Cibc World Markets Corp Raises Stake in Xcel Energy Inc. (NASDAQ:XEL)

Cibc World Markets Corp grew its stake in shares of Xcel Energy Inc. (NASDAQ:XEL) by 16.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 102,594 shares of the company’s stock after buying an additional 14,779 shares during the period. Cibc World Markets Corp’s holdings in Xcel Energy were worth $6,927,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Barclays cut their price target on shares of Xcel Energy from $71.00 to $69.00 and set an “overweight” rating for the company in a research note on Wednesday, January 22nd. KeyCorp upped their target price on shares of Xcel Energy from $74.00 to $79.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. JPMorgan Chase & Co. upgraded Xcel Energy from a “neutral” rating to an “overweight” rating and raised their price target for the company from $69.00 to $80.00 in a research report on Thursday, December 12th. Morgan Stanley cut their price objective on Xcel Energy from $74.00 to $72.00 and set an “equal weight” rating for the company in a report on Friday, November 22nd. Finally, Wells Fargo & Company raised their price objective on Xcel Energy from $72.00 to $75.00 and gave the company an “overweight” rating in a report on Friday, February 7th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Xcel Energy currently has a consensus rating of “Moderate Buy” and an average price target of $71.10.

Xcel Energy Stock Performance

NASDAQ:XEL opened at $70.28 on Wednesday. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.82 and a current ratio of 0.93. Xcel Energy Inc. has a fifty-two week low of $51.58 and a fifty-two week high of $73.38. The firm has a market cap of $40.38 billion, a PE ratio of 20.43, a price-to-earnings-growth ratio of 2.62 and a beta of 0.37. The business has a 50 day moving average price of $67.94 and a 200-day moving average price of $66.92.

Xcel Energy (NASDAQ:XEL) last announced its quarterly earnings results on Thursday, February 6th. The company reported $0.81 earnings per share 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%. Equities research analysts predict that Xcel Energy Inc. will post 3.82 earnings per share for the current year.

Xcel Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, April 20th. Investors of record on Friday, March 14th will be issued a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 3.24%. The ex-dividend date is Friday, March 14th. This is an increase from Xcel Energy’s previous quarterly dividend of $0.55. Xcel Energy’s payout ratio is currently 66.28%.

Insider Buying and Selling at Xcel Energy

In related news, Director Devin W. Stockfish acquired 2,170 shares of Xcel Energy stock in a transaction on Tuesday, March 11th. The shares were acquired at an average cost of $68.93 per share, with a total value of $149,578.10. Following the transaction, the director now owns 3,007 shares in the company, valued at $207,272.51. This trade represents a 259.26 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.09% of the stock is currently owned by corporate insiders.

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.