Teacher Retirement System of Texas decreased its stake in shares of Xcel Energy Inc (NYSE:XEL) by 33.4% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 498,140 shares of the utilities provider’s stock after selling 249,576 shares during the period. Teacher Retirement System of Texas owned 0.10% of Xcel Energy worth $29,634,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently modified their holdings of XEL. JPMorgan Chase & Co. increased its holdings in shares of Xcel Energy by 6.1% during the 1st quarter. JPMorgan Chase & Co. now owns 39,118,840 shares of the utilities provider’s stock valued at $2,198,871,000 after acquiring an additional 2,250,610 shares during the last quarter. Scout Investments Inc. boosted its stake in Xcel Energy by 196.1% during the 2nd quarter. Scout Investments Inc. now owns 1,967,843 shares of the utilities provider’s stock valued at $117,067,000 after purchasing an additional 1,303,156 shares during the period. Pictet Asset Management Ltd. boosted its stake in Xcel Energy by 30.5% during the 1st quarter. Pictet Asset Management Ltd. now owns 4,545,636 shares of the utilities provider’s stock valued at $255,510,000 after purchasing an additional 1,062,141 shares during the period. Banco Santander S.A. bought a new stake in Xcel Energy during the 1st quarter valued at approximately $55,146,000. Finally, SG Americas Securities LLC bought a new stake in Xcel Energy during the 1st quarter valued at approximately $50,985,000. 73.96% of the stock is currently owned by institutional investors and hedge funds.
In other Xcel Energy news, EVP Scott M. Wilensky sold 15,000 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $61.71, for a total value of $925,650.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Robert Frenzel sold 4,400 shares of the stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $58.60, for a total value of $257,840.00. The disclosure for this sale can be found here. Insiders sold a total of 79,400 shares of company stock valued at $4,746,290 in the last quarter. Corporate insiders own 0.22% of the company’s stock.
Xcel Energy (NYSE:XEL) last announced its quarterly earnings data on Thursday, August 1st. The utilities provider reported $0.46 EPS for the quarter, missing the Zacks’ consensus estimate of $0.53 by ($0.07). The business had revenue of $2.58 billion during the quarter, compared to the consensus estimate of $2.84 billion. During the same period in the prior year, the company earned $0.52 EPS. The company’s revenue for the quarter was down 3.0% on a year-over-year basis.
Several analysts recently weighed in on the company. Wolfe Research set a $57.00 target price on Xcel Energy and gave the company a “hold” rating in a research note on Friday, April 26th. Barclays downgraded Xcel Energy from an “overweight” rating to an “equal weight” rating and set a $64.00 target price for the company. in a research note on Tuesday, August 13th. They noted that the move was a valuation call. Zacks Investment Research downgraded Xcel Energy from a “hold” rating to a “sell” rating and set a $64.00 target price for the company. in a research note on Saturday, July 27th. Morgan Stanley decreased their target price on Xcel Energy from $61.00 to $60.00 and set an “equal weight” rating for the company in a research note on Friday, August 16th. Finally, KeyCorp assumed coverage on Xcel Energy in a research note on Tuesday, June 4th. They set an “overweight” rating and a $62.00 target price for the company. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. Xcel Energy currently has an average rating of “Hold” and a consensus price target of $59.71.
About Xcel Energy
Xcel Energy Inc is a public utility holding company. The Company’s operations include the activity of four utility subsidiaries that serve electric and natural gas customers in eight states. The Company’s segments include regulated electric utility, regulated natural gas utility and all other. The Company’s utility subsidiaries include NSP-Minnesota, NSP-Wisconsin, Public Service Company of Colorado (PSCo) and Southwestern Public Service Co (SPS), which serve customers in portions of Colorado, Michigan, Minnesota, New Mexico, North Dakota, South Dakota, Texas and Wisconsin.
Further Reading: Fundamental Analysis and Individual Investors
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