Parallel Advisors LLC Grows Stock Position in Xcel Energy Inc. (NASDAQ:XEL)

Parallel Advisors LLC increased its position in shares of Xcel Energy Inc. (NASDAQ:XEL) by 36.5% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,928 shares of the company’s stock after purchasing an additional 1,318 shares during the quarter. Parallel Advisors LLC’s holdings in Xcel Energy were worth $333,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the company. Sierra Ocean LLC purchased a new stake in shares of Xcel Energy during the fourth quarter worth $26,000. Fairway Wealth LLC acquired a new position in Xcel Energy during the fourth quarter worth about $27,000. Crews Bank & Trust purchased a new stake in Xcel Energy during the 4th quarter valued at about $34,000. MCF Advisors LLC raised its holdings in 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 acquiring an additional 504 shares during the last quarter. Finally, First Financial Corp IN purchased a new position in Xcel Energy in the 4th quarter worth approximately $46,000. 78.38% of the stock is owned by institutional investors and hedge funds.

Xcel Energy Stock Down 1.4 %

Shares of NASDAQ XEL opened at $69.11 on Friday. The company has a quick ratio of 0.82, a current ratio of 0.93 and a debt-to-equity ratio of 1.42. The business’s 50 day moving average is $68.21 and its two-hundred day moving average is $67.02. Xcel Energy Inc. has a 52-week low of $51.58 and a 52-week high of $73.38. The firm has a market cap of $39.71 billion, a price-to-earnings ratio of 20.09, a PEG 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 net margin of 14.40% and a return on equity of 10.65%. Research analysts predict 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. This is a positive change from Xcel Energy’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend is Friday, March 14th. This represents a $2.28 annualized dividend and a dividend yield of 3.30%. Xcel Energy’s dividend payout ratio (DPR) is presently 66.28%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Barclays dropped their price target on Xcel Energy from $71.00 to $69.00 and set an “overweight” rating for the company in a research report on Wednesday, January 22nd. Wells Fargo & Company raised their target price on Xcel Energy from $72.00 to $75.00 and gave the stock an “overweight” rating in a research note on Friday, February 7th. JPMorgan Chase & Co. raised shares of Xcel Energy from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $69.00 to $80.00 in a research report on Thursday, December 12th. Morgan Stanley raised their price objective 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. Finally, KeyCorp boosted their target price on shares of Xcel Energy from $74.00 to $79.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, Xcel Energy currently has an average rating of “Moderate Buy” and a consensus price target of $72.30.

Insider Activity at Xcel Energy

In related news, Director Devin W. Stockfish bought 2,170 shares of the stock in a transaction that occurred on Tuesday, March 11th. The stock was purchased at an average cost of $68.93 per share, with a total value of $149,578.10. Following the purchase, the director now directly 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 purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 0.09% of the company’s stock.

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.