Xcel Energy Inc. $XEL Stock: Waycross Partners LLC Increases Holdings

Key Points

• Waycross Partners increased its Xcel Energy stake by 300.7% in the third quarter, adding 16,691 shares to reach 22,241 shares valued at about $1.57 million.
• Institutional investors and hedge funds own 78.38% of Xcel Energy shares. Analysts have a consensus Buy rating and an average price target of $90.71.
• Xcel reported quarterly EPS of $1.52, beating the $1.39 consensus, while revenue rose 6.6% year over year to $4.17 billion, below estimates.

Waycross Partners LLC grew its position in Xcel Energy Inc. (NASDAQ:XEL - Free Report) by 300.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 22,241 shares of the company's stock after purchasing an additional 16,691 shares during the quarter. Waycross Partners LLC's holdings in Xcel Energy were worth $1,568,000 as of its most recent SEC filing.

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

Analyst Ratings Changes

Several research analysts have commented on the company. Truist Financial dropped their price target on Xcel Energy from $88.00 to $87.00 and set a "buy" rating on the stock in a research report on Wednesday, October 14th. Barclays upped their price target on Xcel Energy from $85.00 to $94.00 and gave the stock an "overweight" rating in a report on Monday, November 2nd. KeyCorp reduced their price objective on Xcel Energy from $90.00 to $87.00 and set an "overweight" rating for the company in a research report on Tuesday, October 13th. BTIG Research set a $92.00 price objective on shares of Xcel Energy in a research note on Friday, October 30th. Finally, Wall Street Zen lowered shares of Xcel Energy from a "hold" rating to a "sell" rating in a research report on Saturday, October 31st. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Xcel Energy presently has a consensus rating of "Buy" and an average target price of $90.71.

Xcel Energy Stock Performance

Shares of XEL traded down $0.70 during trading hours on Friday, reaching $79.67. 6,826,841 shares of the company traded hands, compared to its average volume of 6,081,875. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.61 and a current ratio of 0.69. The stock's fifty day moving average is $74.94 and its 200 day moving average is $78.29. Xcel Energy Inc. has a 1-year low of $68.72 and a 1-year high of $84.23. The stock has a market cap of $51.14 billion, a P/E ratio of 18.57, a price-to-earnings-growth ratio of 2.57 and a beta of 0.34.

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

Xcel Energy Company Profile

Xcel Energy Inc is a regulated electric and natural gas utility headquartered in Minneapolis, Minnesota. Through its operating companies, it generates, purchases, transmits and distributes electricity, and delivers natural gas to residential, commercial and industrial customers.

The company serves customers in eight states: Colorado, Michigan, Minnesota, New Mexico, North Dakota, South Dakota, Texas and Wisconsin. Its electric system includes a mix of generation resources, supported by transmission and distribution networks.

Xcel Energy traces its roots to Northern States Power Company, founded in 1909.

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