Cohen & Steers Inc. Acquires New Position in Xcel Energy Inc. (NASDAQ:XEL)

Cohen & Steers Inc. purchased a new position in shares of Xcel Energy Inc. (NASDAQ:XEL - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 685,700 shares of the company's stock, valued at approximately $46,298,000. Cohen & Steers Inc. owned about 0.12% of Xcel Energy at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. Hodges Capital Management Inc. lifted its stake in shares of Xcel Energy by 447.1% during the 4th quarter. Hodges Capital Management Inc. now owns 51,396 shares of the company's stock valued at $3,470,000 after buying an additional 42,001 shares in the last quarter. Atomi Financial Group Inc. bought a new position in shares of Xcel Energy in the fourth quarter worth about $278,000. GEN Financial Management INC. purchased a new stake in shares of Xcel Energy during the fourth quarter worth about $301,000. Oak Thistle LLC purchased a new stake in shares of Xcel Energy during the fourth quarter worth about $1,433,000. Finally, Jones Financial Companies Lllp raised its stake in Xcel Energy by 35.8% during the 4th quarter. Jones Financial Companies Lllp now owns 14,825 shares of the company's stock valued at $1,001,000 after purchasing an additional 3,905 shares during the period. Institutional investors own 78.38% of the company's stock.

Xcel Energy Stock Performance

XEL traded up $1.03 during midday trading on Friday, hitting $70.13. 2,784,548 shares of the company were exchanged, compared to its average volume of 3,589,283. The company's 50 day simple moving average is $69.38 and its 200 day simple moving average is $67.80. The firm has a market capitalization of $40.40 billion, a price-to-earnings ratio of 20.39, a price-to-earnings-growth ratio of 2.62 and a beta of 0.39. Xcel Energy Inc. has a 1-year low of $51.97 and a 1-year high of $73.38. 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 - Get Free Report) last released 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 net margin of 14.40% and a return on equity of 10.65%. As a group, sell-side analysts predict that Xcel Energy Inc. will post 3.82 earnings per share for the current year.

Xcel Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, April 20th. Investors of record on Friday, March 14th will be issued a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 3.25%. The ex-dividend date of this dividend is Friday, March 14th. This is an increase from Xcel Energy's previous quarterly dividend of $0.55. Xcel Energy's dividend payout ratio (DPR) is 66.28%.

Insider Buying and Selling at Xcel Energy

In other Xcel Energy news, Director Devin W. Stockfish bought 2,170 shares of the company's stock in a transaction on Tuesday, March 11th. The shares were bought at an average price of $68.93 per share, for a total transaction of $149,578.10. Following the transaction, the director now owns 3,007 shares of the company's stock, valued at approximately $207,272.51. This trade represents a 259.26 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.09% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

XEL has been the topic of several recent analyst reports. Barclays lifted their price objective on shares of Xcel Energy from $69.00 to $72.00 and gave the company an "overweight" rating in a research report on Monday, March 31st. UBS Group lifted their target price on Xcel Energy from $73.00 to $77.00 and gave the stock a "neutral" rating in a report on Tuesday, April 1st. Wells Fargo & Company boosted their target price on Xcel Energy from $72.00 to $75.00 and gave the company an "overweight" rating in a research report on Friday, February 7th. Finally, Morgan Stanley upped their price objective on Xcel Energy from $75.00 to $78.00 and gave the stock an "equal weight" rating in a research note on Thursday, March 20th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $73.00.

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.