Westpac Banking Corp Boosts Stock Position in Xcel Energy Inc. $XEL

Westpac Banking Corp boosted its position in shares of Xcel Energy Inc. (NASDAQ:XEL) by 28.7% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 79,588 shares of the company’s stock after acquiring an additional 17,750 shares during the quarter. Westpac Banking Corp’s holdings in Xcel Energy were worth $5,420,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Clearstead Trust LLC lifted its position in shares of Xcel Energy by 202.2% during the second quarter. Clearstead Trust LLC now owns 417 shares of the company’s stock worth $28,000 after purchasing an additional 279 shares in the last quarter. Accent Capital Management LLC purchased a new stake in Xcel Energy during the 1st quarter worth approximately $29,000. Rise Advisors LLC lifted its holdings in Xcel Energy by 62.9% during the 2nd quarter. Rise Advisors LLC now owns 518 shares of the company’s stock worth $35,000 after buying an additional 200 shares in the last quarter. Marshall & Sullivan Inc. WA acquired a new stake in Xcel Energy during the 2nd quarter worth approximately $44,000. Finally, RMG Wealth Management LLC purchased a new position in Xcel Energy in the 2nd quarter valued at approximately $46,000. 78.38% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

XEL has been the topic of a number of recent research reports. Citigroup upped their price objective on Xcel Energy from $80.00 to $92.00 and gave the stock a “buy” rating in a research report on Monday, November 3rd. BMO Capital Markets upped their price target on Xcel Energy from $84.00 to $87.00 and gave the stock an “outperform” rating in a report on Wednesday, October 15th. Mizuho lifted their price objective on Xcel Energy from $83.00 to $87.00 and gave the company an “outperform” rating in a research note on Monday, October 27th. TD Cowen initiated coverage on shares of Xcel Energy in a research report on Thursday, October 16th. They issued a “buy” rating and a $93.00 price objective on the stock. Finally, UBS Group set a $85.00 price objective on shares of Xcel Energy in a research report on Wednesday, November 5th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, Xcel Energy presently has a consensus rating of “Buy” and a consensus target price of $87.29.

Xcel Energy Stock Up 0.5%

Shares of NASDAQ:XEL opened at $80.58 on Friday. The firm has a 50 day simple moving average of $78.63 and a 200-day simple moving average of $73.28. Xcel Energy Inc. has a twelve month low of $62.58 and a twelve month high of $83.01. The company has a current ratio of 0.96, a quick ratio of 0.85 and a debt-to-equity ratio of 1.48. The company has a market capitalization of $47.67 billion, a PE ratio of 22.32, a P/E/G ratio of 2.81 and a beta of 0.38.

Xcel Energy (NASDAQ:XEL) last posted its earnings results on Wednesday, October 29th. The company reported $1.24 EPS for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.08). Xcel Energy had a net margin of 14.85% and a return on equity of 10.52%. The company had revenue of $3.92 billion during the quarter, compared to analysts’ expectations of $3.89 billion. During the same period last year, the business earned $1.25 earnings per share. The company’s quarterly revenue was up 7.4% on a year-over-year basis. On average, equities analysts predict that Xcel Energy Inc. will post 3.82 EPS for the current fiscal year.

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.