Wedbush Securities Inc. Sells 3,194 Shares of Xcel Energy Inc. (NASDAQ:XEL)

Wedbush Securities Inc. decreased its position in shares of Xcel Energy Inc. (NASDAQ:XEL) by 8.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 36,054 shares of the company’s stock after selling 3,194 shares during the period. Wedbush Securities Inc.’s holdings in Xcel Energy were worth $2,434,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Pictet Asset Management Holding SA lifted its holdings 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 valued at $329,381,000 after buying an additional 3,429,353 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in Xcel Energy by 15.9% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 17,613,239 shares of the company’s stock worth $1,189,246,000 after purchasing an additional 2,422,483 shares in the last quarter. Brookfield Corp ON lifted its holdings in shares of Xcel Energy by 520.1% in the 3rd quarter. Brookfield Corp ON now owns 2,509,031 shares of the company’s stock worth $163,840,000 after buying an additional 2,104,405 shares during the period. Raymond James Financial Inc. bought a new position in shares of Xcel Energy during the 4th quarter worth $83,653,000. Finally, Reaves W H & Co. Inc. grew its position in shares of Xcel Energy by 440.2% during the 4th quarter. Reaves W H & Co. Inc. now owns 1,455,927 shares of the company’s stock worth $98,304,000 after buying an additional 1,186,427 shares in the last quarter. Hedge funds and other institutional investors own 78.38% of the company’s stock.

Insider Activity at Xcel Energy

In other news, Director Devin W. Stockfish bought 2,170 shares of the business’s stock in a transaction that occurred on 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 transaction, the director now directly owns 3,007 shares in the company, valued at approximately $207,272.51. The trade was a 259.26 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.09% of the stock is currently owned by insiders.

Xcel Energy Price Performance

Shares of XEL opened at $67.89 on Friday. The company has a 50 day moving average of $68.96 and a two-hundred day moving average of $67.47. 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 Inc. has a twelve month low of $51.97 and a twelve month high of $73.38. The company has a market cap of $39.01 billion, a price-to-earnings ratio of 19.74, a price-to-earnings-growth ratio of 2.62 and a beta of 0.39.

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

Xcel Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, April 20th. Stockholders of record on Friday, March 14th will be issued a dividend of $0.57 per share. The ex-dividend date is Friday, March 14th. This represents a $2.28 annualized dividend and a dividend yield of 3.36%. This is an increase from Xcel Energy’s previous quarterly dividend of $0.55. Xcel Energy’s dividend payout ratio is 66.28%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on XEL shares. JPMorgan Chase & Co. upgraded Xcel Energy from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $69.00 to $80.00 in a report on Thursday, December 12th. Morgan Stanley upped their price target on shares of Xcel Energy from $75.00 to $78.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 20th. Barclays lifted their price objective on shares of Xcel Energy from $69.00 to $72.00 and gave the company an “overweight” rating in a report on Monday, March 31st. UBS Group boosted their price objective on shares of Xcel Energy from $73.00 to $77.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 1st. Finally, Wells Fargo & Company increased their target price on Xcel Energy from $72.00 to $75.00 and gave the company an “overweight” rating in a research report on Friday, February 7th. Three research analysts have rated the stock with a hold rating and eight have assigned 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 $73.00.

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.