Contravisory Investment Management Inc. Takes Position in Xcel Energy Inc. (NASDAQ:XEL)

Contravisory Investment Management Inc. bought a new stake in shares of Xcel Energy Inc. (NASDAQ:XEL - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 105,171 shares of the company's stock, valued at approximately $7,445,000.

A number of other institutional investors have also recently bought and sold shares of XEL. Sierra Ocean LLC acquired a new position in shares of Xcel Energy in the fourth quarter worth $26,000. Fairway Wealth LLC acquired a new stake in Xcel Energy in the 4th quarter valued at approximately $27,000. Rothschild Investment LLC increased its position in Xcel Energy by 26.0% during the fourth quarter. Rothschild Investment LLC now owns 731 shares of the company's stock worth $49,000 after acquiring an additional 151 shares during the period. Itau Unibanco Holding S.A. acquired a new position in shares of Xcel Energy during the fourth quarter valued at about $52,000. Finally, Oakworth Capital Inc. lifted its position in shares of Xcel Energy by 1,860.0% in the 4th quarter. Oakworth Capital Inc. now owns 784 shares of the company's stock worth $53,000 after acquiring an additional 744 shares during the period. Hedge funds and other institutional investors own 78.38% of the company's stock.

Insider Buying and Selling

In other news, Director Devin W. Stockfish bought 2,170 shares of the business's stock in a transaction on Tuesday, March 11th. The shares were purchased at an average price of $68.93 per share, for a total transaction of $149,578.10. Following the purchase, the director now owns 3,007 shares of the company's stock, valued at approximately $207,272.51. The trade was a 259.26% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.09% of the stock is currently owned by company insiders.

Xcel Energy Trading Up 0.1%

NASDAQ:XEL traded up $0.07 on Thursday, reaching $68.57. The company's stock had a trading volume of 1,841,183 shares, compared to its average volume of 3,584,386. The firm has a market cap of $39.55 billion, a PE ratio of 19.93, a PEG ratio of 2.62 and a beta of 0.37. 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 business's 50-day moving average price is $69.88 and its two-hundred day moving average price is $68.96. Xcel Energy Inc. has a 1-year low of $51.97 and a 1-year high of $73.38.

Xcel Energy (NASDAQ:XEL - Get Free Report) last posted its earnings results on Thursday, April 24th. The company reported $0.84 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.95 by ($0.11). The business had revenue of $3.91 billion for the quarter, compared to the consensus estimate of $3.93 billion. Xcel Energy had a return on equity of 10.65% and a net margin of 14.40%. Xcel Energy's revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.88 earnings per share. Equities research analysts anticipate that Xcel Energy Inc. will post 3.82 earnings per share for the current fiscal year.

Xcel Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, July 20th. Investors of record on Friday, June 13th will be issued a dividend of $0.57 per share. The ex-dividend date is Friday, June 13th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.33%. Xcel Energy's payout ratio is 67.06%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on XEL shares. BMO Capital Markets upped their target price on shares of Xcel Energy from $69.00 to $73.00 and gave the company a "market perform" rating in a research note on Wednesday, April 23rd. Morgan Stanley set a $78.00 target price on shares of Xcel Energy and gave the stock an "equal weight" rating in a research report on Thursday, May 22nd. Wall Street Zen downgraded shares of Xcel Energy from a "hold" rating to a "sell" rating in a research report on Tuesday, May 20th. Wells Fargo & Company set a $78.00 price objective on Xcel Energy and gave the stock an "overweight" rating in a research note on Friday, April 25th. Finally, Evercore ISI increased their target price on Xcel Energy from $74.00 to $77.00 and gave the company an "outperform" rating in a research note on Monday, April 28th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat, Xcel Energy has a consensus rating of "Moderate Buy" and an average target price of $75.90.

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.