HITE Hedge Asset Management LLC Has $20.71 Million Holdings in Xcel Energy Inc. (NASDAQ:XEL)

HITE Hedge Asset Management LLC lifted its position in shares of Xcel Energy Inc. (NASDAQ:XEL) by 393.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 317,117 shares of the company’s stock after acquiring an additional 252,793 shares during the quarter. Xcel Energy makes up approximately 2.4% of HITE Hedge Asset Management LLC’s portfolio, making the stock its 13th biggest position. HITE Hedge Asset Management LLC owned 0.06% of Xcel Energy worth $20,708,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Cetera Investment Advisers increased its position in shares of Xcel Energy by 165.0% during the first quarter. Cetera Investment Advisers now owns 107,344 shares of the company’s stock valued at $5,770,000 after acquiring an additional 66,840 shares in the last quarter. Cetera Advisors LLC lifted its holdings in Xcel Energy by 177.4% during the first quarter. Cetera Advisors LLC now owns 30,516 shares of the company’s stock valued at $1,640,000 after purchasing an additional 19,517 shares in the last quarter. First Hawaiian Bank increased its position in Xcel Energy by 4.1% during the second quarter. First Hawaiian Bank now owns 10,756 shares of the company’s stock worth $574,000 after purchasing an additional 421 shares during the last quarter. Massmutual Trust Co. FSB ADV raised its holdings in shares of Xcel Energy by 46.4% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 1,552 shares of the company’s stock valued at $83,000 after purchasing an additional 492 shares in the last quarter. Finally, Mather Group LLC. boosted its holdings in shares of Xcel Energy by 17.5% in the second quarter. Mather Group LLC. now owns 2,378 shares of the company’s stock valued at $128,000 after acquiring an additional 355 shares in the last quarter. 78.38% of the stock is owned by institutional investors.

Xcel Energy Trading Down 1.9 %

Xcel Energy stock opened at $71.20 on Tuesday. The firm has a market capitalization of $40.89 billion, a price-to-earnings ratio of 21.13, a P/E/G ratio of 2.97 and a beta of 0.41. Xcel Energy Inc. has a 52 week low of $46.79 and a 52 week high of $73.38. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.82 and a current ratio of 0.93. The company has a 50 day moving average price of $66.23 and a 200 day moving average price of $60.41.

Xcel Energy (NASDAQ:XEL) last released its 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 net margin of 13.67% and a return on equity of 10.76%. The firm had revenue of $3.64 billion during the quarter, compared to the consensus estimate of $3.93 billion. During the same period in the prior year, the business earned $1.23 earnings per share. Xcel Energy’s quarterly revenue was down .5% compared to the same quarter last year. Research analysts forecast that Xcel Energy Inc. will post 3.54 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have weighed in on XEL. Barclays increased their target price on shares of Xcel Energy from $67.00 to $71.00 and gave the stock an “overweight” rating in a report on Tuesday, November 26th. KeyCorp boosted their price objective on Xcel Energy from $69.00 to $74.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Jefferies Financial Group upgraded Xcel Energy from a “hold” rating to a “buy” rating and upped their price target for the stock from $71.00 to $76.00 in a report on Friday, November 1st. UBS Group raised their target price on shares of Xcel Energy from $66.00 to $67.00 and gave the stock a “neutral” rating in a report on Friday, September 20th. Finally, Morgan Stanley decreased their target price on shares of Xcel Energy from $74.00 to $72.00 and set an “equal weight” rating for the company in a research note on Friday, November 22nd. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $66.62.

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.