Xcel Energy Inc. $XEL Stock Holdings Reduced by Investment Management Corp of Ontario

Investment Management Corp of Ontario reduced its position in Xcel Energy Inc. (NASDAQ:XEL) by 38.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 50,278 shares of the company’s stock after selling 31,321 shares during the period. Investment Management Corp of Ontario’s holdings in Xcel Energy were worth $3,424,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Brighton Jones LLC acquired a new position in Xcel Energy in the fourth quarter worth approximately $240,000. Benjamin Edwards Inc. grew its position in Xcel Energy by 11.4% in the first quarter. Benjamin Edwards Inc. now owns 18,490 shares of the company’s stock worth $1,309,000 after acquiring an additional 1,885 shares in the last quarter. Entropy Technologies LP bought a new stake in Xcel Energy in the first quarter worth approximately $554,000. Independent Advisor Alliance increased its stake in shares of Xcel Energy by 9.7% during the 1st quarter. Independent Advisor Alliance now owns 10,622 shares of the company’s stock worth $752,000 after purchasing an additional 938 shares during the last quarter. Finally, HighTower Advisors LLC raised its holdings in shares of Xcel Energy by 13.9% during the 1st quarter. HighTower Advisors LLC now owns 103,240 shares of the company’s stock valued at $7,308,000 after purchasing an additional 12,636 shares in the last quarter. 78.38% of the stock is owned by hedge funds and other institutional investors.

Xcel Energy Trading Down 1.5%

Shares of NASDAQ:XEL opened at $74.62 on Thursday. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.69 and a current ratio of 0.79. The stock’s 50-day moving average is $80.23 and its 200-day moving average is $74.38. The company has a market cap of $44.14 billion, a P/E ratio of 22.75, a P/E/G ratio of 2.24 and a beta of 0.45. Xcel Energy Inc. has a 52-week low of $62.58 and a 52-week high of $83.01.

Xcel Energy (NASDAQ:XEL) last posted its quarterly earnings data on Wednesday, October 29th. The company reported $1.24 earnings per share for the quarter, missing the consensus estimate of $1.32 by ($0.08). Xcel Energy had a return on equity of 10.45% and a net margin of 13.46%.The business had revenue of $3.92 billion for the quarter, compared to analyst estimates of $3.89 billion. During the same period in the prior year, the firm posted $1.25 EPS. Xcel Energy’s revenue for the quarter was up 7.4% on a year-over-year basis. Equities research analysts predict that Xcel Energy Inc. will post 3.82 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on XEL. Royal Bank Of Canada initiated coverage on shares of Xcel Energy in a report on Tuesday, October 28th. They issued a “moderate buy” rating for the company. Jefferies Financial Group raised their target price on Xcel Energy from $84.00 to $92.00 and gave the company a “buy” rating in a report on Thursday, October 16th. Evercore ISI assumed coverage on Xcel Energy in a research note on Monday, October 6th. They set an “outperform” rating and a $92.00 price target for the company. BTIG Research raised Xcel Energy to a “strong-buy” rating in a report on Wednesday, October 22nd. Finally, Bank of America raised their price objective on Xcel Energy from $78.00 to $84.00 and gave the company a “buy” rating in a research note on Thursday, September 25th. Three analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Xcel Energy has an average rating of “Buy” and an average price target of $87.14.

Xcel Energy Company 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.