Resona Asset Management Co. Ltd. Takes Position in Xcel Energy Inc. (NASDAQ:XEL)

Resona Asset Management Co. Ltd. acquired a new stake in shares of Xcel Energy Inc. (NASDAQ:XEL) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 179,784 shares of the company’s stock, valued at approximately $12,153,000.

Several other institutional investors also recently bought and sold shares of the business. Sierra Ocean LLC purchased a new stake in Xcel Energy during the fourth quarter worth $26,000. Fairway Wealth LLC bought a new position in shares of Xcel Energy in the 4th quarter worth $27,000. Crews Bank & Trust purchased a new stake in shares of Xcel Energy during the 4th quarter worth $34,000. MCF Advisors LLC boosted its position in Xcel Energy by 566.3% during the fourth quarter. MCF Advisors LLC now owns 593 shares of the company’s stock valued at $40,000 after purchasing an additional 504 shares in the last quarter. Finally, First Financial Corp IN bought a new stake in Xcel Energy during the fourth quarter valued at about $46,000. 78.38% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

XEL has been the subject of several analyst reports. Barclays increased their price target on shares of Xcel Energy from $69.00 to $72.00 and gave the company an “overweight” rating in a research report on Monday, March 31st. Morgan Stanley increased 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 report on Thursday, March 20th. UBS Group lifted their price target on shares of Xcel Energy from $73.00 to $77.00 and gave the stock a “neutral” rating in a report on Tuesday, April 1st. JPMorgan Chase & Co. upgraded Xcel Energy from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $69.00 to $80.00 in a report on Thursday, December 12th. Finally, Wells Fargo & Company upped their target price on Xcel Energy from $72.00 to $75.00 and gave the company an “overweight” rating in a research report on Friday, February 7th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, Xcel Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $73.00.

Insider Transactions at Xcel Energy

In other Xcel Energy news, Director Devin W. Stockfish bought 2,170 shares of the business’s stock in a transaction dated Tuesday, March 11th. The shares were acquired at an average price of $68.93 per share, with a total value of $149,578.10. Following the transaction, the director now owns 3,007 shares of the company’s stock, valued at approximately $207,272.51. The trade was a 259.26 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.09% of the company’s stock.

Xcel Energy Price Performance

Shares of XEL opened at $67.89 on Monday. The firm has a 50-day simple moving average of $68.96 and a two-hundred day simple moving average of $67.49. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.93 and a quick ratio of 0.82. Xcel Energy Inc. has a 1-year low of $51.97 and a 1-year high of $73.38. The stock has a market cap of $39.01 billion, a PE ratio of 19.74, a P/E/G ratio of 2.62 and a beta of 0.39.

Xcel Energy (NASDAQ:XEL) last announced 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 net margin of 14.40% and a return on equity of 10.65%. As a group, analysts forecast that Xcel Energy Inc. will post 3.82 EPS for the current year.

Xcel Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, April 20th. Stockholders of record on Friday, March 14th will be paid a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 3.36%. The ex-dividend date is Friday, March 14th. This is a boost from Xcel Energy’s previous quarterly dividend of $0.55. Xcel Energy’s dividend payout ratio (DPR) is presently 66.28%.

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.