Kingsview Wealth Management LLC Increases Stock Position in Xcel Energy Inc. (NASDAQ:XEL)

Kingsview Wealth Management LLC increased its position in Xcel Energy Inc. (NASDAQ:XEL) by 7.7% in the third quarter, Holdings Channel.com reports. The fund owned 9,283 shares of the company’s stock after purchasing an additional 667 shares during the period. Kingsview Wealth Management LLC’s holdings in Xcel Energy were worth $606,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in XEL. Cerity Partners LLC raised its stake in Xcel Energy by 79.4% during the 3rd quarter. Cerity Partners LLC now owns 272,761 shares of the company’s stock valued at $17,814,000 after buying an additional 120,685 shares during the last quarter. Great Valley Advisor Group Inc. raised its stake in Xcel Energy by 2.0% during the 3rd quarter. Great Valley Advisor Group Inc. now owns 19,982 shares of the company’s stock valued at $1,305,000 after buying an additional 383 shares during the last quarter. GenTrust LLC purchased a new stake in Xcel Energy during the 3rd quarter valued at $227,000. Raymond James Trust N.A. raised its stake in Xcel Energy by 1.8% during the 3rd quarter. Raymond James Trust N.A. now owns 18,367 shares of the company’s stock valued at $1,199,000 after buying an additional 317 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Xcel Energy by 2.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,417,615 shares of the company’s stock valued at $223,170,000 after buying an additional 67,820 shares during the last quarter. 78.38% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

XEL has been the subject of a number of research reports. Jefferies Financial Group upgraded shares of Xcel Energy from a “hold” rating to a “buy” rating and boosted their target price for the company from $71.00 to $76.00 in a research note on Friday, November 1st. KeyCorp boosted their price objective on shares of Xcel Energy from $69.00 to $74.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Barclays boosted their price objective on shares of Xcel Energy from $67.00 to $71.00 and gave the company an “overweight” rating in a research report on Tuesday. Morgan Stanley cut their price objective on shares of Xcel Energy from $74.00 to $72.00 and set an “equal weight” rating for the company in a research report on Friday, November 22nd. Finally, UBS Group boosted their price objective on shares of Xcel Energy from $66.00 to $67.00 and gave the company a “neutral” rating in a research report on Friday, September 20th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $66.62.

Xcel Energy Price Performance

Shares of NASDAQ:XEL opened at $72.92 on Thursday. The firm has a market cap of $41.87 billion, a price-to-earnings ratio of 21.64, a P/E/G ratio of 2.93 and a beta of 0.38. The firm has a fifty day moving average price of $65.88 and a 200 day moving average price of $60.14. Xcel Energy Inc. has a fifty-two week low of $46.79 and a fifty-two week high of $73.38. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.82 and a current ratio of 0.93.

Xcel Energy (NASDAQ:XEL) last issued its quarterly earnings data 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 firm had revenue of $3.64 billion for the quarter, compared to analysts’ expectations 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 for the quarter was down .5% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.23 EPS. As a group, sell-side analysts expect that Xcel Energy Inc. will post 3.54 earnings per share for the current fiscal 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.