Verition Fund Management LLC grew its stake in Xcel Energy Inc. (NASDAQ:XEL - Free Report) by 147.2% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 158,004 shares of the company's stock after buying an additional 94,080 shares during the quarter. Verition Fund Management LLC's holdings in Xcel Energy were worth $10,318,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Ashton Thomas Securities LLC acquired a new stake in Xcel Energy in the third quarter valued at $25,000. TruNorth Capital Management LLC purchased a new stake in Xcel Energy during the second quarter worth approximately $30,000. American National Bank purchased a new stake in Xcel Energy during the second quarter worth approximately $32,000. Transcendent Capital Group LLC acquired a new position in Xcel Energy in the third quarter valued at approximately $33,000. Finally, Kimelman & Baird LLC purchased a new position in Xcel Energy in the second quarter valued at approximately $35,000. Hedge funds and other institutional investors own 78.38% of the company's stock.
Xcel Energy Stock Performance
Shares of Xcel Energy stock traded down $0.36 on Friday, reaching $72.56. 1,383,042 shares of the stock were exchanged, compared to its average volume of 4,013,954. The firm has a market capitalization of $41.67 billion, a PE ratio of 21.53, a PEG ratio of 2.97 and a beta of 0.38. Xcel Energy Inc. has a 1-year low of $46.79 and a 1-year high of $73.38. The business has a fifty day moving average price of $66.23 and a two-hundred day moving average price of $60.41. 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 - 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 return on equity of 10.76% and a net margin of 13.67%. The business had revenue of $3.64 billion for the quarter, compared to analysts' expectations of $3.93 billion. During the same period last year, the company posted $1.23 earnings per share. The business's quarterly revenue was down .5% on a year-over-year basis. As a group, research analysts anticipate that Xcel Energy Inc. will post 3.54 earnings per share for the current fiscal year.
Analysts Set New Price Targets
XEL has been the subject of several recent analyst reports. 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 report on Wednesday, October 16th. Morgan Stanley reduced their price target on shares of Xcel Energy from $74.00 to $72.00 and set an "equal weight" rating for the company in a research report on Friday, November 22nd. KeyCorp raised their price objective on Xcel Energy from $69.00 to $74.00 and gave the stock an "overweight" rating in a report on Friday, November 1st. UBS Group lifted their target price on Xcel Energy from $66.00 to $67.00 and gave the stock a "neutral" rating in a research report on Friday, September 20th. Finally, Jefferies Financial Group raised Xcel Energy from a "hold" rating to a "buy" rating and upped their target price for the company from $71.00 to $76.00 in a research report on Friday, November 1st. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $66.62.
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About Xcel Energy
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Free Report)
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.
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