Xcel Energy Inc. (NASDAQ:XEL) Stake Increased by CIBC Asset Management Inc

CIBC Asset Management Inc increased its holdings in shares of Xcel Energy Inc. (NASDAQ:XEL) by 4.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 241,246 shares of the company’s stock after buying an additional 10,533 shares during the quarter. CIBC Asset Management Inc’s holdings in Xcel Energy were worth $15,753,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of XEL. Avantax Advisory Services Inc. increased its stake in Xcel Energy by 1.3% in the 1st quarter. Avantax Advisory Services Inc. now owns 16,054 shares of the company’s stock valued at $863,000 after buying an additional 212 shares during the period. Nicolet Advisory Services LLC raised its holdings in shares of Xcel Energy by 55.7% during the first quarter. Nicolet Advisory Services LLC now owns 6,362 shares of the company’s stock worth $346,000 after acquiring an additional 2,277 shares in the last quarter. Ontario Teachers Pension Plan Board grew its stake in Xcel Energy by 68.9% in the first quarter. Ontario Teachers Pension Plan Board now owns 162,808 shares of the company’s stock valued at $8,751,000 after purchasing an additional 66,389 shares in the last quarter. Covestor Ltd grew its stake in Xcel Energy by 325.9% in the first quarter. Covestor Ltd now owns 1,316 shares of the company’s stock valued at $71,000 after purchasing an additional 1,007 shares in the last quarter. Finally, Ameritas Investment Partners Inc. increased its position in Xcel Energy by 109.3% in the 1st quarter. Ameritas Investment Partners Inc. now owns 47,590 shares of the company’s stock worth $2,558,000 after purchasing an additional 24,850 shares during the last quarter. 78.38% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Morgan Stanley boosted their price target on Xcel Energy from $68.00 to $73.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 25th. KeyCorp lifted their price objective on shares of Xcel Energy from $69.00 to $74.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Wells Fargo & Company increased their target price on shares of Xcel Energy from $63.00 to $66.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 16th. UBS Group upped their price target on Xcel Energy from $66.00 to $67.00 and gave the stock a “neutral” rating in a research note on Friday, September 20th. Finally, Barclays raised their price objective on Xcel Energy from $57.00 to $67.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Xcel Energy has an average rating of “Moderate Buy” and an average price target of $66.38.

Xcel Energy Trading Up 0.8 %

Shares of Xcel Energy stock opened at $69.46 on Friday. Xcel Energy Inc. has a 1 year low of $46.79 and a 1 year high of $69.90. The company’s fifty day simple moving average is $64.76 and its 200-day simple moving average is $59.18. The company has a market cap of $39.89 billion, a price-to-earnings ratio of 20.61, a PEG ratio of 2.80 and a beta of 0.38. The company has a current ratio of 0.93, a quick ratio of 0.82 and a debt-to-equity ratio of 1.42.

Xcel Energy (NASDAQ:XEL) last posted its quarterly earnings results on Thursday, October 31st. The company reported $1.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.26 by ($0.01). The company had revenue of $3.64 billion during the quarter, compared to analyst estimates of $3.93 billion. Xcel Energy had a return on equity of 10.76% and a net margin of 13.67%. The business’s revenue for the quarter was down .5% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.23 earnings per share. As a group, sell-side analysts expect that Xcel Energy Inc. will post 3.55 EPS for the current year.

About Xcel Energy

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.