Westpac Banking Corp Grows Holdings in Xcel Energy Inc. $XEL

Westpac Banking Corp increased its holdings in shares of Xcel Energy Inc. (NASDAQ:XEL) by 28.7% in the second quarter, Holdings Channel reports. The firm owned 79,588 shares of the company’s stock after buying an additional 17,750 shares during the quarter. Westpac Banking Corp’s holdings in Xcel Energy were worth $5,420,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the business. Brighton Jones LLC acquired a new position in Xcel Energy in the 4th quarter valued at about $240,000. Graypoint LLC grew its stake in shares of Xcel Energy by 6.2% in the 1st quarter. Graypoint LLC now owns 4,267 shares of the company’s stock valued at $302,000 after purchasing an additional 248 shares during the last quarter. Bailard Inc. increased its holdings in shares of Xcel Energy by 11.1% in the first quarter. Bailard Inc. now owns 14,258 shares of the company’s stock valued at $1,009,000 after purchasing an additional 1,421 shares during the period. Diversify Advisory Services LLC acquired a new position in shares of Xcel Energy in the first quarter valued at approximately $382,000. Finally, AMG National Trust Bank raised its stake in shares of Xcel Energy by 598.8% during the first quarter. AMG National Trust Bank now owns 33,466 shares of the company’s stock worth $2,369,000 after purchasing an additional 28,677 shares during the last quarter. 78.38% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Royal Bank Of Canada assumed coverage on shares of Xcel Energy in a research report on Tuesday, October 28th. They issued a “moderate buy” rating on the stock. UBS Group set a $85.00 target price on shares of Xcel Energy in a report on Wednesday, November 5th. TD Cowen started coverage on Xcel Energy in a report on Thursday, October 16th. They issued a “buy” rating and a $93.00 price objective on the stock. Barclays boosted their target price on Xcel Energy from $83.00 to $85.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 5th. Finally, BMO Capital Markets lifted their price target on Xcel Energy from $84.00 to $87.00 and gave the company an “outperform” rating in a research note on Wednesday, October 15th. Two analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $87.29.

Xcel Energy Stock Performance

NASDAQ:XEL opened at $80.58 on Friday. The company has a current ratio of 0.96, a quick ratio of 0.85 and a debt-to-equity ratio of 1.48. Xcel Energy Inc. has a twelve month low of $62.58 and a twelve month high of $83.01. The company has a market capitalization of $47.67 billion, a P/E ratio of 22.32, a price-to-earnings-growth ratio of 2.81 and a beta of 0.38. The firm has a 50-day moving average price of $78.63 and a two-hundred day moving average price of $73.28.

Xcel Energy (NASDAQ:XEL) last announced its earnings results on Wednesday, October 29th. The company reported $1.24 EPS for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.08). Xcel Energy had a net margin of 14.85% and a return on equity of 10.52%. The company had revenue of $3.92 billion for the quarter, compared to analyst estimates of $3.89 billion. During the same quarter last year, the company posted $1.25 EPS. Xcel Energy’s quarterly revenue was up 7.4% compared to the same quarter last year. As a group, research analysts expect that Xcel Energy Inc. will post 3.82 earnings per share for the current fiscal 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.