Voloridge Investment Management LLC Makes New Investment in Xcel Energy Inc. (NASDAQ:XEL)

Voloridge Investment Management LLC acquired a new stake in Xcel Energy Inc. (NASDAQ:XEL - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 125,907 shares of the company's stock, valued at approximately $8,501,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Bank of America Corp DE grew its holdings in Xcel Energy by 43.6% during the 4th quarter. Bank of America Corp DE now owns 20,762,745 shares of the company's stock worth $1,401,901,000 after acquiring an additional 6,306,380 shares during the last quarter. FMR LLC lifted its holdings in shares of Xcel Energy by 118.3% during the fourth quarter. FMR LLC now owns 6,608,044 shares of the company's stock worth $446,175,000 after purchasing an additional 3,581,436 shares during the period. Zimmer Partners LP grew its stake in shares of Xcel Energy by 1,625.7% in the fourth quarter. Zimmer Partners LP now owns 3,667,200 shares of the company's stock worth $247,609,000 after purchasing an additional 3,454,700 shares during the last quarter. Pictet Asset Management Holding SA raised its position in Xcel Energy by 236.7% during the 4th quarter. Pictet Asset Management Holding SA now owns 4,878,279 shares of the company's stock worth $329,381,000 after purchasing an additional 3,429,353 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its holdings in Xcel Energy by 379.3% during the 4th quarter. Janus Henderson Group PLC now owns 4,022,085 shares of the company's stock worth $271,578,000 after buying an additional 3,182,939 shares during the period. Institutional investors and hedge funds own 78.38% of the company's stock.

Insiders Place Their Bets

In related news, Director Devin W. Stockfish purchased 2,170 shares of the firm's stock in a transaction dated Tuesday, March 11th. The stock was bought at an average price of $68.93 per share, for a total transaction of $149,578.10. Following the purchase, the director now directly owns 3,007 shares in the company, valued at approximately $207,272.51. This trade represents a 259.26% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.09% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Wall Street Zen cut Xcel Energy from a "hold" rating to a "sell" rating in a research note on Tuesday, May 20th. Barclays upped their target price on Xcel Energy from $72.00 to $73.00 and gave the company an "overweight" rating in a report on Tuesday, April 22nd. Wells Fargo & Company set a $78.00 target price on shares of Xcel Energy and gave the company an "overweight" rating in a report on Friday, April 25th. Evercore ISI increased their price target on Xcel Energy from $74.00 to $77.00 and gave the stock an "outperform" rating in a report on Monday, April 28th. Finally, BMO Capital Markets lifted their price objective on Xcel Energy from $69.00 to $73.00 and gave the stock a "market perform" rating in a research report on Wednesday, April 23rd. 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, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $75.90.

Xcel Energy Stock Down 1.3%

Shares of NASDAQ:XEL traded down $0.88 during mid-day trading on Wednesday, hitting $68.93. 2,425,599 shares of the company traded hands, compared to its average volume of 3,631,437. The stock has a 50-day moving average price of $69.84 and a two-hundred day moving average price of $68.94. Xcel Energy Inc. has a 12-month low of $51.97 and a 12-month high of $73.38. The stock has a market cap of $39.76 billion, a P/E ratio of 20.04, a P/E/G ratio of 2.62 and a beta of 0.38. 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 posted its quarterly earnings data 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). Xcel Energy had a return on equity of 10.65% and a net margin of 14.40%. The firm had revenue of $3.91 billion for the quarter, compared to analysts' expectations of $3.93 billion. During the same period in the prior year, the firm earned $0.88 earnings per share. Xcel Energy's revenue was up 7.0% compared to the same quarter last year. On average, equities research analysts forecast that Xcel Energy Inc. will post 3.82 earnings per share for the current year.

Xcel Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 30th. 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 yield of 3.31%. Xcel Energy's dividend payout ratio (DPR) is currently 67.06%.

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.