Prudential Financial Inc. Sells 1,380,342 Shares of Xcel Energy Inc. (NASDAQ:XEL)

Prudential Financial Inc. reduced its stake in shares of Xcel Energy Inc. (NASDAQ:XEL) by 81.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 324,139 shares of the company’s stock after selling 1,380,342 shares during the quarter. Prudential Financial Inc. owned about 0.06% of Xcel Energy worth $21,886,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Dakota Wealth Management increased its position in shares of Xcel Energy by 0.7% during the 4th quarter. Dakota Wealth Management now owns 23,130 shares of the company’s stock valued at $1,562,000 after purchasing an additional 151 shares during the last quarter. Rothschild Investment LLC raised its stake in shares of Xcel Energy by 26.0% in the fourth quarter. Rothschild Investment LLC now owns 731 shares of the company’s stock valued at $49,000 after acquiring an additional 151 shares during the period. GenTrust LLC raised its stake in shares of Xcel Energy by 4.5% in the fourth quarter. GenTrust LLC now owns 3,602 shares of the company’s stock valued at $243,000 after acquiring an additional 155 shares during the period. Creative Financial Designs Inc. ADV lifted its holdings in shares of Xcel Energy by 23.2% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 827 shares of the company’s stock worth $56,000 after acquiring an additional 156 shares during the last quarter. Finally, Integris Wealth Management LLC boosted its stake in shares of Xcel Energy by 2.6% during the 4th quarter. Integris Wealth Management LLC now owns 6,323 shares of the company’s stock worth $427,000 after purchasing an additional 160 shares during the period. 78.38% of the stock is currently owned by hedge funds and other institutional investors.

Xcel Energy Trading Up 1.5 %

NASDAQ:XEL opened at $68.92 on Thursday. The firm has a 50-day simple moving average of $68.47 and a 200-day simple moving average of $67.16. Xcel Energy Inc. has a one year low of $51.97 and a one year high of $73.38. The firm has a market cap of $39.60 billion, a P/E ratio of 20.03, a P/E/G ratio of 2.62 and a beta of 0.37. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.82 and a current ratio of 0.93.

Xcel Energy (NASDAQ:XEL) last posted its earnings results on Thursday, February 6th. The company reported $0.81 earnings per share 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 anticipate that Xcel Energy Inc. will post 3.82 EPS for the current fiscal 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 represents a $2.28 annualized dividend and a yield of 3.31%. The ex-dividend date of this dividend is Friday, March 14th. This is a positive change from Xcel Energy’s previous quarterly dividend of $0.55. Xcel Energy’s payout ratio is 66.28%.

Analyst Ratings Changes

Several brokerages have issued reports on XEL. KeyCorp raised 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. JPMorgan Chase & Co. raised Xcel Energy from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $69.00 to $80.00 in a research note on Thursday, December 12th. Morgan Stanley increased their target price on Xcel Energy from $75.00 to $78.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 20th. Wells Fargo & Company lifted their target price 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, Barclays cut their price target on shares of Xcel Energy from $71.00 to $69.00 and set an “overweight” rating on the stock in a report on Wednesday, January 22nd. Three 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 an average rating of “Moderate Buy” and a consensus price target of $72.30.

Insiders Place Their Bets

In other news, Director Devin W. Stockfish bought 2,170 shares of the stock in a transaction on Tuesday, March 11th. The stock was bought at an average cost of $68.93 per share, for a total transaction of $149,578.10. Following the completion of the purchase, the director now directly owns 3,007 shares in the company, 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 Securities & Exchange Commission, which can be accessed through this link. 0.09% of the stock is currently owned by corporate insiders.

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.