Retirement Systems of Alabama Reduces Position in Xcel Energy Inc. (NASDAQ:XEL)

Retirement Systems of Alabama decreased its holdings in Xcel Energy Inc. (NASDAQ:XEL) by 1.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 121,122 shares of the company’s stock after selling 1,445 shares during the period. Retirement Systems of Alabama’s holdings in Xcel Energy were worth $7,909,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. State Street Corp lifted its holdings in Xcel Energy by 6.7% during the 3rd quarter. State Street Corp now owns 37,143,025 shares of the company’s stock worth $2,445,477,000 after purchasing an additional 2,323,448 shares in the last quarter. Brookfield Corp ON increased its position in shares of Xcel Energy by 520.1% during the third quarter. Brookfield Corp ON now owns 2,509,031 shares of the company’s stock valued at $163,840,000 after buying an additional 2,104,405 shares during the period. Federated Hermes Inc. lifted its holdings in shares of Xcel Energy by 120.2% in the second quarter. Federated Hermes Inc. now owns 2,379,615 shares of the company’s stock worth $127,095,000 after buying an additional 1,299,025 shares in the last quarter. American Century Companies Inc. boosted its position in shares of Xcel Energy by 130.4% in the second quarter. American Century Companies Inc. now owns 2,084,345 shares of the company’s stock valued at $111,325,000 after acquiring an additional 1,179,823 shares during the period. Finally, Merewether Investment Management LP purchased a new position in Xcel Energy during the third quarter valued at approximately $64,301,000. Institutional investors own 78.38% of the company’s stock.

Xcel Energy Price Performance

Shares of NASDAQ:XEL opened at $68.08 on Wednesday. The company’s fifty day moving average is $67.47 and its 200 day moving average is $61.64. Xcel Energy Inc. has a 52 week low of $46.79 and a 52 week high of $73.38. The stock has a market cap of $39.09 billion, a PE ratio of 20.20, a PEG ratio of 2.79 and a beta of 0.41. The company has a quick ratio of 0.82, a current ratio of 0.93 and a debt-to-equity ratio of 1.42.

Xcel Energy (NASDAQ:XEL) last released its earnings results on Thursday, October 31st. The company reported $1.25 earnings per share for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.01). The company had revenue of $3.64 billion during the quarter, compared to the consensus estimate of $3.93 billion. Xcel Energy had a net margin of 13.67% and a return on equity of 10.76%. The company’s revenue was down .5% on a year-over-year basis. During the same period last year, the firm posted $1.23 EPS. Research analysts anticipate that Xcel Energy Inc. will post 3.54 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have issued reports on XEL. UBS Group increased their target price on shares of Xcel Energy from $66.00 to $67.00 and gave the stock a “neutral” rating in a research note on Friday, September 20th. Wells Fargo & Company increased their price objective on Xcel Energy from $63.00 to $66.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 16th. Argus upgraded Xcel Energy from a “hold” rating to a “buy” rating and set a $68.00 target price for the company in a research report on Monday, August 26th. Barclays raised their price target on Xcel Energy from $67.00 to $71.00 and gave the company an “overweight” rating in a report on Tuesday, November 26th. Finally, Morgan Stanley cut their price objective on Xcel Energy from $74.00 to $72.00 and set an “equal weight” rating for the company in a report on Friday, November 22nd. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $68.62.

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.