Cresset Asset Management LLC Reduces Stake in Xcel Energy Inc. (NASDAQ:XEL)

Cresset Asset Management LLC trimmed its position in shares of Xcel Energy Inc. (NASDAQ:XEL - Free Report) by 77.0% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 10,736 shares of the company's stock after selling 36,012 shares during the quarter. Cresset Asset Management LLC's holdings in Xcel Energy were worth $725,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Sierra Ocean LLC acquired a new position in Xcel Energy during the fourth quarter worth $26,000. Fairway Wealth LLC acquired a new position in shares of Xcel Energy in the 4th quarter valued at $27,000. Crews Bank & Trust acquired a new position in shares of Xcel Energy in the 4th quarter valued at $34,000. MCF Advisors LLC lifted its stake in shares of Xcel Energy by 566.3% in the 4th quarter. MCF Advisors LLC now owns 593 shares of the company's stock valued at $40,000 after purchasing an additional 504 shares during the last quarter. Finally, First Financial Corp IN acquired a new position in shares of Xcel Energy in the 4th quarter valued at $46,000. 78.38% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Xcel Energy news, Director Devin W. Stockfish acquired 2,170 shares of the company's stock in a transaction dated Tuesday, March 11th. The shares were acquired at an average price of $68.93 per share, for a total transaction of $149,578.10. Following the acquisition, the director now owns 3,007 shares in the company, valued at $207,272.51. The trade was a 259.26% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.09% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several brokerages have recently commented on XEL. Barclays upped their price target on Xcel Energy from $72.00 to $73.00 and gave the company an "overweight" rating in a research note on Tuesday, April 22nd. StockNews.com raised Xcel Energy from a "sell" rating to a "hold" rating in a research note on Friday, May 2nd. UBS Group upped their price target on Xcel Energy from $73.00 to $77.00 and gave the company a "neutral" rating in a research note on Tuesday, April 1st. Wells Fargo & Company set a $78.00 price target on Xcel Energy and gave the company an "overweight" rating in a research note on Friday, April 25th. Finally, Morgan Stanley set a $79.00 price target on Xcel Energy and gave the company an "outperform" rating in a research note on Wednesday, April 23rd. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $76.00.

Xcel Energy Trading Up 1.6%

XEL traded up $1.12 during mid-day trading on Friday, hitting $72.38. 7,152,902 shares of the stock were exchanged, compared to its average volume of 3,622,581. The firm's fifty day moving average is $69.73 and its two-hundred day moving average is $68.71. 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. The company has a market cap of $41.75 billion, a PE ratio of 21.04, a PEG ratio of 2.62 and a beta of 0.38.

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 for the quarter, missing the consensus estimate of $0.95 by ($0.11). Xcel Energy had a return on equity of 10.65% and a net margin of 14.40%. The company had revenue of $3.91 billion for the quarter, compared to analysts' expectations of $3.93 billion. During the same quarter last year, the company earned $0.88 EPS. Xcel Energy's revenue for the quarter was up 7.0% compared to the same quarter last year. Equities analysts forecast that Xcel Energy Inc. will post 3.82 earnings per share for the current fiscal year.

Xcel Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, April 20th. Shareholders of record on Friday, March 14th were issued a dividend of $0.57 per share. This is an increase from Xcel Energy's previous quarterly dividend of $0.55. The ex-dividend date of this dividend was Friday, March 14th. This represents a $2.28 annualized dividend and a yield of 3.15%. Xcel Energy's dividend payout ratio is 67.06%.

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.