The Xcel Energy Inc. (NASDAQ:XEL) shares were sold by multiple groups including Steward Partners Investment Advisory LLC and Bruce & Co. Inc. Moreover, the company's stock underperformed on several days, compared to its competitors. There was a significant pullback and losses were reported on various trading days. However, numerous entities increased their stake in the company, including Parallel Advisors LLC and Allianz Asset Management GmbH.
XEL's role in the largest-ever Texas wildfire was speculated, presenting potential liabilities. The company also highlighted its commitment to renewable energy expansion, revealing a 10,000 MW wind power initiative, aiming to reduce emissions. In addition, XEL maintained it's Equal-Weight recommendation from Morgan Stanley, despite reports of a strained balance sheet. The price target for XEL shares was increased to $65.00.
Significant institutional ownership, at around 78-79%, was noted. Looking forward, the company's 2024 Q1 earnings surpassed analyst EPS estimates while the company prepares for its first quarter 2024 earnings conference call. Lastly, XEL evidently stands by clean power generation with collaborative efforts on EV charging ports with Ford and a bidirectional charging pilot with Fermata Energy.
Xcel Energy XEL News Analytics from Wed, 20 Sep 2023 07:00:00 GMT to Sun, 02 Jun 2024 15:28:15 GMT - Rating 1 - Innovation 2 - Information 7 - Rumor -4
