Covestor Ltd Sells 1,100 Shares of Xcel Energy Inc. (NASDAQ:XEL)

Covestor Ltd decreased its holdings in Xcel Energy Inc. (NASDAQ:XEL) by 39.0% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,722 shares of the company’s stock after selling 1,100 shares during the quarter. Covestor Ltd’s holdings in Xcel Energy were worth $116,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of XEL. Virtu Financial LLC boosted its stake in shares of Xcel Energy by 12.0% in the 3rd quarter. Virtu Financial LLC now owns 4,347 shares of the company’s stock worth $284,000 after buying an additional 466 shares during the last quarter. Stock Yards Bank & Trust Co. increased its position in Xcel Energy by 12.6% during the third quarter. Stock Yards Bank & Trust Co. now owns 5,984 shares of the company’s stock valued at $391,000 after acquiring an additional 668 shares during the last quarter. Sanctuary Advisors LLC lifted its holdings in Xcel Energy by 28.7% in the third quarter. Sanctuary Advisors LLC now owns 82,826 shares of the company’s stock valued at $5,910,000 after acquiring an additional 18,489 shares during the period. Wilmington Savings Fund Society FSB purchased a new position in Xcel Energy in the third quarter worth about $1,124,000. Finally, Synovus Financial Corp grew its stake in shares of Xcel Energy by 17.7% during the 3rd quarter. Synovus Financial Corp now owns 5,795 shares of the company’s stock valued at $378,000 after purchasing an additional 873 shares during the period. Institutional investors own 78.38% of the company’s stock.

Wall Street Analyst Weigh In

XEL has been the topic of a number of research reports. UBS Group raised their price objective on shares of Xcel Energy from $73.00 to $77.00 and gave the stock a “neutral” rating in a report on Tuesday, April 1st. Barclays lifted their price target on shares of Xcel Energy from $69.00 to $72.00 and gave the stock an “overweight” rating in a research note on Monday, March 31st. Wells Fargo & Company upped their price objective on Xcel Energy from $72.00 to $75.00 and gave the stock an “overweight” rating in a research note on Friday, February 7th. Finally, Morgan Stanley raised their target price on Xcel Energy from $75.00 to $78.00 and gave the stock an “equal weight” rating in a report on Thursday, March 20th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $73.00.

Xcel Energy Price Performance

NASDAQ:XEL opened at $69.56 on Friday. The business’s 50-day simple moving average is $69.09 and its two-hundred day simple moving average is $67.63. Xcel Energy Inc. has a 52 week low of $51.97 and a 52 week high of $73.38. The stock has a market cap of $39.97 billion, a PE ratio of 20.22, a P/E/G ratio of 2.62 and a beta of 0.39. The company has a quick ratio of 0.82, a current ratio of 0.93 and a debt-to-equity ratio of 1.42.

Xcel Energy (NASDAQ:XEL) last issued its earnings results on Thursday, February 6th. The company reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.06). Xcel Energy had a net margin of 14.40% and a return on equity of 10.65%. As a group, analysts forecast that Xcel Energy Inc. will post 3.82 EPS for the current fiscal year.

Xcel Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, April 20th. Stockholders of record on Friday, March 14th will be issued a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 3.28%. The ex-dividend date of this dividend is Friday, March 14th. This is an increase from Xcel Energy’s previous quarterly dividend of $0.55. Xcel Energy’s payout ratio is 66.28%.

Insider Buying and Selling

In other news, Director Devin W. Stockfish bought 2,170 shares of Xcel Energy stock in a transaction dated Tuesday, March 11th. The shares were purchased at an average cost of $68.93 per share, with a total value of $149,578.10. Following the completion of the acquisition, the director now owns 3,007 shares of the company’s stock, valued at $207,272.51. This trade represents a 259.26 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.09% of the stock is owned by company insiders.

Xcel Energy 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.