Associated Banc Corp Purchases 288,178 Shares of Xcel Energy Inc. $XEL

Key Points

• Associated Banc Corp opened a new position in Xcel Energy, acquiring 288,178 shares valued at approximately $20.3 million in the third quarter.
• Xcel Energy reported quarterly EPS of $1.52, beating the $1.39 consensus estimate; revenue rose 6.6% year over year to $4.17 billion but fell short of expectations.
• Analysts maintain a consensus Buy rating and a $90.71 target price, though ratings vary, including a recent downgrade to Sell from Wall Street Zen.

Associated Banc Corp acquired a new stake in shares of Xcel Energy Inc. (NASDAQ:XEL - Free Report) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 288,178 shares of the company's stock, valued at approximately $20,311,000.

Several other institutional investors have also added to or reduced their stakes in XEL. Pin Oak Investment Advisors Inc. bought a new stake in shares of Xcel Energy during the 2nd quarter valued at about $29,000. James T. Borello RIA raised its stake in Xcel Energy by 59.6% in the third quarter. James T. Borello RIA now owns 367 shares of the company's stock worth $26,000 after buying an additional 137 shares in the last quarter. GK Wealth Management LLC bought a new position in Xcel Energy in the third quarter worth about $28,000. First Bancorp Inc ME bought a new position in Xcel Energy in the second quarter worth about $36,000. Finally, Cedar Mountain Advisors LLC bought a new position in Xcel Energy in the first quarter worth about $39,000. 78.38% of the stock is currently owned by institutional investors.

Trending Headlines about Xcel Energy

Here are the key news stories impacting Xcel Energy this week:

• Positive Sentiment: Barclays raised its price target to $94 from $85 and reiterated an “overweight” rating, signaling confidence in the shares’ potential. Barclays raises Xcel Energy price target
• Neutral Sentiment: Xcel named Hanna Grene vice president of its newly formed Enterprise Growth and Commercialization group, which will focus on growth and meeting evolving customer energy needs. Xcel Energy names Hanna Grene vice president
• Negative Sentiment: Xcel priced $2.2 billion of 2.625% convertible senior notes due 2027, increasing the offering from the initially proposed $2 billion. The notes provide financing but could be converted into shares, creating potential dilution; concerns about the offering have put pressure on the stock. Xcel Energy prices $2.2 billion convertible notes

Analyst Ratings Changes

XEL has been the topic of several research reports. Mizuho set a $92.00 price objective on Xcel Energy and gave the company an "outperform" rating in a research report on Friday, July 31st. Morgan Stanley upped their target price on Xcel Energy from $83.00 to $85.00 and gave the stock an "equal weight" rating in a report on Wednesday, October 21st. BTIG Research set a $92.00 target price on Xcel Energy in a research note on Friday. Jefferies Financial Group restated a "buy" rating and issued a $99.00 target price (down from $101.00) on shares of Xcel Energy in a research note on Tuesday, October 20th. Finally, Wall Street Zen lowered Xcel Energy from a "hold" rating to a "sell" rating in a research report on Saturday. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $90.71.

Xcel Energy Trading Down 0.7%

NASDAQ:XEL opened at $78.76 on Wednesday. Xcel Energy Inc. has a one year low of $68.72 and a one year high of $84.23. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.69 and a quick ratio of 0.61. The company's 50-day simple moving average is $74.77 and its 200 day simple moving average is $78.22. The firm has a market capitalization of $50.55 billion, a P/E ratio of 18.36, a PEG ratio of 2.57 and a beta of 0.34.

Xcel Energy (NASDAQ:XEL - Get Free Report) last announced its earnings results on Wednesday, October 28th. The company reported $1.52 earnings per share for the quarter, beating analysts' consensus estimates of $1.39 by $0.13. Xcel Energy had a net margin of 17.94% and a return on equity of 11.10%. The business had revenue of $4.17 billion during the quarter, compared to the consensus estimate of $4.26 billion. During the same quarter last year, the firm earned $1.24 earnings per share. The business's revenue for the quarter was up 6.6% on a year-over-year basis. As a group, analysts forecast that Xcel Energy Inc. will post 4.14 EPS for the current fiscal year.

About Xcel Energy

Xcel Energy Inc is a public utility holding company that provides electricity and natural gas services to residential, commercial, and industrial customers. Its operations include the generation, transmission, distribution, and sale of electricity, as well as the distribution and sale of natural gas.

The company serves customers across Colorado, Michigan, Minnesota, New Mexico, North Dakota, South Dakota, Texas, and Wisconsin through operating companies including Northern States Power, Public Service Company of Colorado, Southwestern Public Service Company, and NSP-Wisconsin.

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