State Board of Administration of Florida Retirement System lifted its stake in shares of Xcel Energy Inc (NYSE:XEL) by 0.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 750,898 shares of the utilities provider’s stock after purchasing an additional 5,362 shares during the quarter. State Board of Administration of Florida Retirement System owned about 0.15% of Xcel Energy worth $44,671,000 at the end of the most recent quarter.
Several other institutional investors also recently added to or reduced their stakes in XEL. BlackRock Inc. raised its position in Xcel Energy by 1.4% in the first quarter. BlackRock Inc. now owns 47,780,041 shares of the utilities provider’s stock worth $2,685,715,000 after acquiring an additional 666,776 shares in the last quarter. JPMorgan Chase & Co. raised its position in Xcel Energy by 6.1% in the first quarter. JPMorgan Chase & Co. now owns 39,118,840 shares of the utilities provider’s stock worth $2,198,871,000 after acquiring an additional 2,250,610 shares in the last quarter. Geode Capital Management LLC raised its position in Xcel Energy by 12.5% in the fourth quarter. Geode Capital Management LLC now owns 7,770,007 shares of the utilities provider’s stock worth $382,256,000 after acquiring an additional 863,010 shares in the last quarter. Northern Trust Corp raised its position in Xcel Energy by 1.9% in the first quarter. Northern Trust Corp now owns 6,865,146 shares of the utilities provider’s stock worth $385,890,000 after acquiring an additional 130,963 shares in the last quarter. Finally, American Century Companies Inc. raised its position in Xcel Energy by 3.4% in the first quarter. American Century Companies Inc. now owns 5,369,668 shares of the utilities provider’s stock worth $301,829,000 after acquiring an additional 174,683 shares in the last quarter. Institutional investors and hedge funds own 73.96% of the company’s stock.
Xcel Energy stock traded up $0.08 during trading hours on Thursday, hitting $63.08. The stock had a trading volume of 51,036 shares, compared to its average volume of 3,222,375. Xcel Energy Inc has a 1-year low of $46.01 and a 1-year high of $63.03. The stock’s fifty day moving average is $60.96 and its two-hundred day moving average is $57.68.
Xcel Energy (NYSE:XEL) last posted its earnings results on Thursday, August 1st. The utilities provider reported $0.46 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.53 by ($0.07). The business had revenue of $2.58 billion during the quarter, compared to the consensus estimate of $2.84 billion. The business’s revenue was down 3.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.52 earnings per share.
XEL has been the subject of several research analyst reports. Morgan Stanley cut their price objective on Xcel Energy from $61.00 to $60.00 and set an “equal weight” rating for the company in a research report on Friday, August 16th. Argus increased their price objective on Xcel Energy to $64.00 and gave the stock a “buy” rating in a research report on Thursday, May 23rd. Zacks Investment Research cut Xcel Energy from a “hold” rating to a “sell” rating and set a $64.00 price objective for the company. in a research report on Saturday, July 27th. Barclays cut Xcel Energy from an “overweight” rating to an “equal weight” rating and set a $64.00 price objective for the company. in a research report on Tuesday, August 13th. They noted that the move was a valuation call. Finally, KeyCorp started coverage on Xcel Energy in a report on Tuesday, June 4th. They issued an “overweight” rating and a $62.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $59.71.
In related news, CEO Benjamin G. S. Fowke III sold 50,000 shares of the stock in a transaction on Friday, June 7th. The stock was sold at an average price of $59.81, for a total transaction of $2,990,500.00. Following the sale, the chief executive officer now owns 608,862 shares of the company’s stock, valued at $36,416,036.22. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Scott M. Wilensky sold 15,000 shares of the stock in a transaction on Friday, August 16th. The shares were sold at an average price of $61.71, for a total value of $925,650.00. The disclosure for this sale can be found here. Insiders sold 79,400 shares of company stock worth $4,746,290 in the last three months. 0.22% of the stock is owned by corporate insiders.
Xcel Energy Company Profile
Xcel Energy Inc is a public utility holding company. The Company’s operations include the activity of four utility subsidiaries that serve electric and natural gas customers in eight states. The Company’s segments include regulated electric utility, regulated natural gas utility and all other. The Company’s utility subsidiaries include NSP-Minnesota, NSP-Wisconsin, Public Service Company of Colorado (PSCo) and Southwestern Public Service Co (SPS), which serve customers in portions of Colorado, Michigan, Minnesota, New Mexico, North Dakota, South Dakota, Texas and Wisconsin.
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