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 - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 984,700 shares of the company's stock, valued at approximately $64,301,000. Xcel Energy comprises about 3.0% of Merewether Investment Management LP's investment portfolio, making the stock its 13th largest holding. Merewether Investment Management LP owned about 0.17% of Xcel Energy as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Ashton Thomas Securities LLC bought a new position in Xcel Energy during the 3rd quarter valued at approximately $25,000. TruNorth Capital Management LLC purchased a new stake in Xcel Energy in the second quarter worth $30,000. American National Bank purchased a new stake in Xcel Energy in the second quarter worth $32,000. Transcendent Capital Group LLC purchased a new stake in Xcel Energy in the third quarter worth $33,000. Finally, Kimelman & Baird LLC purchased a new stake in Xcel Energy in the second quarter worth $35,000. Institutional investors own 78.38% of the company's stock.

Xcel Energy Stock Performance

Shares of NASDAQ XEL traded down $0.28 during trading on Wednesday, hitting $70.72. The company had a trading volume of 2,407,482 shares, compared to its average volume of 4,125,392. The stock has a 50 day simple moving average of $66.51 and a 200 day simple moving average of $60.62. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.82 and a current ratio of 0.93. Xcel Energy Inc. has a 12 month low of $46.79 and a 12 month high of $73.38. The firm has a market capitalization of $40.61 billion, a P/E ratio of 20.97, a price-to-earnings-growth ratio of 2.91 and a beta of 0.41.

Xcel Energy (NASDAQ:XEL - Get Free Report) last posted 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 period last year, the business earned $1.23 EPS. The firm's quarterly revenue was down .5% compared to the same quarter last year. As a group, analysts anticipate that Xcel Energy Inc. will post 3.54 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on XEL shares. Wells Fargo & Company upped their price target 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. UBS Group increased their target price on Xcel Energy from $66.00 to $67.00 and gave the stock a "neutral" rating in a research note on Friday, September 20th. Barclays increased their target price on Xcel Energy from $67.00 to $71.00 and gave the stock an "overweight" rating in a research note on Tuesday, November 26th. KeyCorp increased their target price on Xcel Energy from $74.00 to $79.00 and gave the stock an "overweight" rating in a research note on Wednesday. Finally, Argus raised Xcel Energy from a "hold" rating to a "buy" rating and set a $68.00 price objective on the stock in a research report on Monday, August 26th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $67.00.

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.