Xcel Energy Inc. $XEL Stock: Sumitomo Mitsui Trust Group Inc. Reduces Position

Sumitomo Mitsui Trust Group Inc. trimmed its holdings in Xcel Energy Inc. (NASDAQ:XEL) by 1.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,493,248 shares of the company’s stock after selling 22,016 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Xcel Energy were worth $105,244,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in XEL. James T. Borello RIA boosted its stake in shares of Xcel Energy by 59.6% during the 3rd quarter. James T. Borello RIA now owns 367 shares of the company’s stock valued at $26,000 after buying an additional 137 shares during the last quarter. GK Wealth Management LLC acquired a new stake in shares of Xcel Energy during the third quarter worth approximately $28,000. Pin Oak Investment Advisors Inc. bought a new stake in shares of Xcel Energy in the second quarter worth $29,000. First Bancorp Inc ME bought a new stake in shares of Xcel Energy in the second quarter worth $36,000. Finally, Cedar Mountain Advisors LLC acquired a new stake in Xcel Energy in the first quarter valued at $39,000. 78.38% of the stock is owned by institutional investors and hedge funds.

Xcel Energy Trading Down 0.6%

NASDAQ:XEL opened at $79.33 on Tuesday. The company has a market cap of $49.55 billion, a PE ratio of 18.49, a P/E/G ratio of 2.56 and a beta of 0.36. The business’s 50 day moving average is $74.74 and its two-hundred day moving average is $78.21. The company has a quick ratio of 0.62, a current ratio of 0.70 and a debt-to-equity ratio of 1.49. Xcel Energy Inc. has a 52 week low of $68.72 and a 52 week high of $84.23.

Xcel Energy (NASDAQ:XEL) last issued its quarterly earnings results on Wednesday, October 28th. The company reported $1.52 earnings per share for the quarter, beating analysts’ consensus estimates of $1.39 by $0.13. The business had revenue of $4.17 billion during the quarter, compared to the consensus estimate of $4.26 billion. Xcel Energy had a return on equity of 10.65% and a net margin of 15.28%. The business’s quarterly revenue was up 6.6% on a year-over-year basis. During the same period in the previous year, the business earned $1.24 EPS. On average, analysts predict that Xcel Energy Inc. will post 4.13 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Royal Bank Of Canada set a $86.00 price objective on shares of Xcel Energy in a research note on Tuesday, October 20th. Truist Financial decreased their price objective on shares of Xcel Energy from $88.00 to $87.00 and set a “buy” rating for the company in a report on Wednesday, October 14th. JPMorgan Chase & Co. dropped their target price on shares of Xcel Energy from $97.00 to $92.00 and set an “overweight” rating for the company in a research report on Tuesday, October 13th. BMO Capital Markets cut their target price on shares of Xcel Energy from $91.00 to $86.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 20th. Finally, BTIG Research set a $92.00 target price on shares of Xcel Energy in a research note on Friday. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $90.71.

Xcel Energy Profile

Xcel Energy Inc is a public utility holding company that provides electricity and natural gas services to residential, commercial, and industrial customers. Its operations include the generation, transmission, distribution, and sale of electricity, as well as the distribution and sale of natural gas.

The company serves customers across Colorado, Michigan, Minnesota, New Mexico, North Dakota, South Dakota, Texas, and Wisconsin through operating companies including Northern States Power, Public Service Company of Colorado, Southwestern Public Service Company, and NSP-Wisconsin.