Jennison Associates LLC Sells 21,710 Shares of Xcel Energy Inc. $XEL

Jennison Associates LLC trimmed its position in Xcel Energy Inc. (NASDAQ:XEL) by 1.3% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 1,587,218 shares of the company’s stock after selling 21,710 shares during the period. Jennison Associates LLC owned about 0.28% of Xcel Energy worth $108,090,000 as of its most recent filing with the SEC.

A number of other large investors also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in shares of Xcel Energy by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 74,818,158 shares of the company’s stock valued at $5,296,377,000 after purchasing an additional 986,170 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of Xcel Energy by 31.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 25,809,978 shares of the company’s stock valued at $1,827,090,000 after purchasing an additional 6,109,190 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Xcel Energy by 7.9% in the 1st quarter. JPMorgan Chase & Co. now owns 20,811,241 shares of the company’s stock valued at $1,473,228,000 after purchasing an additional 1,520,092 shares during the period. Northern Trust Corp lifted its stake in shares of Xcel Energy by 5.8% in the 1st quarter. Northern Trust Corp now owns 5,967,952 shares of the company’s stock valued at $422,471,000 after purchasing an additional 328,845 shares during the period. Finally, Invesco Ltd. lifted its stake in shares of Xcel Energy by 0.6% in the 1st quarter. Invesco Ltd. now owns 5,711,917 shares of the company’s stock valued at $404,347,000 after purchasing an additional 33,469 shares during the period. Institutional investors and hedge funds own 78.38% of the company’s stock.

Wall Street Analysts Forecast Growth

XEL has been the topic of a number of analyst reports. KeyCorp increased their price target on Xcel Energy from $79.00 to $85.00 and gave the company an “overweight” rating in a research note on Wednesday, October 15th. Royal Bank Of Canada initiated coverage on Xcel Energy in a research note on Tuesday. They issued a “moderate buy” rating on the stock. Bank of America increased their price target on Xcel Energy from $78.00 to $84.00 and gave the company a “buy” rating in a research note on Thursday, September 25th. BMO Capital Markets lifted their target price on Xcel Energy from $84.00 to $87.00 and gave the stock an “outperform” rating in a report on Wednesday, October 15th. Finally, Evercore ISI started coverage on Xcel Energy in a research note on Monday, October 6th. They issued an “outperform” rating and a $92.00 target price for the company. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, Xcel Energy presently has an average rating of “Buy” and a consensus target price of $86.54.

Xcel Energy Stock Down 0.2%

Shares of Xcel Energy stock opened at $79.69 on Thursday. Xcel Energy Inc. has a 1 year low of $62.58 and a 1 year high of $83.01. The business has a 50-day moving average of $76.65 and a two-hundred day moving average of $72.38. The company has a market capitalization of $47.13 billion, a P/E ratio of 22.07, a price-to-earnings-growth ratio of 2.81 and a beta of 0.37. The company has a debt-to-equity ratio of 1.48, a current ratio of 0.96 and a quick ratio of 0.85.

Xcel Energy (NASDAQ:XEL) last announced its quarterly earnings results on Thursday, July 31st. The company reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.09. Xcel Energy had a return on equity of 10.52% and a net margin of 14.85%.The company had revenue of $3.29 billion during the quarter, compared to the consensus estimate of $3.31 billion. During the same period in the prior year, the company earned $0.54 earnings per share. The company’s revenue for the quarter was up 8.6% compared to the same quarter last year. As a group, equities analysts predict that Xcel Energy Inc. will post 3.82 EPS for the current 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.