Barclays Lowers Xcel Energy (NYSE:XEL) to Equal Weight

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Barclays lowered shares of Xcel Energy (NYSE:XEL) from an overweight rating to an equal weight rating in a report published on Tuesday morning, BenzingaRatingsTable reports. Barclays currently has $64.00 target price on the utilities provider’s stock. The analysts noted that the move was a valuation call.

XEL has been the subject of several other reports. KeyCorp assumed coverage on Xcel Energy in a report on Tuesday, June 4th. They set an overweight rating and a $62.00 price target for the company. Argus increased their price target on Xcel Energy to $64.00 and gave the stock a buy rating in a report on Thursday, May 23rd. Zacks Investment Research downgraded Xcel Energy from a hold rating to a sell rating and set a $64.00 price target for the company. in a report on Saturday, July 27th. Wolfe Research set a $57.00 price target on Xcel Energy and gave the stock a hold rating in a report on Friday, April 26th. Finally, Morgan Stanley increased their price target on Xcel Energy from $57.00 to $60.00 and gave the stock an equal weight rating in a report on Friday, June 14th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company. The company presently has a consensus rating of Hold and a consensus price target of $59.71.

Shares of NYSE XEL opened at $61.53 on Tuesday. The stock has a fifty day moving average price of $60.64 and a 200 day moving average price of $57.48. Xcel Energy has a 1-year low of $46.01 and a 1-year high of $62.03.

Xcel Energy (NYSE:XEL) last issued its quarterly earnings results on Thursday, August 1st. The utilities provider reported $0.46 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.53 by ($0.07). The company had revenue of $2.58 billion during the quarter, compared to analysts’ expectations of $2.84 billion. During the same period in the previous year, the company posted $0.52 earnings per share. Xcel Energy’s revenue for the quarter was down 3.0% on a year-over-year basis.

In other Xcel Energy news, EVP Kent T. Larson sold 5,000 shares of the 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 transaction, the executive vice president now owns 100,354 shares in the company, valued at $5,863,684.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP David L. Eves sold 10,000 shares of the stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $57.23, for a total value of $572,300.00. Following the completion of the transaction, the executive vice president now owns 58,681 shares of the company’s stock, valued at approximately $3,358,313.63. The disclosure for this sale can be found here. Insiders sold 69,400 shares of company stock valued at $4,112,790 in the last quarter. 0.22% of the stock is currently owned by company insiders.

A number of large investors have recently added to or reduced their stakes in the business. Summit Global Investments increased its position in shares of Xcel Energy by 3.3% in the second quarter. Summit Global Investments now owns 129,868 shares of the utilities provider’s stock valued at $7,726,000 after buying an additional 4,197 shares in the last quarter. Prestige Wealth Management Group LLC purchased a new position in shares of Xcel Energy in the second quarter valued at $27,000. California Public Employees Retirement System increased its position in shares of Xcel Energy by 18.2% in the second quarter. California Public Employees Retirement System now owns 3,940,117 shares of the utilities provider’s stock valued at $234,398,000 after buying an additional 608,069 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its position in shares of Xcel Energy by 1.3% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 74,612 shares of the utilities provider’s stock valued at $4,439,000 after buying an additional 974 shares in the last quarter. Finally, Worldquant Millennium Advisors LLC increased its position in shares of Xcel Energy by 25.9% in the second quarter. Worldquant Millennium Advisors LLC now owns 34,525 shares of the utilities provider’s stock valued at $2,054,000 after buying an additional 7,094 shares in the last quarter. Hedge funds and other institutional investors own 73.96% of the company’s stock.

Xcel Energy Company Profile

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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