Allstate Corp Makes New Investment in Xcel Energy Inc. (NASDAQ:XEL)

Allstate Corp purchased a new position in Xcel Energy Inc. (NASDAQ:XEL) in the fourth quarter, HoldingsChannel reports. The institutional investor purchased 16,794 shares of the company’s stock, valued at approximately $1,134,000.

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

Xcel Energy Price Performance

Shares of NASDAQ XEL opened at $69.72 on Monday. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.82 and a current ratio of 0.93. The firm has a fifty day moving average of $68.59 and a 200 day moving average of $67.27. The firm has a market cap of $40.06 billion, a PE ratio of 20.27, a PEG ratio of 2.62 and a beta of 0.37. Xcel Energy Inc. has a one year low of $51.97 and a one year high of $73.38.

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

Xcel Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, April 20th. Shareholders of record on Friday, March 14th will be issued a dividend of $0.57 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.27%. This is a boost from Xcel Energy’s previous quarterly dividend of $0.55. Xcel Energy’s dividend payout ratio is presently 66.28%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on XEL shares. KeyCorp lifted their price objective on Xcel Energy from $74.00 to $79.00 and gave the company 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 boosted their price target for the company from $69.00 to $80.00 in a report on Thursday, December 12th. UBS Group raised their price objective on shares of Xcel Energy from $70.00 to $73.00 and gave the stock a “neutral” rating in a research note on Friday, March 21st. Wells Fargo & Company lifted their target price on shares of Xcel Energy from $72.00 to $75.00 and gave the company an “overweight” rating in a report on Friday, February 7th. Finally, Barclays lowered 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 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, Xcel Energy currently has an average rating of “Moderate Buy” and an average target price of $72.30.

Insider Activity

In related news, Director Devin W. Stockfish bought 2,170 shares of the company’s 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 acquisition, the director now directly owns 3,007 shares in the company, valued at $207,272.51. This represents a 259.26 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.09% of the company’s stock.

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.