M&T Bank Corp Has $5.21 Million Stake in Xcel Energy Inc. $XEL

M&T Bank Corp reduced its stake in shares of Xcel Energy Inc. (NASDAQ:XEL) by 20.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 76,490 shares of the company’s stock after selling 19,139 shares during the quarter. M&T Bank Corp’s holdings in Xcel Energy were worth $5,209,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of XEL. Brighton Jones LLC acquired a new position in Xcel Energy during the fourth quarter valued at approximately $240,000. Commonwealth Equity Services LLC boosted its position in shares of Xcel Energy by 5.0% during the first quarter. Commonwealth Equity Services LLC now owns 258,802 shares of the company’s stock worth $18,321,000 after purchasing an additional 12,304 shares in the last quarter. Cary Street Partners Investment Advisory LLC grew its holdings in shares of Xcel Energy by 36.9% in the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 861 shares of the company’s stock valued at $61,000 after buying an additional 232 shares during the period. Intrust Bank NA increased its position in shares of Xcel Energy by 2.3% in the 1st quarter. Intrust Bank NA now owns 10,544 shares of the company’s stock valued at $746,000 after buying an additional 238 shares in the last quarter. Finally, Legacy Capital Group California Inc. bought a new stake in shares of Xcel Energy in the 1st quarter valued at $446,000. 78.38% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

XEL has been the subject of a number of research analyst reports. Barclays boosted their target price on Xcel Energy from $83.00 to $85.00 and gave the company an “overweight” rating in a research note on Wednesday, November 5th. Morgan Stanley reissued an “underperform” rating and set a $84.00 target price on shares of Xcel Energy in a research note on Thursday, November 20th. BMO Capital Markets raised their target price 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. TD Cowen began coverage on shares of Xcel Energy in a report on Thursday, October 16th. They issued a “buy” rating and a $93.00 price target for the company. Finally, Jefferies Financial Group raised their price objective on shares of Xcel Energy from $84.00 to $92.00 and gave the stock a “buy” rating in a report on Thursday, October 16th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $87.14.

Xcel Energy Trading Down 0.8%

Xcel Energy stock opened at $77.77 on Friday. The company has a market cap of $46.00 billion, a price-to-earnings ratio of 23.71, a P/E/G ratio of 2.32 and a beta of 0.45. The firm has a 50-day moving average of $80.57 and a 200-day moving average of $74.21. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.79 and a quick ratio of 0.69. Xcel Energy Inc. has a one year low of $62.58 and a one year high of $83.01.

Xcel Energy (NASDAQ:XEL) last released 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). The company had revenue of $3.92 billion for the quarter, compared to the consensus estimate of $3.89 billion. Xcel Energy had a return on equity of 10.45% and a net margin of 13.46%.The business’s revenue was up 7.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.25 EPS. On average, equities analysts expect that Xcel Energy Inc. will post 3.82 earnings per share for the current fiscal year.

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.