Xcel Energy Inc. (NASDAQ:XEL) Shares Bought by HITE Hedge Asset Management LLC

HITE Hedge Asset Management LLC increased its holdings in Xcel Energy Inc. (NASDAQ:XEL) by 107.1% during the 4th quarter, HoldingsChannel reports. The fund owned 656,797 shares of the company’s stock after acquiring an additional 339,680 shares during the quarter. Xcel Energy comprises approximately 3.3% of HITE Hedge Asset Management LLC’s investment portfolio, making the stock its 7th largest holding. HITE Hedge Asset Management LLC’s holdings in Xcel Energy were worth $44,347,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in XEL. Sierra Ocean LLC acquired a new stake in shares of Xcel Energy in the 4th quarter valued at about $26,000. Fairway Wealth LLC bought a new stake in shares of Xcel Energy in the 4th quarter valued at approximately $27,000. Crews Bank & Trust acquired a new stake in shares of Xcel Energy during the fourth quarter worth $34,000. MCF Advisors LLC boosted its holdings in shares of 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 buying an additional 504 shares during the period. Finally, First Financial Corp IN bought a new stake in shares of Xcel Energy during the 4th quarter valued at about $46,000. 78.38% of the stock is currently owned by hedge funds and other institutional investors.

Xcel Energy Price Performance

NASDAQ XEL opened at $70.13 on Friday. The firm has a market capitalization of $40.40 billion, a PE ratio of 20.39, a P/E/G ratio of 2.62 and a beta of 0.39. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.93 and a quick ratio of 0.82. Xcel Energy Inc. has a 12 month low of $51.97 and a 12 month high of $73.38. The company’s 50 day simple moving average is $69.32 and its 200 day simple moving average is $67.76.

Xcel Energy (NASDAQ:XEL) last posted its quarterly earnings data on Thursday, February 6th. The company reported $0.81 EPS 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, equities research analysts forecast that Xcel Energy Inc. will post 3.82 EPS for the current fiscal year.

Xcel Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, April 20th. Shareholders of record on Friday, March 14th will be issued a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 3.25%. This is an increase from Xcel Energy’s previous quarterly dividend of $0.55. The ex-dividend date is Friday, March 14th. Xcel Energy’s dividend payout ratio is presently 66.28%.

Analyst Ratings Changes

A number of equities analysts have commented on XEL shares. Morgan Stanley lifted their target price on Xcel Energy from $75.00 to $78.00 and gave the company an “equal weight” rating in a research note on Thursday, March 20th. Wells Fargo & Company upped their price objective on Xcel Energy from $72.00 to $75.00 and gave the stock an “overweight” rating in a research note on Friday, February 7th. UBS Group raised their target price on Xcel Energy from $73.00 to $77.00 and gave the company a “neutral” rating in a research note on Tuesday, April 1st. Finally, Barclays increased their price objective on shares of Xcel Energy from $69.00 to $72.00 and gave the stock an “overweight” rating in a report on Monday, March 31st. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $73.00.

Insider Activity

In related news, Director Devin W. Stockfish bought 2,170 shares of the firm’s stock in a transaction that occurred on Tuesday, March 11th. The shares were acquired at an average cost of $68.93 per share, for a total transaction of $149,578.10. Following the acquisition, the director now directly owns 3,007 shares of the company’s stock, valued at $207,272.51. The trade was a 259.26 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. 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.