Sumitomo Life Insurance Co. raised its stake in shares of Xcel Energy Inc. (NYSE:XEL) by 4.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 29,779 shares of the utilities provider’s stock after buying an additional 1,255 shares during the period. Sumitomo Life Insurance Co.’s holdings in Xcel Energy were worth $1,366,000 as of its most recent filing with the SEC.
Other hedge funds have also made changes to their positions in the company. Reilly Financial Advisors LLC increased its stake in shares of Xcel Energy by 5.8% in the first quarter. Reilly Financial Advisors LLC now owns 2,901 shares of the utilities provider’s stock valued at $129,000 after buying an additional 160 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its stake in shares of Xcel Energy by 13.2% in the first quarter. DekaBank Deutsche Girozentrale now owns 154,058 shares of the utilities provider’s stock worth $6,883,000 after buying an additional 17,905 shares during the period. Blackstart Capital LP bought a new stake in shares of Xcel Energy during the first quarter worth approximately $12,649,000. Greenleaf Trust bought a new stake in shares of Xcel Energy during the first quarter worth approximately $221,000. Finally, BlackRock Inc. boosted its stake in shares of Xcel Energy by 2,692.8% in the first quarter. BlackRock Inc. now owns 41,639,955 shares of the utilities provider’s stock worth $1,850,897,000 after buying an additional 40,148,954 shares during the period. Hedge funds and other institutional investors own 72.60% of the company’s stock.
Shares of Xcel Energy Inc. (XEL) opened at 49.00 on Friday. The firm has a market cap of $24.88 billion, a P/E ratio of 21.63 and a beta of 0.19. Xcel Energy Inc. has a 52-week low of $38.00 and a 52-week high of $49.22. The company has a 50 day moving average price of $47.15 and a 200-day moving average price of $45.41.
Xcel Energy (NYSE:XEL) last released its quarterly earnings results on Thursday, July 27th. The utilities provider reported $0.45 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.43 by $0.02. Xcel Energy had a net margin of 10.08% and a return on equity of 10.42%. The business had revenue of $2.64 billion for the quarter, compared to the consensus estimate of $2.63 billion. During the same period last year, the firm earned $0.39 earnings per share. The company’s quarterly revenue was up 5.8% on a year-over-year basis. On average, analysts expect that Xcel Energy Inc. will post $2.20 earnings per share for the current fiscal year.
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A number of equities research analysts recently commented on XEL shares. BidaskClub cut Xcel Energy from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 24th. Morgan Stanley lifted their target price on Xcel Energy from $45.00 to $46.00 and gave the stock an “equal weight” rating in a report on Thursday, August 10th. Barclays PLC reiterated an “equal weight” rating and set a $47.00 target price (up from $44.00) on shares of Xcel Energy in a report on Sunday, April 23rd. Argus lifted their target price on Xcel Energy from $50.00 to $53.00 and gave the stock a “buy” rating in a report on Wednesday, June 14th. Finally, Zacks Investment Research lowered Xcel Energy from a “buy” rating to a “hold” rating in a report on Thursday, June 15th. Ten analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $46.67.
In related news, EVP Kent T. Larson sold 10,000 shares of the firm’s stock in a transaction on Friday, July 28th. The shares were sold at an average price of $47.25, for a total transaction of $472,500.00. Following the completion of the transaction, the executive vice president now directly owns 80,221 shares of the company’s stock, valued at $3,790,442.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.22% of the company’s stock.
Xcel Energy Company Profile
Xcel Energy Inc is a public utility holding company. The Company’s operations include the activity of four utility subsidiaries that serve electric and natural gas customers in eight states. The Company’s segments include regulated electric utility, regulated natural gas utility and all other. The Company’s utility subsidiaries include NSP-Minnesota, NSP-Wisconsin, Public Service Company of Colorado (PSCo) and Southwestern Public Service Co (SPS), which serve customers in portions of Colorado, Michigan, Minnesota, New Mexico, North Dakota, South Dakota, Texas and Wisconsin.
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