Time to Sell Xcel Energy Inc. (XEL) After The Completion of This Bearish Double Bottom Chart Pattern?

July 14, 2018 - By Julie Barnes

Xcel Energy Inc. (NASDAQ:XEL) Logo

Investors sentiment decreased to 0.96 in Q1 2018. Its down 0.29, from 1.25 in 2017Q4. It dived, as 47 investors sold Xcel Energy Inc. shares while 198 reduced holdings. 57 funds opened positions while 178 raised stakes. 370.41 million shares or 0.81% more from 367.42 million shares in 2017Q4 were reported.
Two Sigma Securities Limited Liability Corp reported 0% stake. Zurcher Kantonalbank (Zurich Cantonalbank) holds 0.05% of its portfolio in Xcel Energy Inc. (NASDAQ:XEL) for 118,176 shares. Webster National Bank N A reported 774 shares. State Board Of Administration Of Florida Retirement Sys accumulated 812,021 shares. Korea Inv Corporation has 224,367 shares. Moreover, Cetera Advisor Limited Liability Company has 0.07% invested in Xcel Energy Inc. (NASDAQ:XEL). South Dakota Invest Council accumulated 36,500 shares. Geode Management Limited Liability Co reported 0.09% stake. Investment Services Wi has invested 2.22% in Xcel Energy Inc. (NASDAQ:XEL). Bankshares Of America De reported 3.82M shares. Associated Banc holds 0.8% or 310,675 shares. Federated Invsts Pa invested in 46,459 shares or 0.01% of the stock. Goelzer Inv accumulated 8,800 shares. Ing Groep Nv reported 0.05% stake. Northstar Invest Advisors Limited invested 0.19% in Xcel Energy Inc. (NASDAQ:XEL).

Since April 30, 2018, it had 0 insider purchases, and 2 selling transactions for $3.90 million activity. WOLF TIMOTHY V sold $142,809 worth of stock or 3,163 shares.

The chart of Xcel Energy Inc. (XEL) shows a double bottom with $43.49 target or 6.00 % below today’s $46.27 share price. The 7 months chart pattern indicates high risk for the $23.55B company. It was reported on Jul, 14 by Finviz.com. If the $43.49 price target is reached, the company will be worth $1.41 billion less. Double bottoms are rare but powerful chart patterns.

The stock decreased 0.15% or $0.07 during the last trading session, reaching $46.27. About 2.10M shares traded. Xcel Energy Inc. (NASDAQ:XEL) has declined 4.38% since July 14, 2017 and is downtrending. It has underperformed by 16.95% the S&P500.

Analysts await Xcel Energy Inc. (NASDAQ:XEL) to report earnings on July, 26 before the open. They expect $0.47 earnings per share, up 4.44 % or $0.02 from last year’s $0.45 per share. XEL’s profit will be $239.16M for 24.61 P/E if the $0.47 EPS becomes a reality. After $0.57 actual earnings per share reported by Xcel Energy Inc. for the previous quarter, Wall Street now forecasts -17.54 % negative EPS growth.

Xcel Energy Inc., through its subsidiaries, engages primarily in the generation, purchase, transmission, distribution, and sale of electricity in the United States. The company has market cap of $23.55 billion. It operates through Regulated Electric Utility, Regulated Natural Gas Utility, and All Other divisions. It has a 20.56 P/E ratio. The firm generates electricity through coal, nuclear, natural gas, hydroelectric, solar, biomass, oil and refuse, and wind energy sources.

Xcel Energy Inc. (NASDAQ:XEL) Institutional Positions Chart

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