Magellan Asset Management Ltd Trims Stake in Xcel Energy Inc. $XEL

Magellan Asset Management Ltd decreased its stake in Xcel Energy Inc. (NASDAQ:XEL) by 3.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,003,050 shares of the company’s stock after selling 70,255 shares during the quarter. Xcel Energy makes up 1.6% of Magellan Asset Management Ltd’s portfolio, making the stock its 26th biggest holding. Magellan Asset Management Ltd owned 0.34% of Xcel Energy worth $136,408,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in XEL. Summit Investment Advisors Inc. lifted its position in shares of Xcel Energy by 3.7% in the first quarter. Summit Investment Advisors Inc. now owns 53,343 shares of the company’s stock valued at $3,776,000 after acquiring an additional 1,909 shares in the last quarter. AE Wealth Management LLC grew its holdings in Xcel Energy by 29.4% during the 2nd quarter. AE Wealth Management LLC now owns 24,336 shares of the company’s stock valued at $1,657,000 after buying an additional 5,528 shares in the last quarter. Metis Global Partners LLC raised its position in shares of Xcel Energy by 7.9% during the second quarter. Metis Global Partners LLC now owns 51,568 shares of the company’s stock valued at $3,512,000 after buying an additional 3,758 shares during the last quarter. Cbre Investment Management Listed Real Assets LLC raised its position in shares of Xcel Energy by 4.4% during the second quarter. Cbre Investment Management Listed Real Assets LLC now owns 1,519,160 shares of the company’s stock valued at $103,455,000 after buying an additional 64,122 shares during the last quarter. Finally, Savant Capital LLC boosted its position in shares of Xcel Energy by 6.2% during the second quarter. Savant Capital LLC now owns 32,822 shares of the company’s stock worth $2,235,000 after acquiring an additional 1,914 shares during the last quarter. 78.38% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have commented on XEL shares. Jefferies Financial Group boosted their price target on shares of Xcel Energy from $84.00 to $92.00 and gave the stock a “buy” rating in a research note on Thursday, October 16th. Barclays raised their price target on Xcel Energy from $83.00 to $85.00 and gave the company an “overweight” rating in a report on Wednesday. Bank of America increased their target price on Xcel Energy from $78.00 to $84.00 and gave the company a “buy” rating in a research report on Thursday, September 25th. BTIG Research upgraded shares of Xcel Energy to a “strong-buy” rating in a research report on Wednesday, October 22nd. Finally, Royal Bank Of Canada began coverage on shares of Xcel Energy in a research report on Tuesday, October 28th. They set a “moderate buy” rating for the company. Two research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $87.29.

Xcel Energy Trading Up 0.5%

Xcel Energy stock opened at $80.91 on Friday. The stock has a 50-day moving average of $77.80 and a two-hundred day moving average of $72.91. Xcel Energy Inc. has a one year low of $62.58 and a one year high of $83.01. The company has a debt-to-equity ratio of 1.48, a quick ratio of 0.85 and a current ratio of 0.96. The stock has a market cap of $47.86 billion, a PE ratio of 22.41, a price-to-earnings-growth ratio of 2.81 and a beta of 0.38.

Xcel Energy (NASDAQ:XEL) last posted its quarterly earnings results on Thursday, October 30th. The company reported $1.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.08). Xcel Energy had a return on equity of 10.52% and a net margin of 14.85%.The business had revenue of $3.92 billion for the quarter, compared to analysts’ expectations of $3.89 billion. During the same period in the prior year, the business posted $1.25 earnings per share. The business’s quarterly revenue was up 7.4% compared to the same quarter last year. On average, research analysts anticipate that Xcel Energy Inc. will post 3.82 EPS for the current fiscal year.

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.