Xcel Energy Inc. $XEL Shares Purchased by Assetmark Inc.

Key Points

• Assetmark Inc. increased its stake in Xcel Energy by 12.3%, adding 18,330 shares to hold 167,682 shares worth about $12.39 million at quarter-end.
• Xcel Energy raised its quarterly dividend to $0.5925 (annualized $2.37), a yield of 2.9%; the ex-dividend date is March 13 and the payment date is April 20.
• Xcel reported quarterly EPS of $0.96 (in line with estimates) while revenue of $3.56 billion missed consensus, and analysts maintain a consensus "Buy" rating with an average target of $88.44.

Assetmark Inc. grew its holdings in shares of Xcel Energy Inc. (NASDAQ:XEL - Free Report) by 12.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 167,682 shares of the company's stock after purchasing an additional 18,330 shares during the period. Assetmark Inc.'s holdings in Xcel Energy were worth $12,385,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Brighton Jones LLC acquired a new stake in shares of Xcel Energy during the 4th quarter valued at $240,000. Empowered Funds LLC lifted its holdings in shares of Xcel Energy by 30.7% during the first quarter. Empowered Funds LLC now owns 13,810 shares of the company's stock valued at $978,000 after purchasing an additional 3,242 shares during the last quarter. Woodline Partners LP boosted its position in shares of Xcel Energy by 40.7% in the 1st quarter. Woodline Partners LP now owns 48,515 shares of the company's stock valued at $3,434,000 after purchasing an additional 14,029 shares during the period. Brown Advisory Inc. boosted its position in shares of Xcel Energy by 4.8% in the 2nd quarter. Brown Advisory Inc. now owns 10,193 shares of the company's stock valued at $694,000 after purchasing an additional 469 shares during the period. Finally, Cary Street Partners Financial LLC increased its stake in Xcel Energy by 16.0% in the 2nd quarter. Cary Street Partners Financial LLC now owns 2,620 shares of the company's stock worth $178,000 after purchasing an additional 362 shares in the last quarter. 78.38% of the stock is currently owned by institutional investors.

Xcel Energy Stock Performance

Shares of XEL opened at $81.05 on Friday. The company has a market capitalization of $50.59 billion, a PE ratio of 23.70, a PEG ratio of 2.15 and a beta of 0.43. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.60 and a current ratio of 0.71. The company's 50 day moving average price is $80.57 and its 200 day moving average price is $78.80. Xcel Energy Inc. has a 52 week low of $65.21 and a 52 week high of $84.23.

Xcel Energy (NASDAQ:XEL - Get Free Report) last released its earnings results on Wednesday, February 4th. The company reported $0.96 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.96. Xcel Energy had a net margin of 13.76% and a return on equity of 10.46%. The company had revenue of $3.56 billion during the quarter, compared to the consensus estimate of $3.77 billion. During the same quarter in the prior year, the firm earned $0.81 EPS. The company's revenue was up 14.1% compared to the same quarter last year. Research analysts expect that Xcel Energy Inc. will post 3.82 EPS for the current fiscal year.

Xcel Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 20th. Shareholders of record on Friday, March 13th will be paid a $0.5925 dividend. This represents a $2.37 dividend on an annualized basis and a yield of 2.9%. This is an increase from Xcel Energy's previous quarterly dividend of $0.57. The ex-dividend date is Friday, March 13th. Xcel Energy's dividend payout ratio is presently 69.30%.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Royal Bank Of Canada reiterated an "outperform" rating and issued a $95.00 target price on shares of Xcel Energy in a report on Friday, January 23rd. Weiss Ratings upgraded shares of Xcel Energy from a "hold (c+)" rating to a "buy (b-)" rating in a report on Friday, March 20th. Barclays reduced their price target on shares of Xcel Energy from $85.00 to $82.00 and set an "overweight" rating for the company in a research report on Thursday, January 15th. Morgan Stanley set a $91.00 price objective on shares of Xcel Energy in a research note on Friday, February 20th. Finally, BMO Capital Markets reissued an "outperform" rating and set a $90.00 target price on shares of Xcel Energy in a research note on Friday, February 6th. Three equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $88.44.

Xcel Energy Profile

Xcel Energy NASDAQ: XEL is a Minneapolis-based, publicly traded utility holding company that develops, owns and operates regulated electricity and natural gas delivery systems. The company's core activities include generation, transmission and distribution of electricity, the delivery of natural gas to customers, and related customer service operations. Xcel provides a mix of utility services to residential, commercial and industrial customers and participates in wholesale energy markets where appropriate.

Its generation portfolio combines nuclear, natural gas, coal and a growing share of renewable resources such as wind and solar.

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