Xcel Energy Inc. $XEL Shares Acquired by Balyasny Asset Management L.P.

Balyasny Asset Management L.P. increased its position in shares of Xcel Energy Inc. (NASDAQ:XEL) by 2,324.9% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,716,351 shares of the company’s stock after purchasing an additional 1,645,571 shares during the period. Balyasny Asset Management L.P. owned approximately 0.29% of Xcel Energy worth $116,884,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. Sequoia Financial Advisors LLC lifted its holdings in Xcel Energy by 35.4% in the second quarter. Sequoia Financial Advisors LLC now owns 35,803 shares of the company’s stock valued at $2,438,000 after acquiring an additional 9,355 shares during the period. Nordea Investment Management AB increased its holdings in shares of Xcel Energy by 10.3% in the 2nd quarter. Nordea Investment Management AB now owns 3,211,081 shares of the company’s stock valued at $216,042,000 after purchasing an additional 299,484 shares in the last quarter. Financial Gravity Companies Inc. acquired a new stake in shares of Xcel Energy in the second quarter valued at about $317,000. Electron Capital Partners LLC boosted its holdings in Xcel Energy by 93.7% during the first quarter. Electron Capital Partners LLC now owns 1,921,636 shares of the company’s stock worth $136,033,000 after buying an additional 929,516 shares in the last quarter. Finally, Atlantic Union Bankshares Corp acquired a new position in Xcel Energy during the second quarter worth about $389,000. Hedge funds and other institutional investors own 78.38% of the company’s stock.

Xcel Energy Trading Up 0.6%

Shares of Xcel Energy stock opened at $75.15 on Friday. Xcel Energy Inc. has a 1 year low of $62.58 and a 1 year high of $83.01. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.79 and a quick ratio of 0.69. The business has a 50 day moving average price of $80.02 and a 200 day moving average price of $74.42. The company has a market capitalization of $44.45 billion, a P/E ratio of 22.91, a P/E/G ratio of 2.21 and a beta of 0.45.

Xcel Energy (NASDAQ:XEL) last released its quarterly earnings results on Wednesday, October 29th. The company reported $1.24 earnings per share for the quarter, missing the consensus estimate of $1.32 by ($0.08). Xcel Energy had a return on equity of 10.45% and a net margin of 13.46%.The company had revenue of $3.92 billion for the quarter, compared to analysts’ expectations of $3.89 billion. During the same period in the previous year, the business posted $1.25 EPS. The business’s quarterly revenue was up 7.4% on a year-over-year basis. Sell-side analysts anticipate that Xcel Energy Inc. will post 3.82 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on XEL shares. Weiss Ratings upgraded shares of Xcel Energy from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, October 24th. Argus raised Xcel Energy to a “strong-buy” rating in a research note on Wednesday, December 3rd. TD Cowen assumed coverage on Xcel Energy in a report on Thursday, October 16th. They set a “buy” rating and a $93.00 price objective for the company. Barclays boosted their target price on Xcel Energy from $83.00 to $85.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 5th. Finally, JPMorgan Chase & Co. dropped their price target on Xcel Energy from $90.00 to $87.00 and set an “overweight” rating for the company in a research report on Thursday. Three investment 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 issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $87.57.

Xcel Energy 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.