Independent Advisor Alliance Raises Stake in Xcel Energy Inc. (NASDAQ:XEL)

Independent Advisor Alliance boosted its holdings in shares of Xcel Energy Inc. (NASDAQ:XEL) by 44.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,988 shares of the company’s stock after acquiring an additional 3,052 shares during the period. Independent Advisor Alliance’s holdings in Xcel Energy were worth $652,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. Ashton Thomas Securities LLC purchased a new position in Xcel Energy in the third quarter worth about $25,000. TruNorth Capital Management LLC purchased a new position in Xcel Energy in the second quarter worth about $30,000. American National Bank purchased a new position in Xcel Energy in the second quarter worth about $32,000. Transcendent Capital Group LLC purchased a new position in Xcel Energy in the third quarter worth about $33,000. Finally, Kimelman & Baird LLC purchased a new position in Xcel Energy in the second quarter worth about $35,000. 78.38% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Barclays lifted their target price on shares of Xcel Energy from $67.00 to $71.00 and gave the stock an “overweight” rating in a report on Tuesday. Jefferies Financial Group raised shares of Xcel Energy from a “hold” rating to a “buy” rating and lifted their target price for the stock from $71.00 to $76.00 in a report on Friday, November 1st. KeyCorp boosted their price objective on shares of Xcel Energy from $69.00 to $74.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Argus raised shares of Xcel Energy from a “hold” rating to a “buy” rating and set a $68.00 price objective for the company in a report on Monday, August 26th. Finally, Wells Fargo & Company boosted their price objective on shares of Xcel Energy from $63.00 to $66.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $66.62.

Xcel Energy Stock Performance

Shares of NASDAQ XEL opened at $72.92 on Thursday. The firm has a market capitalization of $41.87 billion, a price-to-earnings ratio of 21.64, a price-to-earnings-growth ratio of 2.93 and a beta of 0.38. Xcel Energy Inc. has a 12-month low of $46.79 and a 12-month high of $73.38. The firm has a 50 day moving average of $65.88 and a 200 day moving average of $60.14. 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 quarterly earnings results on Thursday, October 31st. The company reported $1.25 earnings per share for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.01). The firm had revenue of $3.64 billion during the quarter, compared to the consensus estimate of $3.93 billion. Xcel Energy had a return on equity of 10.76% and a net margin of 13.67%. The business’s revenue for the quarter was down .5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.23 earnings per share. On average, research analysts anticipate that Xcel Energy Inc. will post 3.54 earnings per share for the current year.

Xcel Energy 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.