HITE Hedge Asset Management LLC Increases Stock Holdings in Xcel Energy Inc. (NASDAQ:XEL)

HITE Hedge Asset Management LLC boosted its position in Xcel Energy Inc. (NASDAQ:XEL) by 393.0% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 317,117 shares of the company’s stock after buying an additional 252,793 shares during the period. Xcel Energy accounts for approximately 2.4% of HITE Hedge Asset Management LLC’s holdings, making the stock its 13th biggest holding. HITE Hedge Asset Management LLC’s holdings in Xcel Energy were worth $20,708,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Federated Hermes Inc. boosted its position in shares of Xcel Energy by 120.2% during the 2nd quarter. Federated Hermes Inc. now owns 2,379,615 shares of the company’s stock worth $127,095,000 after acquiring an additional 1,299,025 shares in the last quarter. American Century Companies Inc. increased its stake in shares of Xcel Energy by 130.4% in the 2nd quarter. American Century Companies Inc. now owns 2,084,345 shares of the company’s stock worth $111,325,000 after acquiring an additional 1,179,823 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of Xcel Energy by 6.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 15,190,756 shares of the company’s stock valued at $991,956,000 after acquiring an additional 892,740 shares during the last quarter. Los Angeles Capital Management LLC lifted its holdings in Xcel Energy by 725.1% during the second quarter. Los Angeles Capital Management LLC now owns 907,030 shares of the company’s stock valued at $48,444,000 after purchasing an additional 797,096 shares in the last quarter. Finally, National Bank of Canada FI increased its position in Xcel Energy by 89.4% in the second quarter. National Bank of Canada FI now owns 1,534,971 shares of the company’s stock worth $80,478,000 after purchasing an additional 724,558 shares during the last quarter. 78.38% of the stock is currently owned by institutional investors and hedge funds.

Xcel Energy Stock Down 1.9 %

Shares of NASDAQ XEL opened at $71.20 on Tuesday. The stock has a market cap of $40.89 billion, a PE ratio of 21.13, a price-to-earnings-growth ratio of 2.97 and a beta of 0.41. The business has a 50-day moving average price of $66.23 and a 200 day moving average price of $60.41. Xcel Energy Inc. has a 52-week low of $46.79 and a 52-week high of $73.38. The company has a quick ratio of 0.82, a current ratio of 0.93 and a debt-to-equity ratio of 1.42.

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

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on XEL. Jefferies Financial Group upgraded Xcel Energy from a “hold” rating to a “buy” rating and increased their target price for the company from $71.00 to $76.00 in a research report on Friday, November 1st. Barclays lifted their price objective on shares of Xcel Energy from $67.00 to $71.00 and gave the company an “overweight” rating in a research note on Tuesday, November 26th. Wells Fargo & Company boosted their price objective on shares of Xcel Energy from $63.00 to $66.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. Morgan Stanley cut their target price on shares of Xcel Energy from $74.00 to $72.00 and set an “equal weight” rating on the stock in a research report on Friday, November 22nd. Finally, Argus raised shares of Xcel Energy from a “hold” rating to a “buy” rating and set a $68.00 target price on the stock in a research report on Monday, August 26th. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $66.62.

About Xcel Energy

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.