Xcel Energy (XEL)

• Market cap: $35.3B
• Sector: Utilities
• Industry: Electric & Other Services Combined

About: Xcel Energy manages utilities serving 3.8 million electric customers and 2.2 million natural gas customers in eight states. Its utilities are Northern States Power, which serves customers in Minnesota, North Dakota, South Dakota, Wisconsin, and Michigan; Public Service Company of Colorado; and Southwestern Public Service Company, which serves customers in Texas and New Mexico. It is one of the largest renewable energy suppliers in the US with more than half of its electricity sales coming from carbon-free energy.

Employees: 11,311

Fund manager confidence

Based on 2024 Q2 SEC filings by fund managers ($100M+ AUM)

59% more call options, than puts

Call options by funds: $102M | Put options by funds: $64.1M

18% more repeat investments, than reductions

Existing positions increased: 388 | Existing positions reduced: 328

1% less funds holding

Funds holding: 966 [Q1] → 958 (-8) [Q2]

2% less capital invested

Capital invested by funds: $23.8B [Q1] → $23.3B (-$554M) [Q2]

9% less first-time investments, than exits

New positions opened: 84 | Existing positions closed: 92

1.37% less ownership

Funds ownership: 79.74% [Q1] → 78.38% (-1.37%) [Q2]

40% less funds holding in top 10

Funds holding in top 10: 5 [Q1] → 3 (-2) [Q2]

Research analyst outlook

9 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $63 0% upside
• Avg. target: $68 7% upside
• High target: $73 15% upside

9 analyst ratings

• positive: 3 33%
• neutral: 6 67%
• negative: 0 0%

Wells Fargo Neil Kalton 80% 1-year accuracy 20 / 25 met price target	4% upside $66	Equal-Weight Maintained	16 Oct 2024
Keybanc Sophie Karp 75% 1-year accuracy 24 / 32 met price target	9% upside $69	Overweight Maintained	30 Sept 2024
Morgan Stanley Stephen Byrd 62% 1-year accuracy 31 / 50 met price target	15% upside $73	Equal-Weight Maintained	25 Sept 2024
UBS Ross Fowler 80% 1-year accuracy 12 / 15 met price target	6% upside $67	Neutral Maintained	20 Sept 2024
Jefferies Paul Zimbardo 100% 1-year accuracy 4 / 4 met price target	11% upside $70	Hold Initiated	19 Sept 2024