Point72 Asset Management L.P. Takes Position in Xcel Energy Inc. (NASDAQ:XEL)

Point72 Asset Management L.P. purchased a new stake in shares of Xcel Energy Inc. (NASDAQ:XEL) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 637,376 shares of the company’s stock, valued at approximately $41,621,000.

Several other institutional investors have also added to or reduced their stakes in XEL. Integris Wealth Management LLC grew its stake in shares of Xcel Energy by 2.7% in the third quarter. Integris Wealth Management LLC now owns 6,163 shares of the company’s stock worth $402,000 after acquiring an additional 163 shares during the period. Bond & Devick Financial Network Inc. increased its stake in Xcel Energy by 1.1% in the 3rd quarter. Bond & Devick Financial Network Inc. now owns 15,972 shares of the company’s stock worth $1,043,000 after acquiring an additional 168 shares during the last quarter. Gateway Wealth Partners LLC lifted its holdings in shares of Xcel Energy by 4.3% in the 2nd quarter. Gateway Wealth Partners LLC now owns 4,413 shares of the company’s stock valued at $236,000 after acquiring an additional 182 shares during the last quarter. Sumitomo Life Insurance Co. boosted its stake in Xcel Energy by 2.9% during the third quarter. Sumitomo Life Insurance Co. now owns 6,591 shares of the company’s stock worth $430,000 after buying an additional 183 shares during the period. Finally, Dakota Wealth Management grew its stake in shares of Xcel Energy by 0.9% during the third quarter. Dakota Wealth Management now owns 22,979 shares of the company’s stock valued at $1,500,000 after buying an additional 205 shares during the last quarter. Hedge funds and other institutional investors own 78.38% of the company’s stock.

Xcel Energy Stock Performance

XEL stock opened at $70.72 on Thursday. Xcel Energy Inc. has a 12 month low of $46.79 and a 12 month high of $73.38. The firm has a 50 day moving average of $66.64 and a two-hundred day moving average of $60.69. The company has a quick ratio of 0.82, a current ratio of 0.93 and a debt-to-equity ratio of 1.42. The company has a market capitalization of $40.61 billion, a price-to-earnings ratio of 20.99, a P/E/G ratio of 2.90 and a beta of 0.41.

Xcel Energy (NASDAQ:XEL) last posted its quarterly earnings results 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 company had revenue of $3.64 billion during the quarter, compared to analyst estimates of $3.93 billion. Xcel Energy had a return on equity of 10.76% and a net margin of 13.67%. The business’s revenue for the quarter was down .5% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.23 earnings per share. As a group, equities analysts anticipate that Xcel Energy Inc. will post 3.54 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have commented on XEL shares. Jefferies Financial Group upgraded Xcel Energy from a “hold” rating to a “buy” rating and raised their price objective for the stock from $71.00 to $76.00 in a report on Friday, November 1st. Argus upgraded 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. UBS Group boosted their price objective on Xcel Energy from $66.00 to $67.00 and gave the stock a “neutral” rating in a research note on Friday, September 20th. Barclays boosted their target price on Xcel Energy from $67.00 to $71.00 and gave the stock an “overweight” rating in a report on Tuesday, November 26th. Finally, KeyCorp upped their price objective on Xcel Energy from $74.00 to $79.00 and gave the company an “overweight” rating in a report on Wednesday. Seven investment 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 an average price target of $67.00.

Xcel Energy Company Profile

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.