HITE Hedge Asset Management LLC Acquires 252,793 Shares of Xcel Energy Inc. (NASDAQ:XEL)

HITE Hedge Asset Management LLC boosted its stake in Xcel Energy Inc. (NASDAQ:XELFree Report) by 393.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 317,117 shares of the company’s stock after acquiring an additional 252,793 shares during the period. Xcel Energy comprises approximately 2.4% of HITE Hedge Asset Management LLC’s portfolio, making the stock its 13th largest position. HITE Hedge Asset Management LLC owned approximately 0.06% of Xcel Energy worth $20,708,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Ashton Thomas Securities LLC acquired a new position in shares of Xcel Energy in the 3rd quarter worth approximately $25,000. Transcendent Capital Group LLC acquired a new stake in shares of Xcel Energy in the 3rd quarter valued at approximately $33,000. TruNorth Capital Management LLC acquired a new stake in shares of Xcel Energy during the second quarter worth $30,000. American National Bank acquired a new position in shares of Xcel Energy in the second quarter valued at approximately $32,000. Finally, Kimelman & Baird LLC bought a new position in shares of Xcel Energy during the 2nd quarter worth approximately $35,000. 78.38% of the stock is currently owned by institutional investors and hedge funds.

Xcel Energy Price Performance

Xcel Energy stock opened at $71.20 on Tuesday. 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 Inc. has a 52 week low of $46.79 and a 52 week high of $73.38. The firm has a market capitalization of $40.89 billion, a PE ratio of 21.13, a P/E/G ratio of 2.97 and a beta of 0.41. The firm’s 50-day simple moving average is $66.23 and its 200 day simple moving average is $60.41.

Xcel Energy (NASDAQ:XELGet Free Report) last announced 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). The business had revenue of $3.64 billion during the quarter, compared to analysts’ expectations of $3.93 billion. Xcel Energy had a return on equity of 10.76% and a net margin of 13.67%. The firm’s revenue was down .5% on a year-over-year basis. During the same period in the prior year, the company posted $1.23 earnings per share. On average, equities research analysts predict that Xcel Energy Inc. will post 3.54 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on XEL shares. KeyCorp lifted their price objective on Xcel Energy from $69.00 to $74.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Wells Fargo & Company lifted their price target on Xcel Energy from $63.00 to $66.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 16th. UBS Group raised their price target on Xcel Energy from $66.00 to $67.00 and gave the company a “neutral” rating in a research note on Friday, September 20th. Argus upgraded Xcel Energy from a “hold” rating to a “buy” rating and set a $68.00 price target for the company in a report on Monday, August 26th. Finally, Jefferies Financial Group upgraded 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. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $66.62.

View Our Latest Report on XEL

Xcel Energy Profile

(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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Institutional Ownership by Quarter for Xcel Energy (NASDAQ:XEL)

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