Dai ichi Life Insurance Company Ltd Cuts Stake in Xcel Energy Inc. (NASDAQ:XEL)

by · The Markets Daily

Dai ichi Life Insurance Company Ltd lessened its holdings in shares of Xcel Energy Inc. (NASDAQ:XEL – Free Report) by 83.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 24,910 shares of the company’s stock after selling 130,000 shares during the period. Dai ichi Life Insurance Company Ltd’s holdings in Xcel Energy were worth $1,627,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in XEL. Ashton Thomas Securities LLC purchased a new stake in Xcel Energy in the third quarter valued at about $25,000. TruNorth Capital Management LLC acquired a new stake in Xcel Energy in the 2nd quarter worth approximately $30,000. American National Bank purchased a new stake in Xcel Energy during the 2nd quarter worth approximately $32,000. Transcendent Capital Group LLC acquired a new position in Xcel Energy during the 3rd quarter valued at approximately $33,000. Finally, Kimelman & Baird LLC purchased a new position in shares of Xcel Energy in the second quarter worth $35,000. 78.38% of the stock is currently owned by hedge funds and other institutional investors.

Xcel Energy Stock Performance

NASDAQ:XEL opened at $72.92 on Thursday. 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 stock has a market capitalization of $41.87 billion, a PE ratio of 21.64, a P/E/G ratio of 2.93 and a beta of 0.38. Xcel Energy Inc. has a fifty-two week low of $46.79 and a fifty-two week high of $73.38. The company has a fifty day moving average of $65.88 and a two-hundred day moving average of $60.14.

Xcel Energy (NASDAQ:XEL – Get Free Report) last posted its quarterly earnings data on Thursday, October 31st. The company reported $1.25 EPS for the quarter, missing the consensus estimate of $1.26 by ($0.01). The firm had revenue of $3.64 billion for the quarter, compared to analysts’ expectations of $3.93 billion. Xcel Energy had a return on equity of 10.76% and a net margin of 13.67%. Xcel Energy’s quarterly revenue was down .5% on a year-over-year basis. During the same quarter last year, the firm posted $1.23 earnings per share. As a group, research analysts forecast that Xcel Energy Inc. will post 3.54 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on XEL shares. Morgan Stanley cut their target price on Xcel Energy from $74.00 to $72.00 and set an “equal weight” rating on the stock in a research report on Friday, November 22nd. Wells Fargo & Company raised their price objective on Xcel Energy from $63.00 to $66.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. Jefferies Financial Group upgraded shares of Xcel Energy from a “hold” rating to a “buy” rating and increased their price target for the stock from $71.00 to $76.00 in a report on Friday, November 1st. UBS Group lifted their price objective on shares of Xcel Energy from $66.00 to $67.00 and gave the company a “neutral” rating in a research note on Friday, September 20th. Finally, Argus upgraded shares of Xcel Energy from a “hold” rating to a “buy” rating and set a $68.00 price objective on the stock in a research note on Monday, August 26th. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $66.62.

Check Out Our Latest Analysis on Xcel Energy

About Xcel Energy

(Free Report)

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.

Further Reading

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