Synovus Financial Corp Increases Stake in Xcel Energy Inc. (NASDAQ:XEL)

Synovus Financial Corp boosted its stake in Xcel Energy Inc. (NASDAQ:XEL) by 18.0% in the fourth quarter, Holdings Channel.com reports. The firm owned 6,838 shares of the company’s stock after acquiring an additional 1,043 shares during the quarter. Synovus Financial Corp’s holdings in Xcel Energy were worth $462,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Hodges Capital Management Inc. grew its holdings in shares of Xcel Energy by 447.1% during the 4th quarter. Hodges Capital Management Inc. now owns 51,396 shares of the company’s stock worth $3,470,000 after purchasing an additional 42,001 shares during the period. Atomi Financial Group Inc. acquired a new position in Xcel Energy during the fourth quarter valued at approximately $278,000. GEN Financial Management INC. purchased a new stake in Xcel Energy during the fourth quarter worth approximately $301,000. Oak Thistle LLC acquired a new stake in shares of Xcel Energy in the fourth quarter worth $1,433,000. Finally, Jones Financial Companies Lllp raised its stake in shares of Xcel Energy by 35.8% in the 4th quarter. Jones Financial Companies Lllp now owns 14,825 shares of the company’s stock valued at $1,001,000 after acquiring an additional 3,905 shares during the period. Institutional investors and hedge funds own 78.38% of the company’s stock.

Xcel Energy Stock Up 1.5 %

Shares of NASDAQ:XEL opened at $70.13 on Friday. The firm has a market cap of $40.40 billion, a PE ratio of 20.39, a price-to-earnings-growth ratio of 2.62 and a beta of 0.39. The company has a fifty day simple moving average of $69.32 and a 200 day simple moving average of $67.76. The company has a current ratio of 0.93, a quick ratio of 0.82 and a debt-to-equity ratio of 1.42. Xcel Energy Inc. has a 12-month low of $51.97 and a 12-month high of $73.38.

Xcel Energy (NASDAQ:XEL) last released its earnings results on Thursday, February 6th. The company reported $0.81 earnings per share for the quarter, missing the consensus estimate of $0.87 by ($0.06). Xcel Energy had a return on equity of 10.65% and a net margin of 14.40%. On average, equities research analysts anticipate 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. Stockholders of record on Friday, March 14th will be given a $0.57 dividend. This is a positive change 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 dividend yield of 3.25%. Xcel Energy’s dividend payout ratio (DPR) is presently 66.28%.

Insider Activity

In other Xcel Energy news, Director Devin W. Stockfish purchased 2,170 shares of the firm’s stock in a transaction dated Tuesday, March 11th. The stock was acquired at an average cost of $68.93 per share, with a total value of $149,578.10. Following the acquisition, the director now owns 3,007 shares of the company’s stock, valued at approximately $207,272.51. This represents a 259.26 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.09% of the company’s stock.

Analysts Set New Price Targets

XEL has been the subject of a number of research reports. Wells Fargo & Company upped their price target on shares of Xcel Energy from $72.00 to $75.00 and gave the stock an “overweight” rating in a research report on Friday, February 7th. Morgan Stanley increased their target price on Xcel Energy from $75.00 to $78.00 and gave the company an “equal weight” rating in a research note on Thursday, March 20th. UBS Group boosted their price target on Xcel Energy from $73.00 to $77.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 1st. Finally, Barclays increased their price objective 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. Three investment 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, the stock has an average rating of “Moderate Buy” and an average price target of $73.00.

Xcel Energy Company 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.