Xcel Energy Inc. (NASDAQ:XEL) Shares Bought by CIBC Asset Management Inc

CIBC Asset Management Inc raised its stake in Xcel Energy Inc. (NASDAQ:XEL) by 4.6% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 241,246 shares of the company’s stock after purchasing an additional 10,533 shares during the period. CIBC Asset Management Inc’s holdings in Xcel Energy were worth $15,753,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of XEL. OneDigital Investment Advisors LLC increased its holdings in Xcel Energy by 7.6% in the third quarter. OneDigital Investment Advisors LLC now owns 14,148 shares of the company’s stock valued at $924,000 after buying an additional 998 shares during the last quarter. ING Groep NV grew its position in shares of Xcel Energy by 85.0% in the 3rd quarter. ING Groep NV now owns 231,482 shares of the company’s stock worth $15,116,000 after acquiring an additional 106,326 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. increased its holdings in shares of Xcel Energy by 3.6% in the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 14,836 shares of the company’s stock valued at $969,000 after acquiring an additional 511 shares during the last quarter. Metis Global Partners LLC raised its position in shares of Xcel Energy by 15.9% during the 3rd quarter. Metis Global Partners LLC now owns 39,828 shares of the company’s stock valued at $2,601,000 after acquiring an additional 5,450 shares in the last quarter. Finally, Curi RMB Capital LLC raised its holdings in shares of Xcel Energy by 14.9% during the third quarter. Curi RMB Capital LLC now owns 5,218 shares of the company’s stock worth $341,000 after purchasing an additional 676 shares during the period. Institutional investors and hedge funds own 78.38% of the company’s stock.

Analysts Set New Price Targets

XEL has been the topic of several recent research reports. Morgan Stanley raised their price target on Xcel Energy from $68.00 to $73.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 25th. KeyCorp lifted 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. UBS Group increased their price objective on Xcel Energy from $66.00 to $67.00 and gave the stock a “neutral” rating in a report on Friday, September 20th. Argus upgraded Xcel Energy from a “hold” rating to a “buy” rating and set a $68.00 price target for the company in a research report on Monday, August 26th. Finally, Jefferies Financial Group raised Xcel Energy from a “hold” rating to a “buy” rating and raised their price target 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 issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $66.38.

Xcel Energy Price Performance

NASDAQ XEL opened at $69.46 on Friday. Xcel Energy Inc. has a 1 year low of $46.79 and a 1 year high of $69.90. The business’s fifty day moving average is $64.76 and its two-hundred day moving average is $59.18. The stock has a market capitalization of $39.89 billion, a P/E ratio of 20.61, a P/E/G ratio of 2.80 and a beta of 0.38. 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 (NASDAQ:XEL) last announced its earnings results on Thursday, October 31st. The company reported $1.25 earnings per share (EPS) 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 company had revenue of $3.64 billion for the quarter, compared to analyst estimates of $3.93 billion. During the same period last year, the firm earned $1.23 earnings per share. The firm’s revenue for the quarter was down .5% on a year-over-year basis. On average, research analysts forecast that Xcel Energy Inc. will post 3.55 earnings per share for the current fiscal year.

Xcel Energy Company 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.