Sumitomo Mitsui Trust Group Inc. Reduces Stock Holdings in Xcel Energy Inc. (NASDAQ:XEL)

Sumitomo Mitsui Trust Group Inc. reduced its holdings in Xcel Energy Inc. (NASDAQ:XEL) by 3.4% during the 3rd quarter, Holdings Channel reports. The fund owned 1,446,340 shares of the company’s stock after selling 51,490 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Xcel Energy were worth $94,446,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the company. OVERSEA CHINESE BANKING Corp Ltd purchased a new stake in Xcel Energy during the third quarter worth $239,000. GSA Capital Partners LLP boosted its holdings in Xcel Energy by 155.8% during the third quarter. GSA Capital Partners LLP now owns 21,979 shares of the company’s stock worth $1,435,000 after buying an additional 13,386 shares in the last quarter. Harbour Investments Inc. boosted its holdings in Xcel Energy by 5.4% during the third quarter. Harbour Investments Inc. now owns 19,095 shares of the company’s stock worth $1,247,000 after buying an additional 978 shares in the last quarter. Apollon Wealth Management LLC boosted its holdings in Xcel Energy by 196.1% during the third quarter. Apollon Wealth Management LLC now owns 28,768 shares of the company’s stock worth $1,879,000 after buying an additional 19,054 shares in the last quarter. Finally, Nations Financial Group Inc. IA ADV boosted its holdings in Xcel Energy by 21.7% during the third quarter. Nations Financial Group Inc. IA ADV now owns 6,899 shares of the company’s stock worth $451,000 after buying an additional 1,231 shares in the last quarter. 78.38% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on XEL. Barclays increased their price target on shares of Xcel Energy from $57.00 to $67.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. Jefferies Financial Group raised shares of Xcel Energy from a “hold” rating to a “buy” rating and increased their price objective for the company from $71.00 to $76.00 in a report on Friday, November 1st. Argus raised shares of Xcel Energy from a “hold” rating to a “buy” rating and set a $68.00 price objective on the stock in a report on Monday, August 26th. Morgan Stanley increased their price objective on shares of Xcel Energy from $68.00 to $73.00 and gave the company an “equal weight” rating in a report on Wednesday, September 25th. Finally, UBS Group increased their price objective on shares of Xcel Energy from $66.00 to $67.00 and gave the company a “neutral” rating in a report on Friday, September 20th. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $66.38.

Xcel Energy Price Performance

Shares of NASDAQ XEL opened at $68.65 on Thursday. Xcel Energy Inc. has a 52 week low of $46.79 and a 52 week high of $69.35. The stock has a market capitalization of $39.42 billion, a price-to-earnings ratio of 20.37, a price-to-earnings-growth ratio of 2.80 and a beta of 0.38. The firm has a 50-day simple moving average of $64.41 and a 200-day simple moving average of $58.94. 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 released its quarterly earnings data on Thursday, October 31st. The company reported $1.25 earnings per share (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 firm had revenue of $3.64 billion for the quarter, compared to analyst estimates of $3.93 billion. During the same quarter in the previous year, the business posted $1.23 earnings per share. Xcel Energy’s revenue for the quarter was down .5% on a year-over-year basis. On average, equities analysts predict that Xcel Energy Inc. will post 3.55 earnings per share for the current fiscal year.

Xcel Energy Company 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.