Daiwa Securities Group Inc. Acquires 69,505 Shares of Xcel Energy Inc. $XEL

Daiwa Securities Group Inc. increased its holdings in shares of Xcel Energy Inc. (NASDAQ:XEL) by 56.1% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 193,482 shares of the company’s stock after buying an additional 69,505 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Xcel Energy were worth $13,176,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the business. Sequoia Financial Advisors LLC boosted its holdings in shares of Xcel Energy by 35.4% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 35,803 shares of the company’s stock valued at $2,438,000 after acquiring an additional 9,355 shares in the last quarter. Nordea Investment Management AB raised its position in Xcel Energy by 10.3% in the second quarter. Nordea Investment Management AB now owns 3,211,081 shares of the company’s stock valued at $216,042,000 after purchasing an additional 299,484 shares during the last quarter. Financial Gravity Companies Inc. bought a new position in Xcel Energy in the second quarter valued at about $317,000. Electron Capital Partners LLC boosted its stake in shares of Xcel Energy by 93.7% during the first quarter. Electron Capital Partners LLC now owns 1,921,636 shares of the company’s stock valued at $136,033,000 after purchasing an additional 929,516 shares in the last quarter. Finally, Atlantic Union Bankshares Corp bought a new stake in shares of Xcel Energy during the second quarter worth about $389,000. Institutional investors and hedge funds own 78.38% of the company’s stock.

Xcel Energy Stock Performance

Shares of XEL stock opened at $74.62 on Thursday. The firm has a 50 day moving average of $80.23 and a 200-day moving average of $74.38. The company has a market cap of $44.14 billion, a price-to-earnings ratio of 22.75, a price-to-earnings-growth ratio of 2.24 and a beta of 0.45. The company has a quick ratio of 0.69, a current ratio of 0.79 and a debt-to-equity ratio of 1.51. Xcel Energy Inc. has a 52 week low of $62.58 and a 52 week high of $83.01.

Xcel Energy (NASDAQ:XEL) last issued its earnings results on Wednesday, October 29th. The company reported $1.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.32 by ($0.08). Xcel Energy had a return on equity of 10.45% and a net margin of 13.46%.The company had revenue of $3.92 billion for the quarter, compared to the consensus estimate of $3.89 billion. During the same period in the prior year, the company earned $1.25 earnings per share. The firm’s revenue was up 7.4% compared to the same quarter last year. On average, equities analysts forecast that Xcel Energy Inc. will post 3.82 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on XEL shares. TD Cowen started coverage on shares of Xcel Energy in a report on Thursday, October 16th. They issued a “buy” rating and a $93.00 price objective for the company. Citigroup raised their price target on shares of Xcel Energy from $80.00 to $92.00 and gave the company a “buy” rating in a research note on Monday, November 3rd. BMO Capital Markets lifted their price target on shares of Xcel Energy from $84.00 to $87.00 and gave the stock an “outperform” rating in a report on Wednesday, October 15th. BTIG Research upgraded Xcel Energy to a “strong-buy” rating in a report on Wednesday, October 22nd. Finally, Argus raised Xcel Energy to a “strong-buy” rating in a research report on Wednesday, December 3rd. Three research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $87.14.

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.