Martingale Asset Management L P Has $8.82 Million Stock Position in Xcel Energy Inc. (NASDAQ:XEL)

Martingale Asset Management L P reduced its stake in Xcel Energy Inc. (NASDAQ:XEL) by 0.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 130,674 shares of the company’s stock after selling 906 shares during the quarter. Martingale Asset Management L P’s holdings in Xcel Energy were worth $8,823,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Dakota Wealth Management boosted its position in shares of Xcel Energy by 0.7% during the fourth quarter. Dakota Wealth Management now owns 23,130 shares of the company’s stock valued at $1,562,000 after buying an additional 151 shares during the last quarter. Rothschild Investment LLC grew its stake in shares of Xcel Energy by 26.0% during the 4th quarter. Rothschild Investment LLC now owns 731 shares of the company’s stock worth $49,000 after acquiring an additional 151 shares during the period. GenTrust LLC grew its stake in shares of Xcel Energy by 4.5% during the 4th quarter. GenTrust LLC now owns 3,602 shares of the company’s stock worth $243,000 after acquiring an additional 155 shares during the period. Creative Financial Designs Inc. ADV boosted its stake in Xcel Energy by 23.2% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 827 shares of the company’s stock worth $56,000 after purchasing an additional 156 shares during the period. Finally, Integris Wealth Management LLC boosted its stake in Xcel Energy by 2.6% in the 4th quarter. Integris Wealth Management LLC now owns 6,323 shares of the company’s stock worth $427,000 after purchasing an additional 160 shares during the period. 78.38% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Xcel Energy Trading Up 2.3 %

XEL opened at $68.58 on Thursday. 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 company has a market capitalization of $39.40 billion, a P/E ratio of 19.94, a PEG ratio of 2.62 and a beta of 0.39. The stock’s fifty day moving average is $69.03 and its two-hundred day moving average is $67.57. Xcel Energy Inc. has a 52 week low of $51.97 and a 52 week high of $73.38.

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%. Analysts forecast 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 paid a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 3.32%. The ex-dividend date is Friday, March 14th. This is a positive change from Xcel Energy’s previous quarterly dividend of $0.55. Xcel Energy’s payout ratio is currently 66.28%.

Insider Buying and Selling

In other Xcel Energy news, Director Devin W. Stockfish acquired 2,170 shares of the firm’s stock in a transaction that occurred on Tuesday, March 11th. The shares were purchased 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 owns 3,007 shares of the company’s stock, valued at approximately $207,272.51. The trade was a 259.26 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.09% of the stock is currently owned by 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.