OVERSEA CHINESE BANKING Corp Ltd Buys New Stake in Xcel Energy Inc. (NASDAQ:XEL)

OVERSEA CHINESE BANKING Corp Ltd purchased a new position in Xcel Energy Inc. (NASDAQ:XEL) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 3,662 shares of the company’s stock, valued at approximately $239,000.

Several other large investors have also made changes to their positions in XEL. Price T Rowe Associates Inc. MD lifted its position in shares of Xcel Energy by 770.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 7,552,625 shares of the company’s stock valued at $405,955,000 after acquiring an additional 6,684,499 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its position in shares of Xcel Energy by 1.8% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 4,186,101 shares of the company’s stock valued at $223,264,000 after acquiring an additional 74,690 shares during the last quarter. Federated Hermes Inc. lifted its holdings in shares of Xcel Energy by 120.2% in the 2nd quarter. Federated Hermes Inc. now owns 2,379,615 shares of the company’s stock worth $127,095,000 after acquiring an additional 1,299,025 shares during the last quarter. American Century Companies Inc. boosted its position in shares of Xcel Energy by 130.4% during the 2nd quarter. American Century Companies Inc. now owns 2,084,345 shares of the company’s stock worth $111,325,000 after purchasing an additional 1,179,823 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in Xcel Energy by 10.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,854,333 shares of the company’s stock valued at $99,046,000 after purchasing an additional 174,653 shares during the last quarter. 78.38% of the stock is owned by institutional investors and hedge funds.

Xcel Energy Price Performance

Xcel Energy stock opened at $68.91 on Friday. The company has a current ratio of 0.93, a quick ratio of 0.82 and a debt-to-equity ratio of 1.42. The company has a fifty day simple moving average of $64.52 and a 200-day simple moving average of $59.00. The stock has a market cap of $39.57 billion, a P/E ratio of 20.45, a price-to-earnings-growth ratio of 2.80 and a beta of 0.38. Xcel Energy Inc. has a 12-month low of $46.79 and a 12-month high of $69.53.

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

Wall Street Analyst Weigh In

XEL has been the subject of a number of research reports. Barclays lifted 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. Argus upgraded shares of Xcel Energy from a “hold” rating to a “buy” rating and set a $68.00 price target on the stock in a research note on Monday, August 26th. UBS Group raised their price objective on shares of Xcel Energy from $66.00 to $67.00 and gave the company a “neutral” rating in a research note on Friday, September 20th. KeyCorp upped their target price on shares of Xcel Energy from $69.00 to $74.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Finally, Morgan Stanley raised their price target on shares of Xcel Energy from $68.00 to $73.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 25th. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $66.38.

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.