Parallel Advisors LLC lifted its stake in Xcel Energy Inc (NYSE:XEL) by 8.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,579 shares of the utilities provider’s stock after buying an additional 353 shares during the period. Parallel Advisors LLC’s holdings in Xcel Energy were worth $272,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Townsend & Associates Inc increased its holdings in shares of Xcel Energy by 0.6% in the second quarter. Townsend & Associates Inc now owns 28,904 shares of the utilities provider’s stock worth $1,755,000 after buying an additional 166 shares during the period. 6 Meridian increased its holdings in Xcel Energy by 1.8% during the 2nd quarter. 6 Meridian now owns 9,558 shares of the utilities provider’s stock valued at $569,000 after purchasing an additional 167 shares during the period. Sandy Spring Bank increased its holdings in Xcel Energy by 8.1% during the 1st quarter. Sandy Spring Bank now owns 2,425 shares of the utilities provider’s stock valued at $136,000 after purchasing an additional 182 shares during the period. Advisor Partners LLC increased its holdings in Xcel Energy by 1.4% during the 2nd quarter. Advisor Partners LLC now owns 14,057 shares of the utilities provider’s stock valued at $836,000 after purchasing an additional 188 shares during the period. Finally, Canandaigua National Bank & Trust Co. increased its holdings in Xcel Energy by 1.3% during the 1st quarter. Canandaigua National Bank & Trust Co. now owns 15,036 shares of the utilities provider’s stock valued at $845,000 after purchasing an additional 195 shares during the period. Hedge funds and other institutional investors own 73.96% of the company’s stock.
In other Xcel Energy news, EVP Scott M. Wilensky sold 15,000 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $61.71, for a total transaction of $925,650.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Benjamin G. S. Fowke III sold 50,000 shares of the company’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $59.81, for a total value of $2,990,500.00. Following the transaction, the chief executive officer now owns 608,862 shares in the company, valued at approximately $36,416,036.22. The disclosure for this sale can be found here. Insiders have sold a total of 79,400 shares of company stock worth $4,746,290 in the last quarter. Company insiders own 0.22% of the company’s stock.
Xcel Energy (NYSE:XEL) last posted its earnings results on Thursday, August 1st. The utilities provider reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.07). The business had revenue of $2.58 billion during the quarter, compared to analysts’ expectations of $2.84 billion. During the same quarter last year, the business earned $0.52 EPS. The business’s revenue for the quarter was down 3.0% on a year-over-year basis.
XEL has been the topic of a number of research analyst reports. Morgan Stanley reduced their price target on Xcel Energy from $61.00 to $60.00 and set an “equal weight” rating on the stock in a report on Friday, August 16th. Wolfe Research set a $57.00 price target on Xcel Energy and gave the company a “hold” rating in a report on Friday, April 26th. Zacks Investment Research downgraded Xcel Energy from a “hold” rating to a “sell” rating and set a $64.00 price target on the stock. in a report on Saturday, July 27th. KeyCorp initiated coverage on Xcel Energy in a report on Tuesday, June 4th. They set an “overweight” rating and a $62.00 price target on the stock. Finally, Argus boosted their price target on Xcel Energy to $64.00 and gave the company a “buy” rating in a report on Thursday, May 23rd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $59.71.
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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