Envestnet Asset Management Inc. Buys 53,144 Shares of Xcel Energy Inc. $XEL

Envestnet Asset Management Inc. increased its stake in Xcel Energy Inc. (NASDAQ:XEL) by 3.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,407,412 shares of the company’s stock after purchasing an additional 53,144 shares during the period. Envestnet Asset Management Inc. owned 0.24% of Xcel Energy worth $95,845,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Navellier & Associates Inc. bought a new position in Xcel Energy in the 1st quarter worth approximately $2,735,000. J.W. Cole Advisors Inc. bought a new position in Xcel Energy in the 1st quarter worth approximately $905,000. Financial Gravity Asset Management Inc. acquired a new stake in Xcel Energy during the 1st quarter worth $329,000. Pinnacle Financial Partners Inc acquired a new stake in Xcel Energy during the 1st quarter worth $267,000. Finally, Nordea Investment Management AB grew its holdings in Xcel Energy by 10.3% during the 2nd quarter. Nordea Investment Management AB now owns 3,211,081 shares of the company’s stock worth $216,042,000 after acquiring an additional 299,484 shares during the period. Institutional investors own 78.38% of the company’s stock.

Wall Street Analyst Weigh In

XEL has been the subject of a number of analyst reports. KeyCorp lifted their target price 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. Bank of America lifted their target price on shares of Xcel Energy from $78.00 to $84.00 and gave the stock a “buy” rating in a report on Thursday, September 25th. Cowen began coverage on shares of Xcel Energy in a report on Wednesday, October 15th. They set a “buy” rating for the company. Mizuho boosted their price target on shares of Xcel Energy from $83.00 to $87.00 and gave the company an “outperform” rating in a report on Monday. Finally, Morgan Stanley set a $86.00 price target on shares of Xcel Energy and gave the company an “outperform” rating in a report on Wednesday, October 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, Xcel Energy presently has an average rating of “Buy” and an average target price of $86.54.

Xcel Energy Price Performance

Shares of XEL stock opened at $79.69 on Thursday. The firm has a market capitalization of $47.13 billion, a price-to-earnings ratio of 22.07, a price-to-earnings-growth ratio of 2.81 and a beta of 0.37. 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 12-month low of $62.58 and a 12-month high of $83.01. The firm has a fifty day moving average of $76.65 and a 200-day moving average of $72.38.

Xcel Energy (NASDAQ:XEL) last announced its earnings results on Thursday, July 31st. The company reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.09. The firm had revenue of $3.29 billion during the quarter, compared to analyst estimates of $3.31 billion. Xcel Energy had a net margin of 14.85% and a return on equity of 10.52%. The company’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.54 EPS. On average, equities research analysts forecast that Xcel Energy Inc. will post 3.82 earnings per share for the current year.

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.