings per share for the current fiscal 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 issued a $0.57 dividend. The ex-dividend date is Friday, March 14th. This is an increase from Xcel Energy’s previous quarterly dividend of $0.55. This represents a $2.28 annualized dividend and a yield of 3.32%. Xcel Energy’s payout ratio is 66.28%.

Analyst Ratings Changes

XEL has been the subject of several recent analyst reports. Morgan Stanley reduced their price objective on shares of Xcel Energy from $74.00 to $72.00 and set an “equal weight” rating for the company in a research note on Friday, November 22nd. JPMorgan Chase & Co. upgraded shares of Xcel Energy from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $69.00 to $80.00 in a research report on Thursday, December 12th. Wells Fargo & Company upped their price target on Xcel Energy from $72.00 to $75.00 and gave the stock an “overweight” rating in a report on Friday, February 7th. 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. Finally, Barclays decreased their target price on 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 research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $69.91.

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.