Financial Advocates Investment Management Increases Stock Position in Xcel Energy Inc. (NASDAQ:XEL)

Financial Advocates Investment Management grew its holdings in shares of Xcel Energy Inc. (NASDAQ:XEL) by 7.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,251 shares of the company’s stock after purchasing an additional 710 shares during the period. Financial Advocates Investment Management’s holdings in Xcel Energy were worth $669,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. TruNorth Capital Management LLC purchased a new position in Xcel Energy in the second quarter worth $30,000. American National Bank purchased a new position in shares of Xcel Energy in the 2nd quarter valued at about $32,000. Kimelman & Baird LLC acquired a new stake in shares of Xcel Energy in the second quarter valued at about $35,000. Rothschild Investment LLC purchased a new stake in Xcel Energy during the second quarter worth about $37,000. Finally, Voisard Asset Management Group Inc. acquired a new position in Xcel Energy during the second quarter worth about $43,000. 78.38% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on XEL. Jefferies Financial Group upgraded shares of Xcel Energy from a “hold” rating to a “buy” rating and lifted their price target for the company from $71.00 to $76.00 in a research report on Friday. Argus raised Xcel Energy from a “hold” rating to a “buy” rating and set a $68.00 price objective for the company in a research note on Monday, August 26th. Morgan Stanley boosted their target price on Xcel Energy from $68.00 to $73.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 25th. Barclays raised their price target on Xcel Energy from $57.00 to $67.00 and gave the company an “overweight” rating in a research report on Monday, October 21st. Finally, UBS Group lifted their price target on Xcel Energy from $66.00 to $67.00 and gave the stock a “neutral” rating in a research note 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’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $66.38.

Xcel Energy Trading Down 0.2 %

Shares of Xcel Energy stock opened at $66.69 on Friday. The firm has a market cap of $37.18 billion, a PE ratio of 19.91, a P/E/G ratio of 2.77 and a beta of 0.39. The company has a quick ratio of 0.86, a current ratio of 0.97 and a debt-to-equity ratio of 1.54. Xcel Energy Inc. has a fifty-two week low of $46.79 and a fifty-two week high of $68.36. The business’s fifty day moving average is $63.61 and its two-hundred day moving average is $58.25.

Xcel Energy (NASDAQ:XEL) last issued its quarterly earnings results on Thursday, October 31st. The company reported $1.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.31 by ($0.06). Xcel Energy had a return on equity of 10.94% and a net margin of 13.46%. The business had revenue of $3.64 billion during the quarter, compared to analyst estimates of $3.93 billion. During the same period in the previous year, the business posted $1.23 earnings per share. The firm’s quarterly revenue was down .5% on a year-over-year basis. Analysts anticipate that Xcel Energy Inc. will post 3.55 earnings per share for the current year.

About Xcel Energy

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.