Sumitomo Mitsui Trust Group Inc. Sells 22,016 Shares of Xcel Energy Inc. $XEL

Key Points

• Sumitomo Mitsui Trust Group reduced its Xcel Energy stake by 1.5%, selling 22,016 shares and retaining 1.49 million shares worth approximately $105.2 million. Institutional investors and hedge funds own 78.38% of Xcel’s stock.
• Xcel Energy reported quarterly EPS of $1.52, beating estimates of $1.39, while revenue rose 6.6% year over year to $4.17 billion, slightly below expectations.
• Analyst sentiment remains favorable, with Xcel carrying an average “Buy” rating and a consensus price target of $90.71, compared with a share price of $79.33.

Sumitomo Mitsui Trust Group Inc. reduced its stake in shares of Xcel Energy Inc. (NASDAQ:XEL - Free Report) by 1.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,493,248 shares of the company's stock after selling 22,016 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.24% of Xcel Energy worth $105,244,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of XEL. Bank of New York Mellon Corp acquired a new stake in shares of Xcel Energy during the 2nd quarter worth $280,187,000. Engineers Gate Manager LP purchased a new position in shares of Xcel Energy in the 2nd quarter worth $7,894,000. Jupiter Topco LLC purchased a new position in shares of Xcel Energy in the 2nd quarter worth $94,211,000. Allianz Asset Management GmbH boosted its holdings in Xcel Energy by 10,366.0% in the second quarter. Allianz Asset Management GmbH now owns 316,702 shares of the company's stock valued at $25,431,000 after acquiring an additional 313,676 shares during the last quarter. Finally, Bank of America Corp DE boosted its holdings in Xcel Energy by 1.7% in the second quarter. Bank of America Corp DE now owns 29,933,748 shares of the company's stock valued at $2,403,680,000 after acquiring an additional 491,937 shares during the last quarter. 78.38% of the stock is owned by institutional investors and hedge funds.

Xcel Energy Price Performance

XEL stock opened at $79.33 on Tuesday. The firm has a market cap of $49.55 billion, a P/E ratio of 18.49, a price-to-earnings-growth ratio of 2.56 and a beta of 0.36. Xcel Energy Inc. has a 1 year low of $68.72 and a 1 year high of $84.23. The stock has a 50-day simple moving average of $74.74 and a 200-day simple moving average of $78.21. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.62 and a current ratio of 0.70.

Xcel Energy (NASDAQ:XEL - Get Free Report) last issued its quarterly earnings data on Wednesday, October 28th. The company reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.13. The company had revenue of $4.17 billion during the quarter, compared to the consensus estimate of $4.26 billion. Xcel Energy had a net margin of 15.28% and a return on equity of 10.65%. Xcel Energy's revenue for the quarter was up 6.6% on a year-over-year basis. During the same quarter last year, the company earned $1.24 earnings per share. On average, equities analysts predict that Xcel Energy Inc. will post 4.13 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have commented on the company. HSBC started coverage on Xcel Energy in a research note on Thursday, October 22nd. They set a "buy" rating and a $89.00 price target for the company. Weiss Ratings lowered Xcel Energy from a "buy (b)" rating to a "buy (b-)" rating in a research note on Monday, October 19th. Wall Street Zen cut Xcel Energy from a "hold" rating to a "sell" rating in a report on Saturday. Truist Financial decreased their target price on Xcel Energy from $88.00 to $87.00 and set a "buy" rating for the company in a report on Wednesday, October 14th. Finally, Mizuho set a $92.00 target price on shares of Xcel Energy and gave the stock an "outperform" rating in a research report on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, Xcel Energy presently has an average rating of "Buy" and an average price target of $90.71.

Xcel Energy Profile

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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