Princeton Global Asset Management LLC Increases Position in Xcel Energy Inc. $XEL

Princeton Global Asset Management LLC increased its holdings in Xcel Energy Inc. (NASDAQ:XEL) by 70,585.0% in the 4th quarter, HoldingsChannel.com reports. The fund owned 42,411 shares of the company’s stock after buying an additional 42,351 shares during the period. Princeton Global Asset Management LLC’s holdings in Xcel Energy were worth $3,132,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Twin Peaks Wealth Advisors LLC bought a new stake in Xcel Energy during the second quarter worth $25,000. ORG Partners LLC grew its stake in Xcel Energy by 168.4% in the 3rd quarter. ORG Partners LLC now owns 314 shares of the company’s stock valued at $25,000 after purchasing an additional 197 shares during the period. Vermillion & White Wealth Management Group LLC bought a new position in Xcel Energy in the 3rd quarter valued at $27,000. Abound Wealth Management increased its position in shares of Xcel Energy by 394.5% during the 4th quarter. Abound Wealth Management now owns 361 shares of the company’s stock valued at $27,000 after purchasing an additional 288 shares during the last quarter. Finally, First Command Advisory Services Inc. bought a new stake in shares of Xcel Energy during the 3rd quarter worth $32,000. 78.38% of the stock is owned by hedge funds and other institutional investors.

Xcel Energy Stock Performance

NASDAQ:XEL opened at $80.74 on Friday. The business’s 50-day moving average price is $79.67 and its two-hundred day moving average price is $78.43. Xcel Energy Inc. has a twelve month low of $65.21 and a twelve month high of $84.23. The stock has a market cap of $50.37 billion, a P/E ratio of 23.61, a PEG ratio of 2.21 and a beta of 0.43. The company has a quick ratio of 0.60, a current ratio of 0.71 and a debt-to-equity ratio of 1.35.

Xcel Energy (NASDAQ:XEL) last issued its quarterly earnings results on Wednesday, February 4th. The company reported $0.96 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.96. Xcel Energy had a return on equity of 10.46% and a net margin of 13.76%.The firm had revenue of $3.56 billion during the quarter, compared to the consensus estimate of $3.77 billion. During the same quarter last year, the company posted $0.81 EPS. The company’s revenue for the quarter was up 14.1% on a year-over-year basis. As a group, equities analysts predict that Xcel Energy Inc. will post 3.82 EPS for the current fiscal year.

Xcel Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 20th. Shareholders of record on Friday, March 13th will be paid a $0.5925 dividend. The ex-dividend date of this dividend is Friday, March 13th. This represents a $2.37 dividend on an annualized basis and a yield of 2.9%. This is a boost from Xcel Energy’s previous quarterly dividend of $0.57. Xcel Energy’s dividend payout ratio is presently 69.30%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on XEL. Argus set a $86.00 price target on shares of Xcel Energy in a report on Thursday, March 12th. Morgan Stanley set a $91.00 target price on shares of Xcel Energy in a report on Friday, February 20th. BTIG Research set a $94.00 target price on shares of Xcel Energy in a research note on Friday, January 30th. KeyCorp cut their price target on shares of Xcel Energy from $85.00 to $84.00 and set an “overweight” rating for the company in a report on Friday, December 12th. Finally, UBS Group reduced their price target on shares of Xcel Energy from $93.00 to $89.00 and set a “buy” rating for the company in a research report on Tuesday, March 24th. Three equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Xcel Energy presently has an average rating of “Buy” and an average target price of $88.44.

Xcel Energy Profile

Xcel Energy (NASDAQ: XEL) is a Minneapolis-based, publicly traded utility holding company that develops, owns and operates regulated electricity and natural gas delivery systems. The company’s core activities include generation, transmission and distribution of electricity, the delivery of natural gas to customers, and related customer service operations. Xcel provides a mix of utility services to residential, commercial and industrial customers and participates in wholesale energy markets where appropriate.

Its generation portfolio combines nuclear, natural gas, coal and a growing share of renewable resources such as wind and solar.