Prudential Financial Inc. Buys 24,095 Shares of Xcel Energy Inc. $XEL

Prudential Financial Inc. grew its stake in Xcel Energy Inc. (NASDAQ:XEL) by 7.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 336,070 shares of the company’s stock after buying an additional 24,095 shares during the period. Prudential Financial Inc.’s holdings in Xcel Energy were worth $22,886,000 as of its most recent filing with the Securities and Exchange Commission.

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

Xcel Energy Price Performance

Shares of NASDAQ XEL opened at $80.39 on Wednesday. The firm has a market capitalization of $47.55 billion, a P/E ratio of 22.27, a P/E/G ratio of 2.81 and a beta of 0.38. The firm’s 50-day moving average price is $79.71 and its 200-day moving average price is $73.77. The company has a current ratio of 0.96, a quick ratio of 0.85 and a debt-to-equity ratio of 1.48. Xcel Energy Inc. has a 1-year low of $62.58 and a 1-year high of $83.01.

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

Analyst Ratings Changes

A number of brokerages recently weighed in on XEL. TD Cowen initiated coverage on shares of Xcel Energy in a research note on Thursday, October 16th. They set a “buy” rating and a $93.00 target price for the company. Mizuho upped their price target on shares of Xcel Energy from $83.00 to $87.00 and gave the company an “outperform” rating in a research report on Monday, October 27th. BTIG Research raised Xcel Energy to a “strong-buy” rating in a research report on Wednesday, October 22nd. Morgan Stanley reissued an “underperform” rating and issued a $84.00 price objective on shares of Xcel Energy in a research note on Thursday, November 20th. Finally, Jefferies Financial Group upped their target price on Xcel Energy from $84.00 to $92.00 and gave the company a “buy” rating in a research report on Thursday, October 16th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $87.14.

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.