Xcel Energy Inc. (NASDAQ:XEL) Raises Dividend to $0.57 Per Share

Xcel Energy Inc. (NASDAQ:XEL) announced a quarterly dividend on Wednesday, February 26th, RTT News reports. Stockholders of record on Friday, March 14th will be paid a dividend of 0.57 per share on Sunday, April 20th. This represents a $2.28 annualized dividend and a dividend yield of 3.32%. The ex-dividend date of this dividend is Friday, March 14th. This is a 4.1% increase from Xcel Energy’s previous quarterly dividend of $0.55.

Xcel Energy has raised its dividend payment by an average of 6.2% annually over the last three years and has increased its dividend annually for the last 22 consecutive years. Xcel Energy has a payout ratio of 55.1% meaning its dividend is sufficiently covered by earnings. Analysts expect Xcel Energy to earn $4.14 per share next year, which means the company should continue to be able to cover its $2.28 annual dividend with an expected future payout ratio of 55.1%.

Xcel Energy Stock Performance

Shares of XEL stock opened at $68.73 on Wednesday. The stock has a market capitalization of $39.49 billion, a PE ratio of 19.98, a PEG ratio of 2.62 and a beta of 0.37. The business’s 50 day simple moving average is $67.63 and its 200 day simple moving average is $66.63. 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 has a one year low of $50.76 and a one year high of $73.38.

Xcel Energy (NASDAQ:XEL) last released its quarterly earnings data 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 net margin of 14.40% and a return on equity of 10.65%. As a group, research analysts forecast that Xcel Energy will post 3.82 earnings per share for the current year.

Institutional Investors Weigh In On Xcel Energy

A hedge fund recently bought a new stake in Xcel Energy stock. Brighton Jones LLC bought a new position in Xcel Energy Inc. (NASDAQ:XEL) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 3,549 shares of the company’s stock, valued at approximately $240,000. 78.38% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on XEL. KeyCorp lifted their price target on Xcel Energy from $74.00 to $79.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Morgan Stanley cut their target price on Xcel Energy from $74.00 to $72.00 and set an “equal weight” rating on the stock in a research report on Friday, November 22nd. JPMorgan Chase & Co. upgraded Xcel Energy from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $69.00 to $80.00 in a research note on Thursday, December 12th. Wells Fargo & Company increased 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 decreased their price objective on shares of Xcel Energy from $71.00 to $69.00 and set an “overweight” rating for the company in a research note on Wednesday, January 22nd. Three equities 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.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $71.10.

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.