Icon Advisers Inc. Co. increased its stake in shares of Xcel Energy Inc (NYSE:XEL) by 21.3% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 36,500 shares of the utilities provider’s stock after purchasing an additional 6,400 shares during the quarter. Icon Advisers Inc. Co.’s holdings in Xcel Energy were worth $2,171,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Manchester Financial Inc. bought a new position in shares of Xcel Energy during the 2nd quarter valued at approximately $26,000. Country Trust Bank grew its position in Xcel Energy by 100.0% in the 2nd quarter. Country Trust Bank now owns 700 shares of the utilities provider’s stock valued at $41,000 after acquiring an additional 350 shares during the last quarter. AGF Investments LLC bought a new position in Xcel Energy in the 2nd quarter valued at $44,000. Next Capital Management LLC bought a new position in Xcel Energy in the 1st quarter valued at $64,000. Finally, Personal Wealth Partners bought a new position in Xcel Energy in the 2nd quarter valued at $71,000. 73.96% of the stock is currently owned by hedge funds and other institutional investors.
Xcel Energy stock traded up $0.27 during mid-day trading on Friday, hitting $61.80. The company’s stock had a trading volume of 2,257,500 shares, compared to its average volume of 3,223,927. The company has a 50 day moving average of $60.69 and a 200-day moving average of $57.50. Xcel Energy Inc has a one year low of $46.01 and a one year high of $62.17.
Several brokerages have commented on XEL. Morgan Stanley cut their price objective on Xcel Energy from $61.00 to $60.00 and set an “equal weight” rating on the stock in a research report on Friday. Barclays downgraded Xcel Energy from an “overweight” rating to an “equal weight” rating and set a $64.00 price objective on the stock. in a research report on Tuesday. They noted that the move was a valuation call. Wolfe Research set a $57.00 price objective on Xcel Energy and gave the company a “hold” rating in a research report on Friday, April 26th. KeyCorp began coverage on Xcel Energy in a research report on Tuesday, June 4th. They issued an “overweight” rating and a $62.00 price objective on the stock. Finally, Zacks Investment Research downgraded Xcel Energy from a “hold” rating to a “sell” rating and set a $64.00 price objective on the stock. in a research report on Saturday, July 27th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $59.71.
In other Xcel Energy news, EVP Kent T. Larson sold 5,000 shares of the company’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $58.43, for a total value of $292,150.00. Following the completion of the sale, the executive vice president now directly owns 100,354 shares in the company, valued at approximately $5,863,684.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Robert Frenzel sold 4,400 shares of the company’s stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $58.60, for a total value of $257,840.00. The disclosure for this sale can be found here. Insiders sold a total of 69,400 shares of company stock valued at $4,112,790 over the last quarter. Company insiders own 0.22% of the company’s stock.
About Xcel Energy
Xcel Energy Inc is a public utility holding company. The Company’s operations include the activity of four utility subsidiaries that serve electric and natural gas customers in eight states. The Company’s segments include regulated electric utility, regulated natural gas utility and all other. The Company’s utility subsidiaries include NSP-Minnesota, NSP-Wisconsin, Public Service Company of Colorado (PSCo) and Southwestern Public Service Co (SPS), which serve customers in portions of Colorado, Michigan, Minnesota, New Mexico, North Dakota, South Dakota, Texas and Wisconsin.
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