Avantax Advisory Services Inc. Buys 4,264 Shares of Xcel Energy Inc. (NASDAQ:XEL)

Avantax Advisory Services Inc. boosted its stake in shares of Xcel Energy Inc. (NASDAQ:XEL) by 13.9% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 34,942 shares of the company’s stock after buying an additional 4,264 shares during the quarter. Avantax Advisory Services Inc.’s holdings in Xcel Energy were worth $2,359,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Dakota Wealth Management boosted its position in Xcel Energy by 0.7% during the fourth 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 boosted its position in Xcel Energy by 26.0% during the fourth quarter. Rothschild Investment LLC now owns 731 shares of the company’s stock worth $49,000 after purchasing an additional 151 shares during the period. GenTrust LLC boosted its position in Xcel Energy by 4.5% during the fourth quarter. GenTrust LLC now owns 3,602 shares of the company’s stock worth $243,000 after purchasing an additional 155 shares during the period. Integris Wealth Management LLC boosted its position in Xcel Energy by 2.6% during the fourth 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. Finally, EverSource Wealth Advisors LLC boosted its position in Xcel Energy by 1.8% during the fourth quarter. EverSource Wealth Advisors LLC now owns 9,242 shares of the company’s stock worth $624,000 after purchasing an additional 160 shares during the period. Institutional investors own 78.38% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Morgan Stanley cut their target price on shares of Xcel Energy from $74.00 to $72.00 and set an “equal weight” rating for the company in a research report on Friday, November 22nd. KeyCorp increased their price target on shares of Xcel Energy from $74.00 to $79.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. 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. JPMorgan Chase & Co. raised shares of Xcel Energy from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $69.00 to $80.00 in a report on Thursday, December 12th. Finally, Wells Fargo & Company increased their price target on shares of Xcel Energy from $72.00 to $75.00 and gave the stock an “overweight” rating in a report on Friday, February 7th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $71.10.

Xcel Energy Trading Up 1.6 %

Shares of Xcel Energy stock opened at $69.75 on Monday. Xcel Energy Inc. has a 1 year low of $51.37 and a 1 year high of $73.38. The firm has a market cap of $40.08 billion, a PE ratio of 20.28, a PEG ratio of 2.62 and a beta of 0.37. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.93 and a quick ratio of 0.82. The company has a 50 day simple moving average of $67.75 and a two-hundred day simple moving average of $66.80.

Xcel Energy (NASDAQ:XEL) last announced its earnings results 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%. Analysts expect that Xcel Energy Inc. will post 3.82 earnings per share for the current fiscal year.

Xcel Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, April 20th. Shareholders of record on Friday, March 14th will be given a dividend of $0.57 per share. 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 annualized dividend and a yield of 3.27%. Xcel Energy’s payout ratio is presently 66.28%.

Insider Transactions at Xcel Energy

In other Xcel Energy news, Director Devin W. Stockfish acquired 2,170 shares of the stock in a transaction dated Tuesday, March 11th. The stock was purchased at an average cost of $68.93 per share, for a total transaction of $149,578.10. Following the acquisition, the director now owns 3,007 shares in the company, valued at $207,272.51. The trade was a 259.26 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.09% of the company’s stock.

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.