New York State Common Retirement Fund Lowers Stock Position in Xcel Energy Inc. (NASDAQ:XEL)

New York State Common Retirement Fund cut its stake in shares of Xcel Energy Inc. (NASDAQ:XEL) by 20.9% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 250,598 shares of the company’s stock after selling 66,400 shares during the period. New York State Common Retirement Fund’s holdings in Xcel Energy were worth $16,364,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. TruNorth Capital Management LLC purchased a new stake in shares of Xcel Energy during the 2nd quarter valued at $30,000. American National Bank purchased a new stake in shares of Xcel Energy during the 2nd quarter valued at $32,000. Kimelman & Baird LLC purchased a new stake in shares of Xcel Energy during the 2nd quarter valued at $35,000. Rothschild Investment LLC purchased a new stake in shares of Xcel Energy during the 2nd quarter valued at $37,000. Finally, Voisard Asset Management Group Inc. purchased a new stake in shares of Xcel Energy during the 2nd quarter valued at $43,000. 78.38% of the stock is owned by hedge funds and other institutional investors.

Xcel Energy Stock Performance

Shares of XEL stock opened at $66.33 on Wednesday. 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 Inc. has a one year low of $46.79 and a one year high of $68.36. The company’s 50-day simple moving average is $63.80 and its 200-day simple moving average is $58.49. The stock has a market capitalization of $36.98 billion, a price-to-earnings ratio of 19.68, a PEG ratio of 2.94 and a beta of 0.38.

Xcel Energy (NASDAQ:XEL) last issued its quarterly earnings results on Thursday, October 31st. The company reported $1.25 EPS for the quarter, missing the consensus estimate of $1.26 by ($0.01). Xcel Energy had a return on equity of 10.76% and a net margin of 13.67%. The company had revenue of $3.64 billion for the quarter, compared to the consensus estimate of $3.93 billion. During the same period in the previous year, the business posted $1.23 EPS. The business’s revenue for the quarter was down .5% on a year-over-year basis. Equities analysts anticipate that Xcel Energy Inc. will post 3.55 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on XEL. KeyCorp increased their price target on Xcel Energy from $69.00 to $74.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Wells Fargo & Company increased their price target on Xcel Energy from $63.00 to $66.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. Argus upgraded Xcel Energy from a “hold” rating to a “buy” rating and set a $68.00 price target for the company in a report on Monday, August 26th. Barclays increased their price target on Xcel Energy from $57.00 to $67.00 and gave the company an “overweight” rating in a report on Monday, October 21st. Finally, Jefferies Financial Group upgraded Xcel Energy from a “hold” rating to a “buy” rating and increased their price target for the company from $71.00 to $76.00 in a report on Friday, November 1st. 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, Xcel Energy has a consensus rating of “Moderate Buy” and a consensus target price of $66.38.

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.