Sat Sep 28 18:10:22 UTC 2024: ## Xcel Energy Sees Mixed Signals from Institutional Investors
**Denver, Colorado – September 28, 2024** – Xcel Energy Inc. (NASDAQ:XEL) has experienced a mixed bag of activity from institutional investors in recent quarters. While some funds have increased their stakes, others have significantly reduced their holdings.
APG Asset Management N.V., a major institutional investor, reduced its position in Xcel Energy by 60% in the second quarter, selling off 807,500 shares. This move, however, was countered by significant increases from other investors like Price T Rowe Associates Inc. MD, which increased its stake by a staggering 770% in the first quarter.
Other notable increases include Mitsubishi UFJ Trust & Banking Corp, Federated Hermes Inc., and American Century Companies Inc., all adding to their Xcel Energy holdings in the first and second quarters. However, despite these increases, institutional ownership of Xcel Energy remains at 78.38%.
Analysts have also weighed in on the company’s performance, with some expressing optimism and others remaining cautious. KeyCorp raised its price target to $66.00, while Morgan Stanley lifted their target to $73.00. Meanwhile, Wells Fargo & Company and UBS Group both increased their price targets, but maintained “equal weight” and “neutral” ratings, respectively.
Xcel Energy recently reported its quarterly earnings, missing analyst expectations but exceeding the previous year’s performance. The company also announced an increase in its quarterly dividend, further indicating a commitment to shareholder returns.
Overall, the recent activity surrounding Xcel Energy paints a mixed picture. While some institutional investors are bullish, others remain cautious. The company’s performance in the coming months will likely be a determining factor in shaping investor sentiment and the stock’s trajectory.
First Piper 