Summit Global Investments Acquires New Holdings in Xcel Energy Inc. (NASDAQ:XEL)

Summit Global Investments acquired a new position in shares of Xcel Energy Inc. (NASDAQ:XEL - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 11,815 shares of the company's stock, valued at approximately $836,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Brighton Jones LLC purchased a new stake in Xcel Energy in the 4th quarter valued at about $240,000. Blue Trust Inc. lifted its stake in Xcel Energy by 53.2% during the fourth quarter. Blue Trust Inc. now owns 10,450 shares of the company's stock worth $682,000 after purchasing an additional 3,630 shares during the last quarter. Pacer Advisors Inc. lifted its stake in Xcel Energy by 11.5% during the fourth quarter. Pacer Advisors Inc. now owns 76,390 shares of the company's stock worth $5,158,000 after purchasing an additional 7,873 shares during the last quarter. Perigon Wealth Management LLC grew its holdings in Xcel Energy by 4.0% in the 4th quarter. Perigon Wealth Management LLC now owns 5,937 shares of the company's stock worth $393,000 after buying an additional 231 shares in the last quarter. Finally, Gries Financial LLC raised its position in shares of Xcel Energy by 21.0% during the 4th quarter. Gries Financial LLC now owns 3,724 shares of the company's stock worth $251,000 after buying an additional 647 shares in the last quarter. Hedge funds and other institutional investors own 78.38% of the company's stock.

Insider Transactions at Xcel Energy

In other news, Director Devin W. Stockfish acquired 2,170 shares of the stock in a transaction that occurred on Tuesday, March 11th. The stock was acquired at an average price of $68.93 per share, for a total transaction of $149,578.10. Following the transaction, the director now directly owns 3,007 shares in the company, valued at approximately $207,272.51. This represents a 259.26% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 0.09% of the company's stock.

Xcel Energy Price Performance

Xcel Energy stock traded up $0.03 on Wednesday, reaching $69.36. The company's stock had a trading volume of 581,091 shares, compared to its average volume of 3,584,242. 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 company has a market cap of $40.00 billion, a price-to-earnings ratio of 20.16, a PEG ratio of 2.62 and a beta of 0.38. The business's fifty day moving average price is $69.91 and its 200 day moving average price is $68.97. Xcel Energy Inc. has a twelve month low of $51.97 and a twelve month high of $73.38.

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

Xcel Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 30th. Shareholders of record on Friday, June 13th will be issued a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 3.29%. The ex-dividend date of this dividend is Friday, June 13th. Xcel Energy's dividend payout ratio (DPR) is currently 67.06%.

Analyst Ratings Changes

XEL has been the subject of a number of recent research reports. Wall Street Zen downgraded Xcel Energy from a "hold" rating to a "sell" rating in a research report on Tuesday, May 20th. BMO Capital Markets raised their price objective on shares of Xcel Energy from $69.00 to $73.00 and gave the company a "market perform" rating in a research report on Wednesday, April 23rd. UBS Group boosted their price objective on shares of Xcel Energy from $73.00 to $77.00 and gave the stock a "neutral" rating in a research note on Tuesday, April 1st. Evercore ISI increased their price target on shares of Xcel Energy from $74.00 to $77.00 and gave the company an "outperform" rating in a report on Monday, April 28th. Finally, Morgan Stanley set a $78.00 price objective on Xcel Energy and gave the company an "equal weight" rating in a research report on Thursday, May 22nd. One research analyst has rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $75.90.

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.