NuWave Investment Management LLC boosted its position in shares of Xcel Energy Inc (NYSE:XEL) by 153.0% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 7,890 shares of the utilities provider’s stock after buying an additional 4,771 shares during the quarter. NuWave Investment Management LLC’s holdings in Xcel Energy were worth $509,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Gradient Investments LLC grew its position in Xcel Energy by 71.6% during the third quarter. Gradient Investments LLC now owns 398 shares of the utilities provider’s stock valued at $26,000 after buying an additional 166 shares during the period. Krane Funds Advisors LLC acquired a new stake in Xcel Energy during the second quarter valued at $25,000. Manchester Financial Inc. acquired a new stake in Xcel Energy during the second quarter valued at $26,000. Prestige Wealth Management Group LLC acquired a new stake in Xcel Energy during the second quarter valued at $27,000. Finally, Dougherty Wealth Advisers LLC acquired a new stake in Xcel Energy during the second quarter valued at $30,000. Institutional investors own 73.96% of the company’s stock.
XEL traded down $0.06 during midday trading on Tuesday, hitting $63.22. 100,452 shares of the company traded hands, compared to its average volume of 3,269,577. Xcel Energy Inc has a 52-week low of $47.44 and a 52-week high of $66.05. The business has a 50 day simple moving average of $64.16 and a two-hundred day simple moving average of $60.13.
The firm also recently declared a quarterly dividend, which will be paid on Sunday, October 20th. Stockholders of record on Friday, September 13th will be paid a $0.405 dividend. This represents a $1.62 annualized dividend and a dividend yield of 2.56%. The ex-dividend date is Thursday, September 12th.
Several analysts recently commented on the stock. Barclays lowered shares of Xcel Energy from an “overweight” rating to an “equal weight” rating and set a $64.00 price target on the stock. in a research report on Tuesday, August 13th. They noted that the move was a valuation call. SunTrust Banks set a $63.00 price target on shares of Xcel Energy and gave the company a “hold” rating in a research report on Tuesday, September 3rd. UBS Group increased their price objective on shares of Xcel Energy from $63.00 to $66.00 and gave the company a “neutral” rating in a report on Friday, September 6th. Bank of America downgraded shares of Xcel Energy from a “neutral” rating to an “underperform” rating and set a $62.00 price objective on the stock. in a report on Monday, September 30th. Finally, Morgan Stanley increased their price objective on shares of Xcel Energy from $60.00 to $63.00 and gave the company an “equal weight” rating in a report on Friday, September 6th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $63.10.
In other news, insider Christopher B. Clark sold 2,500 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $62.38, for a total value of $155,950.00. Following the transaction, the insider now directly owns 16,560 shares of the company’s stock, valued at $1,033,012.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Mark E. Stoering sold 4,882 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $64.87, for a total transaction of $316,695.34. Following the completion of the transaction, the insider now directly owns 51,797 shares in the company, valued at $3,360,071.39. The disclosure for this sale can be found here. Over the last three months, insiders sold 49,382 shares of company stock worth $3,133,045. Insiders own 0.22% of the company’s stock.
Xcel Energy Company Profile
Xcel Energy Inc is a public utility holding company. The Company’s operations include the activity of four utility subsidiaries that serve electric and natural gas customers in eight states. The Company’s segments include regulated electric utility, regulated natural gas utility and all other. The Company’s utility subsidiaries include NSP-Minnesota, NSP-Wisconsin, Public Service Company of Colorado (PSCo) and Southwestern Public Service Co (SPS), which serve customers in portions of Colorado, Michigan, Minnesota, New Mexico, North Dakota, South Dakota, Texas and Wisconsin.
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