Corebridge Financial Inc. Has $11.70 Million Stock Holdings in Xcel Energy Inc. (NASDAQ:XEL)

Corebridge Financial Inc. trimmed its holdings in shares of Xcel Energy Inc. (NASDAQ:XEL) by 0.9% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 173,316 shares of the company’s stock after selling 1,549 shares during the period. Corebridge Financial Inc.’s holdings in Xcel Energy were worth $11,702,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in XEL. Sierra Ocean LLC bought a new position in Xcel Energy during the fourth quarter worth about $26,000. Fairway Wealth LLC acquired a new position in shares of Xcel Energy in the 4th quarter worth approximately $27,000. Crews Bank & Trust bought a new position in shares of Xcel Energy during the 4th quarter worth approximately $34,000. MCF Advisors LLC boosted its stake in 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 in the last quarter. Finally, First Financial Corp IN bought a new stake in Xcel Energy in the fourth quarter valued at $46,000. Institutional investors own 78.38% of the company’s stock.

Xcel Energy Stock Down 1.4 %

Shares of NASDAQ XEL opened at $67.93 on Wednesday. Xcel Energy Inc. has a 1 year low of $51.58 and a 1 year high of $73.38. The firm’s 50-day moving average is $68.39 and its 200-day moving average is $67.15. The company has a current ratio of 0.93, a quick ratio of 0.82 and a debt-to-equity ratio of 1.42. The firm has a market capitalization of $39.03 billion, a PE ratio of 19.75, a price-to-earnings-growth ratio of 2.62 and a beta of 0.37.

Xcel Energy (NASDAQ:XEL) last released its earnings results 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%. Equities analysts expect that Xcel Energy Inc. will post 3.82 EPS for the current 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 paid a $0.57 dividend. This is a positive change from Xcel Energy’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend is Friday, March 14th. This represents a $2.28 annualized dividend and a yield of 3.36%. Xcel Energy’s dividend payout ratio is presently 66.28%.

Analyst Ratings Changes

Several equities research analysts have recently commented on XEL shares. Wells Fargo & Company boosted their target price on shares of Xcel Energy from $72.00 to $75.00 and gave the company an “overweight” rating in a research note on Friday, February 7th. KeyCorp upped their price objective on shares of Xcel Energy from $74.00 to $79.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Morgan Stanley lifted their target price on shares of Xcel Energy from $75.00 to $78.00 and gave the company an “equal weight” rating in a research note on Thursday, March 20th. JPMorgan Chase & Co. upgraded 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 research report on Thursday, December 12th. Finally, Barclays cut their price objective on Xcel Energy from $71.00 to $69.00 and set an “overweight” rating for the company in a research report on Wednesday, January 22nd. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $72.30.

Insider Transactions at Xcel Energy

In other news, Director Devin W. Stockfish purchased 2,170 shares of the business’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 transaction, the director now directly 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 acquisition was disclosed in a filing with the SEC, which is available at this link. Corporate 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.