Xcel Energy Inc. (NASDAQ:XEL) Stake Raised by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA lifted its holdings in Xcel Energy Inc. (NASDAQ:XEL) by 236.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,878,279 shares of the company’s stock after purchasing an additional 3,429,353 shares during the period. Pictet Asset Management Holding SA’s holdings in Xcel Energy were worth $329,381,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Sierra Ocean LLC acquired a new stake in Xcel Energy during the 4th quarter valued at $26,000. Fairway Wealth LLC acquired a new position in Xcel Energy during the fourth quarter valued at $27,000. Crews Bank & Trust acquired a new position in Xcel Energy during the fourth quarter valued at $34,000. MCF Advisors LLC lifted its stake in Xcel Energy by 566.3% in the 4th quarter. MCF Advisors LLC now owns 593 shares of the company’s stock worth $40,000 after acquiring an additional 504 shares in the last quarter. Finally, First Financial Corp IN acquired a new stake in Xcel Energy during the 4th quarter worth about $46,000. Institutional investors and hedge funds own 78.38% of the company’s stock.

Wall Street Analyst Weigh In

XEL has been the topic of a number of research reports. JPMorgan Chase & Co. upgraded Xcel Energy from a “neutral” rating to an “overweight” rating and upped their target price for the company from $69.00 to $80.00 in a report on Thursday, December 12th. Morgan Stanley increased their target price 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 lowered their price target on shares of Xcel Energy from $71.00 to $69.00 and set an “overweight” rating on the stock in a report on Wednesday, January 22nd. UBS Group increased their price objective on Xcel Energy from $70.00 to $73.00 and gave the stock a “neutral” rating in a report on Friday, March 21st. Finally, KeyCorp boosted their target price on Xcel Energy from $74.00 to $79.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $72.30.

Insider Activity at Xcel Energy

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

Xcel Energy Stock Up 0.6 %

XEL opened at $69.32 on Friday. Xcel Energy Inc. has a twelve month low of $51.97 and a twelve month high of $73.38. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.82 and a current ratio of 0.93. The business has a 50 day moving average price of $68.53 and a 200 day moving average price of $67.18. The firm has a market cap of $39.83 billion, a P/E ratio of 20.15, a price-to-earnings-growth ratio of 2.62 and a beta of 0.37.

Xcel Energy (NASDAQ:XEL) last posted its quarterly earnings data 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 return on equity of 10.65% and a net margin of 14.40%. Research analysts forecast that Xcel Energy Inc. will post 3.82 EPS for the current year.

Xcel Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, April 20th. Stockholders of record on Friday, March 14th will be paid a $0.57 dividend. The ex-dividend date of this dividend is Friday, March 14th. This is a positive change from Xcel Energy’s previous quarterly dividend of $0.55. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.29%. Xcel Energy’s payout ratio is presently 66.28%.

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.