Assetmark Inc. Boosts Stock Holdings in Xcel Energy Inc. $XEL

Assetmark Inc. raised its holdings in shares of Xcel Energy Inc. (NASDAQ:XEL) by 13.0% during the second quarter, according to its most recent filing with the SEC. The firm owned 168,596 shares of the company’s stock after purchasing an additional 19,407 shares during the period. Assetmark Inc.’s holdings in Xcel Energy were worth $11,481,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. Arkadios Wealth Advisors increased its position in Xcel Energy by 4.4% during the 2nd quarter. Arkadios Wealth Advisors now owns 8,706 shares of the company’s stock valued at $593,000 after purchasing an additional 368 shares during the period. World Investment Advisors increased its position in Xcel Energy by 47.1% during the 2nd quarter. World Investment Advisors now owns 6,788 shares of the company’s stock valued at $462,000 after purchasing an additional 2,172 shares during the period. New York Life Investment Management LLC increased its position in Xcel Energy by 2.7% during the 2nd quarter. New York Life Investment Management LLC now owns 78,653 shares of the company’s stock valued at $5,356,000 after purchasing an additional 2,051 shares during the period. Howard Capital Management Inc. increased its position in Xcel Energy by 16.3% during the 2nd quarter. Howard Capital Management Inc. now owns 16,949 shares of the company’s stock valued at $1,164,000 after purchasing an additional 2,372 shares during the period. Finally, Teacher Retirement System of Texas increased its position in Xcel Energy by 4.2% during the 2nd quarter. Teacher Retirement System of Texas now owns 87,463 shares of the company’s stock valued at $5,956,000 after purchasing an additional 3,516 shares during the period. Hedge funds and other institutional investors own 78.38% of the company’s stock.

Analysts Set New Price Targets

XEL has been the topic of a number of analyst reports. Mizuho lifted their price objective on shares of Xcel Energy from $83.00 to $87.00 and gave the stock an “outperform” rating in a research report on Monday, October 27th. BMO Capital Markets lifted their price objective on shares of Xcel Energy from $84.00 to $87.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 15th. Royal Bank Of Canada initiated coverage on shares of Xcel Energy in a research report on Tuesday, October 28th. They issued a “moderate buy” rating on the stock. Evercore ISI initiated coverage on shares of Xcel Energy in a research report on Monday, October 6th. They issued an “outperform” rating and a $92.00 price objective on the stock. Finally, Cowen initiated coverage on shares of Xcel Energy in a research report on Wednesday, October 15th. They issued a “buy” rating on the stock. Two 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 stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $86.69.

Xcel Energy Stock Down 0.5%

XEL stock opened at $81.17 on Friday. The firm has a 50 day moving average of $76.96 and a 200 day moving average of $72.53. The stock has a market capitalization of $48.01 billion, a PE ratio of 22.48, 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 52 week low of $62.58 and a 52 week high of $83.01.

Xcel Energy (NASDAQ:XEL) last released its earnings results on Thursday, October 30th. The company reported $1.24 EPS for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.08). The company had revenue of $3.92 billion during the quarter, compared to analyst estimates of $3.89 billion. Xcel Energy had a return on equity of 10.52% and a net margin of 14.85%.The firm’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same quarter last year, the business earned $1.25 earnings per share. Sell-side 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.