Resona Asset Management Co. Ltd. Boosts Stock Holdings in Xcel Energy Inc. $XEL

Resona Asset Management Co. Ltd. lifted its position in Xcel Energy Inc. (NASDAQ:XEL) by 6.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 209,180 shares of the company’s stock after purchasing an additional 12,133 shares during the period. Resona Asset Management Co. Ltd.’s holdings in Xcel Energy were worth $14,236,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Brighton Jones LLC purchased a new position in Xcel Energy in the fourth quarter valued at $240,000. Envestnet Asset Management Inc. grew its position in shares of Xcel Energy by 2.5% during the 1st quarter. Envestnet Asset Management Inc. now owns 1,354,268 shares of the company’s stock valued at $95,869,000 after acquiring an additional 32,635 shares during the period. Greenleaf Trust grew its position in shares of Xcel Energy by 4.2% during the 1st quarter. Greenleaf Trust now owns 15,133 shares of the company’s stock valued at $1,071,000 after acquiring an additional 606 shares during the period. New Mexico Educational Retirement Board increased its stake in shares of Xcel Energy by 1.1% in the 1st quarter. New Mexico Educational Retirement Board now owns 26,878 shares of the company’s stock valued at $1,903,000 after purchasing an additional 300 shares in the last quarter. Finally, LBP AM SA acquired a new position in Xcel Energy in the 1st quarter worth about $2,169,000. Institutional investors and hedge funds own 78.38% of the company’s stock.

Xcel Energy Price Performance

Xcel Energy stock opened at $80.91 on Friday. The company has a fifty day simple moving average of $77.80 and a 200-day simple moving average of $72.91. The firm has a market capitalization of $47.86 billion, a price-to-earnings ratio of 22.41, a PEG ratio of 2.81 and a beta of 0.38. The company has a quick ratio of 0.85, a current ratio of 0.96 and a debt-to-equity ratio of 1.48. Xcel Energy Inc. has a 52-week low of $62.58 and a 52-week high of $83.01.

Xcel Energy (NASDAQ:XEL) last posted its quarterly earnings results on Thursday, October 30th. The company reported $1.24 earnings per share for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.08). Xcel Energy had a return on equity of 10.52% and a net margin of 14.85%.The business had revenue of $3.92 billion for the quarter, compared to analyst estimates of $3.89 billion. During the same quarter in the previous year, the firm posted $1.25 earnings per share. The business’s revenue was up 7.4% compared to the same quarter last year. On average, equities analysts anticipate that Xcel Energy Inc. will post 3.82 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

XEL has been the topic of a number of recent analyst reports. BTIG Research upgraded Xcel Energy to a “strong-buy” rating in a research report on Wednesday, October 22nd. Royal Bank Of Canada started coverage on Xcel Energy in a research note on Tuesday, October 28th. They set a “moderate buy” rating for the company. BMO Capital Markets increased their target price on Xcel Energy from $84.00 to $87.00 and gave the company an “outperform” rating in a research report on Wednesday, October 15th. TD Cowen started coverage on shares of Xcel Energy in a research note on Thursday, October 16th. They issued a “buy” rating and a $93.00 price target on the stock. Finally, Evercore ISI began coverage on shares of Xcel Energy in a report on Monday, October 6th. They issued an “outperform” rating and a $92.00 price target for the company. Two analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $87.29.

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.