Jefferies Boosts Xcel Energy to ‘Buy’ Amid Fund Shifts
Institutional Investment in Xcel Energy Sees Mixed Changes
On November 1, 2024, Jefferies elevated its rating for Xcel Energy (WBAG:XCEL) from Hold to Buy.
What Does the Fund Sentiment Look Like?
A total of 1,849 funds or institutions have reported holdings in Xcel Energy, marking an increase of 14 investors or 0.76% from the previous quarter. The average portfolio weight of all funds in XCEL is now 0.26%, reflecting a rise of 4.35%. However, total shares owned by institutions fell by 1.18% over the last three months, amounting to 508,454K shares.
Recent Moves by Other Shareholders
JPMorgan Chase currently holds 19,615K shares, which represents 3.52% ownership of Xcel Energy. This is an increase from 19,422K shares reported in the prior filing, showing a growth of 0.99%. Yet, its portfolio allocation for XCEL has decreased by 2.54% in the last quarter.
Another significant holder, VTSMX – Vanguard Total Stock Market Index Fund Investor Shares, owns 17,558K shares, translating to 3.15% ownership. The previous reporting indicated 17,488K shares, which constitutes a 0.40% rise, though its allocation for XCEL has dropped by 2.98% recently.
Geode Capital Management’s stake now stands at 14,300K shares or 2.57% of the company. They previously reported 13,847K shares, marking a notable increase of 3.16%, but made a considerable reduction in their allocation for XCEL by 49.11% last quarter.
Massachusetts Financial Services owns 14,298K shares, reflecting 2.56% ownership. Their previous allocation was 17,206K shares, representing a significant decrease of 20.34%. This firm has significantly lowered its holdings in XCEL, with a staggering 86.96% decrease in its portfolio allocation.
Lastly, VFINX – Vanguard 500 Index Fund Investor Shares holds 14,261K shares or 2.56% of Xcel Energy. This is an increase from the 13,907K shares they reported earlier, equating to a growth of 2.49%. Still, their allocation for XCEL has decreased by 3.54% in the last quarter.
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