Mystic Asset Management Inc. Makes New Investment in Xcel Energy Inc. (NASDAQ:XEL)

Mystic Asset Management Inc. acquired a new position in shares of Xcel Energy Inc. (NASDAQ:XEL) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 3,352 shares of the company’s stock, valued at approximately $226,000.

Other institutional investors have also recently bought and sold shares of the company. Sierra Ocean LLC purchased a new stake in shares of Xcel Energy during the 4th quarter worth about $26,000. Fairway Wealth LLC bought a new position in shares of Xcel Energy in the 4th quarter valued at approximately $27,000. Crews Bank & Trust bought a new position in shares of Xcel Energy in the 4th quarter valued at approximately $34,000. MCF Advisors LLC raised its stake in shares of 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 acquiring an additional 504 shares in the last quarter. Finally, First Financial Corp IN bought a new position in shares of Xcel Energy in the 4th quarter valued at approximately $46,000. 78.38% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

XEL has been the topic of several recent analyst reports. Morgan Stanley dropped their price target on Xcel Energy from $74.00 to $72.00 and set an “equal weight” rating on the stock in a research report on Friday, November 22nd. Barclays dropped their price target 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. JPMorgan Chase & Co. raised Xcel Energy from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $69.00 to $80.00 in a research report on Thursday, December 12th. Wells Fargo & Company lifted their price target on Xcel Energy from $72.00 to $75.00 and gave the stock an “overweight” rating in a research report on Friday, February 7th. Finally, KeyCorp lifted their price target on Xcel Energy from $74.00 to $79.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $71.10.

Insider Buying and Selling at Xcel Energy

In other Xcel Energy news, Director Devin W. Stockfish acquired 2,170 shares of the business’s stock in a transaction on Tuesday, March 11th. The stock was purchased at an average price of $68.93 per share, for a total transaction of $149,578.10. Following the transaction, the director now owns 3,007 shares in the company, valued at $207,272.51. This trade represents a 259.26 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.09% of the company’s stock.

Xcel Energy Price Performance

Shares of XEL stock opened at $70.28 on Wednesday. The stock’s fifty day simple moving average is $67.94 and its 200 day simple moving average is $66.92. 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 firm has a market cap of $40.38 billion, a price-to-earnings ratio of 20.43, a P/E/G ratio of 2.62 and a beta of 0.37. Xcel Energy Inc. has a one year low of $51.58 and a one year high of $73.38.

Xcel Energy (NASDAQ:XEL) last announced its quarterly earnings results on Thursday, February 6th. The company reported $0.81 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%. On average, analysts expect 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. Shareholders of record on Friday, March 14th will be given 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 annualized dividend and a yield of 3.24%. Xcel Energy’s payout ratio is presently 66.28%.

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.