Proficio Capital Partners LLC Makes New Investment in Xcel Energy Inc. (NASDAQ:XEL)

Proficio Capital Partners LLC acquired a new position in shares of Xcel Energy Inc. (NASDAQ:XEL) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 86,358 shares of the company’s stock, valued at approximately $5,831,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of XEL. Hodges Capital Management Inc. increased its stake in Xcel Energy by 447.1% during the fourth quarter. Hodges Capital Management Inc. now owns 51,396 shares of the company’s stock worth $3,470,000 after acquiring an additional 42,001 shares during the last quarter. Nomura Asset Management Co. Ltd. increased its position in shares of Xcel Energy by 7.0% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 189,954 shares of the company’s stock valued at $12,404,000 after purchasing an additional 12,477 shares during the last quarter. Atomi Financial Group Inc. bought a new position in shares of Xcel Energy during the 4th quarter valued at approximately $278,000. Harvest Fund Management Co. Ltd raised its holdings in Xcel Energy by 64.4% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 27,634 shares of the company’s stock valued at $1,805,000 after buying an additional 10,821 shares during the period. Finally, GEN Financial Management INC. bought a new stake in Xcel Energy in the fourth quarter worth $301,000. 78.38% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director Devin W. Stockfish purchased 2,170 shares of Xcel Energy stock in a transaction dated Tuesday, March 11th. The stock was purchased at an average cost of $68.93 per share, with a total value of $149,578.10. Following the transaction, the director now owns 3,007 shares in the company, valued at approximately $207,272.51. The trade was a 259.26 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.09% of the stock is owned by company insiders.

Xcel Energy Price Performance

XEL opened at $69.75 on Monday. The company has a market capitalization of $40.08 billion, a price-to-earnings ratio of 20.28, a PEG ratio of 2.62 and a beta of 0.37. The company has a current ratio of 0.93, a quick ratio of 0.82 and a debt-to-equity ratio of 1.42. Xcel Energy Inc. has a 12-month low of $51.37 and a 12-month high of $73.38. The business’s fifty day simple moving average is $67.75 and its 200-day simple moving average is $66.80.

Xcel Energy (NASDAQ:XEL) last issued 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 return on equity of 10.65% and a net margin of 14.40%. On average, equities research analysts anticipate that Xcel Energy Inc. will post 3.82 earnings per share for the current fiscal year.

Xcel Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, April 20th. Investors of record on Friday, March 14th will be paid a $0.57 dividend. This is an increase 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 dividend on an annualized basis and a yield of 3.27%. Xcel Energy’s payout ratio is 66.28%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on XEL. Wells Fargo & Company increased 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. JPMorgan Chase & Co. raised shares of Xcel Energy from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $69.00 to $80.00 in a research note on Thursday, December 12th. KeyCorp upped their target price on Xcel Energy from $74.00 to $79.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Morgan Stanley decreased their price target on Xcel Energy from $74.00 to $72.00 and set an “equal weight” rating for the company in a research note on Friday, November 22nd. Finally, Barclays cut their price objective on Xcel Energy from $71.00 to $69.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 22nd. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $71.10.

Xcel Energy Company 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.