Assetmark Inc. Has $9.83 Million Stock Holdings in Xcel Energy Inc. (NASDAQ:XEL)

Assetmark Inc. grew its holdings in Xcel Energy Inc. (NASDAQ:XEL) by 4.4% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 145,564 shares of the company’s stock after acquiring an additional 6,134 shares during the period. Assetmark Inc.’s holdings in Xcel Energy were worth $9,828,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. State Street Corp increased its holdings in shares of Xcel Energy by 6.7% during the 3rd quarter. State Street Corp now owns 37,143,025 shares of the company’s stock valued at $2,445,477,000 after acquiring an additional 2,323,448 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in Xcel Energy by 6.2% during the third quarter. Massachusetts Financial Services Co. MA now owns 15,190,756 shares of the company’s stock worth $991,956,000 after purchasing an additional 892,740 shares during the period. Geode Capital Management LLC grew its holdings in Xcel Energy by 1.8% during the third quarter. Geode Capital Management LLC now owns 14,562,103 shares of the company’s stock valued at $952,091,000 after purchasing an additional 262,191 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Xcel Energy by 0.3% in the fourth quarter. Bank of New York Mellon Corp now owns 3,777,002 shares of the company’s stock valued at $255,023,000 after purchasing an additional 11,529 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Xcel Energy by 6.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,625,848 shares of the company’s stock worth $244,817,000 after buying an additional 208,233 shares during the last quarter. Institutional investors and hedge funds own 78.38% of the company’s stock.

Analyst Ratings Changes

XEL has been the topic of a number of research analyst reports. JPMorgan Chase & Co. upgraded shares of Xcel Energy from a “neutral” rating to an “overweight” rating and raised their target price for the company from $69.00 to $80.00 in a research note on Thursday, December 12th. Barclays lowered their price target 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. KeyCorp lifted 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. Wells Fargo & Company increased their target price on Xcel Energy from $72.00 to $75.00 and gave the company an “overweight” rating in a research note on Friday, February 7th. Finally, Morgan Stanley dropped their price target on 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. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $69.91.

Xcel Energy Trading Up 0.5 %

Shares of Xcel Energy stock opened at $68.00 on Friday. Xcel Energy Inc. has a 52-week low of $49.89 and a 52-week high of $73.38. The firm has a market capitalization of $39.07 billion, a PE ratio of 19.77, a price-to-earnings-growth ratio of 2.62 and a beta of 0.37. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.93 and a quick ratio of 0.82. The company’s fifty day moving average price is $67.57 and its two-hundred day moving average price is $66.41.

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

Xcel Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, April 20th. Stockholders of record on Friday, March 14th will be issued a $0.57 dividend. The ex-dividend date of this dividend is Friday, March 14th. This is a boost from Xcel Energy’s previous quarterly dividend of $0.55. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.35%. Xcel Energy’s dividend payout ratio is presently 66.28%.

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.