Burkehill Global Management LP Takes Position in Xcel Energy Inc. (NASDAQ:XEL)

Burkehill Global Management LP acquired a new position in Xcel Energy Inc. (NASDAQ:XEL) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 1,000,000 shares of the company’s stock, valued at approximately $67,520,000. Xcel Energy makes up 6.5% of Burkehill Global Management LP’s holdings, making the stock its 3rd largest holding.

Several other institutional investors have also modified their holdings of XEL. State Street Corp boosted its holdings in Xcel Energy by 6.7% during the third quarter. State Street Corp now owns 37,143,025 shares of the company’s stock worth $2,445,477,000 after buying an additional 2,323,448 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Xcel Energy by 6.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 15,190,756 shares of the company’s stock valued at $991,956,000 after acquiring an additional 892,740 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Xcel Energy by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 14,562,103 shares of the company’s stock worth $952,091,000 after acquiring an additional 262,191 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Xcel Energy by 0.3% in the 4th quarter. Bank of New York Mellon Corp now owns 3,777,002 shares of the company’s stock worth $255,023,000 after acquiring an additional 11,529 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Xcel Energy by 6.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,625,848 shares of the company’s stock worth $244,817,000 after acquiring an additional 208,233 shares during the last quarter. Institutional investors and hedge funds own 78.38% of the company’s stock.

Insider Activity at Xcel Energy

In related news, Director Devin W. Stockfish purchased 2,170 shares of Xcel Energy stock in a transaction on Tuesday, March 11th. The stock was bought at an average price of $68.93 per share, with a total value of $149,578.10. Following the completion of the transaction, the director now directly owns 3,007 shares of the company’s stock, valued at approximately $207,272.51. This represents 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. Insiders own 0.09% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on XEL shares. JPMorgan Chase & Co. upgraded Xcel Energy from a “neutral” rating to an “overweight” rating and increased their price target for the company from $69.00 to $80.00 in a research report on Thursday, December 12th. Barclays decreased their target price on shares of Xcel Energy from $71.00 to $69.00 and set an “overweight” rating for the company in a report on Wednesday, January 22nd. KeyCorp boosted their price target on shares of Xcel Energy from $74.00 to $79.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Morgan Stanley decreased their price objective on shares of Xcel Energy from $74.00 to $72.00 and set an “equal weight” rating for the company in a research note on Friday, November 22nd. Finally, Wells Fargo & Company lifted their price objective 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. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $71.10.

Xcel Energy Price Performance

XEL opened at $68.85 on Thursday. The stock has a market cap of $39.56 billion, a price-to-earnings ratio of 20.01, a PEG ratio of 2.62 and a beta of 0.37. Xcel Energy Inc. has a 1 year low of $50.76 and a 1 year high of $73.38. The company has a current ratio of 0.93, a quick ratio of 0.82 and a debt-to-equity ratio of 1.42. The stock has a fifty day moving average price of $67.65 and a 200 day moving average price of $66.64.

Xcel Energy (NASDAQ:XEL) last released its quarterly earnings data on Thursday, February 6th. The company reported $0.81 earnings per share (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%. Analysts forecast that Xcel Energy Inc. will post 3.82 EPS for the current fiscal year.

Xcel Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, April 20th. Investors of record on Friday, March 14th will be given a dividend of $0.57 per share. This is a boost from Xcel Energy’s previous quarterly dividend of $0.55. The ex-dividend date is Friday, March 14th. This represents a $2.28 dividend on an annualized basis and a yield of 3.31%. Xcel Energy’s dividend payout ratio (DPR) 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.