Envestnet Portfolio Solutions Inc. Trims Stock Holdings in Xcel Energy Inc. (NASDAQ:XEL)

Envestnet Portfolio Solutions Inc. lessened its stake in shares of Xcel Energy Inc. (NASDAQ:XEL) by 1.2% in the fourth quarter, HoldingsChannel reports. The firm owned 58,871 shares of the company’s stock after selling 702 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Xcel Energy were worth $3,975,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp lifted its stake in shares of Xcel Energy by 6.7% during the 3rd quarter. State Street Corp now owns 37,143,025 shares of the company’s stock worth $2,445,477,000 after purchasing an additional 2,323,448 shares during the period. Brookfield Corp ON boosted its stake in Xcel Energy by 520.1% in the 3rd quarter. Brookfield Corp ON now owns 2,509,031 shares of the company’s stock worth $163,840,000 after buying an additional 2,104,405 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Xcel Energy in the 4th quarter valued at about $83,653,000. Reaves W H & Co. Inc. increased its stake in shares of Xcel Energy by 440.2% during the 4th quarter. Reaves W H & Co. Inc. now owns 1,455,927 shares of the company’s stock valued at $98,304,000 after acquiring an additional 1,186,427 shares during the last quarter. Finally, Burkehill Global Management LP purchased a new position in shares of Xcel Energy during the 4th quarter worth about $67,520,000. Institutional investors and hedge funds own 78.38% of the company’s stock.

Xcel Energy Stock Up 0.5 %

NASDAQ XEL opened at $70.28 on Wednesday. The stock has a market cap of $40.38 billion, a PE ratio of 20.43, a P/E/G ratio of 2.62 and a beta of 0.37. The business has a 50 day moving average price of $67.94 and a two-hundred day moving average price of $66.92. Xcel Energy Inc. has a fifty-two week low of $51.58 and a fifty-two week high of $73.38. The company has a quick ratio of 0.82, a current ratio of 0.93 and a debt-to-equity ratio of 1.42.

Xcel Energy (NASDAQ:XEL) last announced its earnings results on Thursday, February 6th. The company reported $0.81 earnings per share 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%. As a group, sell-side analysts predict that Xcel Energy Inc. will post 3.82 EPS for the current fiscal year.

Xcel Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Sunday, April 20th. Stockholders of record on Friday, March 14th will be given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.24%. This is a positive change from Xcel Energy’s previous quarterly dividend of $0.55. The ex-dividend date is Friday, March 14th. Xcel Energy’s payout ratio is presently 66.28%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Morgan Stanley lowered 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 report on Friday, November 22nd. JPMorgan Chase & Co. upgraded Xcel Energy from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $69.00 to $80.00 in a report on Thursday, December 12th. 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 report on Friday, February 7th. KeyCorp upped their price target on Xcel Energy from $74.00 to $79.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Finally, Barclays reduced their price objective on Xcel Energy from $71.00 to $69.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 22nd. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $71.10.

Insider Activity at Xcel Energy

In other Xcel Energy news, Director Devin W. Stockfish bought 2,170 shares of the business’s stock in a transaction on Tuesday, March 11th. The shares were bought at an average cost of $68.93 per share, with a total value of $149,578.10. Following the transaction, the director now directly owns 3,007 shares in the company, valued at approximately $207,272.51. This trade represents a 259.26 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.09% of the stock is currently owned by company 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.