Associated Banc Corp Reduces Stock Position in Xcel Energy Inc. $XEL

Associated Banc Corp lessened its position in Xcel Energy Inc. (NASDAQ:XEL) by 1.0% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 288,176 shares of the company’s stock after selling 3,017 shares during the period. Associated Banc Corp’s holdings in Xcel Energy were worth $19,625,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of XEL. Clearstead Trust LLC grew its stake in shares of Xcel Energy by 202.2% in the second quarter. Clearstead Trust LLC now owns 417 shares of the company’s stock worth $28,000 after purchasing an additional 279 shares during the last quarter. Accent Capital Management LLC bought a new position in Xcel Energy during the 1st quarter valued at approximately $29,000. Rise Advisors LLC lifted its holdings in Xcel Energy by 62.9% in the 2nd quarter. Rise Advisors LLC now owns 518 shares of the company’s stock worth $35,000 after buying an additional 200 shares during the period. Marshall & Sullivan Inc. WA bought a new stake in shares of Xcel Energy in the 2nd quarter worth approximately $44,000. Finally, RMG Wealth Management LLC bought a new stake in shares of Xcel Energy in the 2nd quarter worth approximately $46,000. Hedge funds and other institutional investors own 78.38% of the company’s stock.

Xcel Energy Trading Up 0.7%

Xcel Energy stock opened at $80.26 on Tuesday. Xcel Energy Inc. has a one year low of $62.58 and a one year high of $83.01. The business’s fifty day moving average is $79.55 and its 200 day moving average is $73.70. The stock has a market capitalization of $47.48 billion, a PE ratio of 22.23, a price-to-earnings-growth ratio of 2.81 and a beta of 0.38. The company has a debt-to-equity ratio of 1.48, a current ratio of 0.96 and a quick ratio of 0.85.

Xcel Energy (NASDAQ:XEL) last posted its earnings results on Wednesday, October 29th. The company reported $1.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.32 by ($0.08). The company had revenue of $3.92 billion for the quarter, compared to the consensus estimate of $3.89 billion. Xcel Energy had a net margin of 14.85% and a return on equity of 10.52%. During the same quarter in the prior year, the company posted $1.25 EPS. Xcel Energy’s revenue was up 7.4% on a year-over-year basis. On average, sell-side analysts predict that Xcel Energy Inc. will post 3.82 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Cowen initiated coverage on Xcel Energy in a report on Wednesday, October 15th. They set a “buy” rating for the company. TD Cowen began coverage on shares of Xcel Energy in a report on Thursday, October 16th. They issued a “buy” rating and a $93.00 price objective for the company. Citigroup raised their target price on shares of Xcel Energy from $80.00 to $92.00 and gave the stock a “buy” rating in a research report on Monday, November 3rd. BTIG Research upgraded shares of Xcel Energy to a “strong-buy” rating in a research report on Wednesday, October 22nd. Finally, KeyCorp raised their price objective on shares of Xcel Energy from $79.00 to $85.00 and gave the stock an “overweight” rating in a report on Wednesday, October 15th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $87.14.

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.