Reaves W H & Co. Inc. lifted its stake in Xcel Energy Inc (NYSE:XEL) by 50.0% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 13,569 shares of the utilities provider’s stock after buying an additional 4,522 shares during the quarter. Reaves W H & Co. Inc.’s holdings in Xcel Energy were worth $807,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently modified their holdings of the company. BB&T Securities LLC boosted its position in Xcel Energy by 21.9% during the second quarter. BB&T Securities LLC now owns 13,082 shares of the utilities provider’s stock worth $779,000 after purchasing an additional 2,350 shares in the last quarter. Copperwynd Financial LLC boosted its position in Xcel Energy by 3.5% during the second quarter. Copperwynd Financial LLC now owns 27,231 shares of the utilities provider’s stock worth $1,620,000 after purchasing an additional 915 shares in the last quarter. LLBH Private Wealth Management LLC purchased a new position in Xcel Energy during the second quarter worth approximately $25,000. Commerce Bank boosted its position in Xcel Energy by 2.6% during the second quarter. Commerce Bank now owns 34,368 shares of the utilities provider’s stock worth $2,045,000 after purchasing an additional 884 shares in the last quarter. Finally, Palladium Partners LLC lifted its position in shares of Xcel Energy by 5.9% in the second quarter. Palladium Partners LLC now owns 22,975 shares of the utilities provider’s stock valued at $1,367,000 after acquiring an additional 1,285 shares in the last quarter. Hedge funds and other institutional investors own 73.96% of the company’s stock.
In related news, EVP Scott M. Wilensky sold 15,000 shares of the stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $61.71, for a total value of $925,650.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP David L. Eves sold 10,000 shares of the stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $57.23, for a total value of $572,300.00. Following the completion of the sale, the executive vice president now directly owns 58,681 shares of the company’s stock, valued at approximately $3,358,313.63. The disclosure for this sale can be found here. In the last ninety days, insiders sold 79,400 shares of company stock valued at $4,746,290. Insiders own 0.22% of the company’s stock.
Xcel Energy (NYSE:XEL) last posted its quarterly earnings results on Thursday, August 1st. The utilities provider reported $0.46 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.07). The company had revenue of $2.58 billion during the quarter, compared to analysts’ expectations of $2.84 billion. During the same period in the previous year, the company posted $0.52 earnings per share. The business’s revenue was down 3.0% on a year-over-year basis.
Several equities analysts have recently weighed in on the company. Argus raised their target price on Xcel Energy to $64.00 and gave the company a “buy” rating in a research report on Thursday, May 23rd. Zacks Investment Research upgraded Xcel Energy from a “sell” rating to a “hold” rating and set a $66.00 target price on the stock in a research report on Monday. Morgan Stanley decreased their target price on Xcel Energy from $61.00 to $60.00 and set an “equal weight” rating on the stock in a research report on Friday, August 16th. Barclays downgraded Xcel Energy from an “overweight” rating to an “equal weight” rating and set a $64.00 target price on the stock. in a research report on Tuesday, August 13th. They noted that the move was a valuation call. Finally, KeyCorp assumed coverage on Xcel Energy in a research report on Tuesday, June 4th. They issued an “overweight” rating and a $62.00 target price on the stock. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $60.00.
Xcel Energy Profile
Xcel Energy Inc is a public utility holding company. The Company’s operations include the activity of four utility subsidiaries that serve electric and natural gas customers in eight states. The Company’s segments include regulated electric utility, regulated natural gas utility and all other. The Company’s utility subsidiaries include NSP-Minnesota, NSP-Wisconsin, Public Service Company of Colorado (PSCo) and Southwestern Public Service Co (SPS), which serve customers in portions of Colorado, Michigan, Minnesota, New Mexico, North Dakota, South Dakota, Texas and Wisconsin.
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