Franklin Resources Inc. Has $307.84 Million Position in Xcel Energy Inc. (NASDAQ:XEL)

Franklin Resources Inc. cut its stake in Xcel Energy Inc. (NASDAQ:XEL - Free Report) by 1.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,884,735 shares of the company's stock after selling 80,596 shares during the quarter. Franklin Resources Inc. owned 0.85% of Xcel Energy worth $307,836,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Integris Wealth Management LLC grew its stake in Xcel Energy by 2.7% in the third quarter. Integris Wealth Management LLC now owns 6,163 shares of the company's stock valued at $402,000 after acquiring an additional 163 shares during the period. Bond & Devick Financial Network Inc. grew its position in shares of Xcel Energy by 1.1% in the 3rd quarter. Bond & Devick Financial Network Inc. now owns 15,972 shares of the company's stock valued at $1,043,000 after purchasing an additional 168 shares during the period. LRI Investments LLC increased its stake in Xcel Energy by 5.9% during the 3rd quarter. LRI Investments LLC now owns 3,037 shares of the company's stock worth $209,000 after purchasing an additional 170 shares in the last quarter. Gateway Wealth Partners LLC increased its stake in Xcel Energy by 4.3% during the 2nd quarter. Gateway Wealth Partners LLC now owns 4,413 shares of the company's stock worth $236,000 after purchasing an additional 182 shares in the last quarter. Finally, Sumitomo Life Insurance Co. raised its holdings in Xcel Energy by 2.9% during the 3rd quarter. Sumitomo Life Insurance Co. now owns 6,591 shares of the company's stock worth $430,000 after buying an additional 183 shares during the period. 78.38% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

XEL has been the subject of several research analyst reports. JPMorgan Chase & Co. upgraded shares of Xcel Energy from a "neutral" rating to an "overweight" rating and upped their price target for the company from $69.00 to $80.00 in a report on Thursday. KeyCorp upped their target price on shares of Xcel Energy from $74.00 to $79.00 and gave the stock an "overweight" rating in a research note on Wednesday, December 4th. Argus raised Xcel Energy from a "hold" rating to a "buy" rating and set a $68.00 price target on the stock in a research note on Monday, August 26th. Wells Fargo & Company upped their price objective on Xcel Energy from $63.00 to $66.00 and gave the stock an "equal weight" rating in a research report on Wednesday, October 16th. Finally, Barclays lifted their target price on Xcel Energy from $67.00 to $71.00 and gave the company an "overweight" rating in a research report on Tuesday, November 26th. Six research analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat, Xcel Energy has an average rating of "Moderate Buy" and a consensus target price of $68.62.

Xcel Energy Stock Performance

NASDAQ XEL traded down $0.37 on Friday, hitting $68.12. 2,253,986 shares of the stock were exchanged, compared to its average volume of 4,093,029. The company has a market capitalization of $39.12 billion, a PE ratio of 20.21, a P/E/G ratio of 2.80 and a beta of 0.41. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.93 and a quick ratio of 0.82. The business's fifty day moving average is $67.27 and its 200 day moving average is $61.40. Xcel Energy Inc. has a 52 week low of $46.79 and a 52 week high of $73.38.

Xcel Energy (NASDAQ:XEL - Get Free Report) last issued 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). Xcel Energy had a net margin of 13.67% and a return on equity of 10.76%. The firm had revenue of $3.64 billion during the quarter, compared to the consensus estimate of $3.93 billion. During the same period in the previous 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. Research analysts anticipate that Xcel Energy Inc. will post 3.54 EPS for the current fiscal 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.