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

Concord Asset Management LLC VA acquired a new position in Xcel Energy Inc. (NASDAQ:XEL) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 3,201 shares of the company’s stock, valued at approximately $209,000.

Several other hedge funds also recently bought and sold shares of the company. Integris Wealth Management LLC boosted its holdings in Xcel Energy by 2.7% in the 3rd quarter. Integris Wealth Management LLC now owns 6,163 shares of the company’s stock worth $402,000 after buying an additional 163 shares during the period. Bond & Devick Financial Network Inc. boosted its holdings in Xcel Energy by 1.1% in the 3rd quarter. Bond & Devick Financial Network Inc. now owns 15,972 shares of the company’s stock worth $1,043,000 after buying an additional 168 shares during the period. Gateway Wealth Partners LLC boosted its holdings in shares of Xcel Energy by 4.3% during the 2nd quarter. Gateway Wealth Partners LLC now owns 4,413 shares of the company’s stock valued at $236,000 after purchasing an additional 182 shares during the last quarter. Sumitomo Life Insurance Co. boosted its holdings in shares of Xcel Energy by 2.9% during the 3rd quarter. Sumitomo Life Insurance Co. now owns 6,591 shares of the company’s stock valued at $430,000 after purchasing an additional 183 shares during the last quarter. Finally, Dakota Wealth Management boosted its holdings in shares of Xcel Energy by 0.9% during the 3rd quarter. Dakota Wealth Management now owns 22,979 shares of the company’s stock valued at $1,500,000 after purchasing an additional 205 shares during the last quarter. Institutional investors own 78.38% of the company’s stock.

Xcel Energy Stock Performance

Xcel Energy stock opened at $69.46 on Monday. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.93 and a quick ratio of 0.82. Xcel Energy Inc. has a 1-year low of $46.79 and a 1-year high of $69.90. The firm has a market capitalization of $39.89 billion, a P/E ratio of 20.61, a price-to-earnings-growth ratio of 2.84 and a beta of 0.38. The company’s 50-day moving average is $64.76 and its 200 day moving average is $59.25.

Xcel Energy (NASDAQ:XEL) last posted 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 return on equity of 10.76% and a net margin of 13.67%. The firm had revenue of $3.64 billion during the quarter, compared to analysts’ expectations of $3.93 billion. During the same period last year, the company earned $1.23 earnings per share. The business’s revenue for the quarter was down .5% compared to the same quarter last year. Research analysts forecast that Xcel Energy Inc. will post 3.55 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have commented on XEL. KeyCorp increased their price objective on shares of 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 objective on shares of Xcel Energy from $63.00 to $66.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. Argus raised shares of Xcel Energy from a “hold” rating to a “buy” rating and set a $68.00 price objective for the company in a report on Monday, August 26th. 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 report on Friday, September 20th. Finally, Jefferies Financial Group raised shares of Xcel Energy from a “hold” rating to a “buy” rating and increased their price objective for the company from $71.00 to $76.00 in a report on Friday, November 1st. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $66.38.

About Xcel Energy

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.