Fortress Financial Group LLC Buys New Position in Xcel Energy Inc. (NASDAQ:XEL)

Fortress Financial Group LLC purchased a new position in Xcel Energy Inc. (NASDAQ:XEL) during the 4th quarter, Holdings Channel reports. The fund purchased 3,516 shares of the company’s stock, valued at approximately $237,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Dakota Wealth Management raised its holdings in Xcel Energy by 0.7% in the 4th quarter. Dakota Wealth Management now owns 23,130 shares of the company’s stock worth $1,562,000 after purchasing an additional 151 shares during the period. Rothschild Investment LLC increased its holdings in Xcel Energy by 26.0% in the 4th quarter. Rothschild Investment LLC now owns 731 shares of the company’s stock worth $49,000 after acquiring an additional 151 shares in the last quarter. GenTrust LLC raised its stake in 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. Integris Wealth Management LLC raised its stake in Xcel Energy by 2.6% during the 4th quarter. Integris Wealth Management LLC now owns 6,323 shares of the company’s stock worth $427,000 after acquiring an additional 160 shares during the period. Finally, Bond & Devick Financial Network Inc. lifted its holdings in Xcel Energy by 1.1% during the third quarter. Bond & Devick Financial Network Inc. now owns 15,972 shares of the company’s stock valued at $1,043,000 after purchasing an additional 168 shares in the last quarter. Hedge funds and other institutional investors own 78.38% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on XEL. Morgan Stanley decreased their price objective on shares of Xcel Energy from $74.00 to $72.00 and set an “equal weight” rating on the stock in a research report on Friday, November 22nd. Wells Fargo & Company lifted their target price on Xcel Energy from $72.00 to $75.00 and gave the company an “overweight” rating in a research note on Friday, February 7th. Jefferies Financial Group upgraded Xcel Energy from a “hold” rating to a “buy” rating and upped their price target for the stock from $71.00 to $76.00 in a research note on Friday, November 1st. JPMorgan Chase & Co. raised shares of Xcel Energy from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $69.00 to $80.00 in a report on Thursday, December 12th. Finally, KeyCorp upped their target price on shares of Xcel Energy from $74.00 to $79.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Xcel Energy has an average rating of “Moderate Buy” and an average price target of $69.91.

Xcel Energy Price Performance

XEL stock opened at $70.76 on Friday. The company has a fifty day simple moving average of $67.36 and a two-hundred day simple moving average of $65.97. 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 firm has a market capitalization of $40.63 billion, a P/E ratio of 20.57, a price-to-earnings-growth ratio of 2.62 and a beta of 0.43. Xcel Energy Inc. has a 52 week low of $46.79 and a 52 week high of $73.38.

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

Xcel Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, April 20th. Stockholders of record on Friday, March 14th will be issued a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 3.22%. 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. Xcel Energy’s dividend payout ratio (DPR) is 63.66%.

Xcel Energy 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.