984,700 Shares in Xcel Energy Inc. (NASDAQ:XEL) Purchased by Merewether Investment Management LP

Merewether Investment Management LP bought a new stake in shares of Xcel Energy Inc. (NASDAQ:XEL) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 984,700 shares of the company’s stock, valued at approximately $64,301,000. Xcel Energy accounts for approximately 3.0% of Merewether Investment Management LP’s investment portfolio, making the stock its 13th largest holding. Merewether Investment Management LP owned 0.17% of Xcel Energy as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Cetera Investment Advisers grew its stake in shares of Xcel Energy by 165.0% during the first quarter. Cetera Investment Advisers now owns 107,344 shares of the company’s stock worth $5,770,000 after purchasing an additional 66,840 shares during the period. Cetera Advisors LLC grew its position in shares of Xcel Energy by 177.4% during the 1st quarter. Cetera Advisors LLC now owns 30,516 shares of the company’s stock worth $1,640,000 after buying an additional 19,517 shares during the period. Massmutual Trust Co. FSB ADV increased its stake in shares of Xcel Energy by 46.4% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 1,552 shares of the company’s stock valued at $83,000 after acquiring an additional 492 shares during the last quarter. Mather Group LLC. raised its position in shares of Xcel Energy by 17.5% in the 2nd quarter. Mather Group LLC. now owns 2,378 shares of the company’s stock valued at $128,000 after acquiring an additional 355 shares during the period. Finally, Kingswood Wealth Advisors LLC boosted its stake in Xcel Energy by 6.0% during the 2nd quarter. Kingswood Wealth Advisors LLC now owns 5,911 shares of the company’s stock worth $316,000 after acquiring an additional 336 shares during the last quarter. Institutional investors own 78.38% of the company’s stock.

Wall Street Analyst Weigh In

XEL has been the subject of several recent analyst reports. KeyCorp upped their target price on shares of Xcel Energy from $69.00 to $74.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Argus upgraded shares of Xcel Energy from a “hold” rating to a “buy” rating and set a $68.00 price objective for the company in a research report on Monday, August 26th. UBS Group lifted their target price on Xcel Energy from $66.00 to $67.00 and gave the stock a “neutral” rating in a report on Friday, September 20th. Morgan Stanley cut their price objective on Xcel Energy from $74.00 to $72.00 and set an “equal weight” rating on the stock in a report on Friday, November 22nd. Finally, Wells Fargo & Company increased their target price on Xcel Energy from $63.00 to $66.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $66.62.

Xcel Energy Stock Down 0.3 %

XEL stock opened at $71.00 on Wednesday. The business’s 50 day simple moving average is $66.51 and its 200 day simple moving average is $60.62. Xcel Energy Inc. has a 1-year low of $46.79 and a 1-year high of $73.38. The firm has a market capitalization of $40.77 billion, a PE ratio of 21.07, a PEG ratio of 2.91 and a beta of 0.41. The company has a current ratio of 0.93, a quick ratio of 0.82 and a debt-to-equity ratio of 1.42.

Xcel Energy (NASDAQ:XEL) last posted its earnings results on Thursday, October 31st. The company reported $1.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.01). The company had revenue of $3.64 billion for the quarter, compared to analyst estimates of $3.93 billion. Xcel Energy had a return on equity of 10.76% and a net margin of 13.67%. The business’s quarterly revenue was down .5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.23 EPS. As a group, research analysts anticipate that Xcel Energy Inc. will post 3.54 EPS for the current year.

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.