Concord Asset Management LLC VA Invests $209,000 in Xcel Energy Inc. (NASDAQ:XEL)

Concord Asset Management LLC VA bought a new position in shares of Xcel Energy Inc. (NASDAQ:XEL) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 3,201 shares of the company’s stock, valued at approximately $209,000.

Other institutional investors have also modified their holdings of the company. Ashton Thomas Securities LLC purchased a new position in shares of Xcel Energy during the third quarter worth approximately $25,000. Transcendent Capital Group LLC bought a new position in shares of Xcel Energy during the third quarter valued at approximately $33,000. TruNorth Capital Management LLC bought a new position in shares of Xcel Energy during the second quarter valued at approximately $30,000. American National Bank bought a new position in shares of Xcel Energy during the second quarter valued at approximately $32,000. Finally, Kimelman & Baird LLC bought a new position in shares of Xcel Energy during the second quarter valued at approximately $35,000. 78.38% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

XEL has been the topic of a number of recent research reports. Barclays increased their price objective on shares of Xcel Energy from $57.00 to $67.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. UBS Group increased 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. Morgan Stanley raised their target price on shares of Xcel Energy from $68.00 to $73.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 25th. Jefferies Financial Group upgraded shares of Xcel Energy from a “hold” rating to a “buy” rating and raised their target price for the company from $71.00 to $76.00 in a research note on Friday, November 1st. Finally, Argus upgraded shares of Xcel Energy from a “hold” rating to a “buy” rating and set a $68.00 target price for the company in a research note on Monday, August 26th. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $66.38.

Xcel Energy Stock Up 0.8 %

XEL opened at $69.46 on Monday. Xcel Energy Inc. has a fifty-two week low of $46.79 and a fifty-two week high of $69.90. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.82 and a current ratio of 0.93. The company has a fifty day moving average of $64.76 and a two-hundred day moving average of $59.25. The stock has a market capitalization of $39.89 billion, a price-to-earnings ratio of 20.61, a PEG ratio of 2.84 and a beta of 0.38.

Xcel Energy (NASDAQ:XEL) last released 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). Xcel Energy had a net margin of 13.67% and a return on equity of 10.76%. The firm had revenue of $3.64 billion during the quarter, compared to analysts’ expectations of $3.93 billion. During the same period in the previous year, the firm posted $1.23 EPS. The firm’s quarterly revenue was down .5% on a year-over-year basis. On average, research analysts expect that Xcel Energy Inc. will post 3.55 earnings per share for the current year.

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.