Matthew Davis’ Coann Capital Portfolio: Top 5 Stock Picks

2. Xcel Energy Inc. (NASDAQ:XEL)

Coann Capital’s Stake Value: $9,319,000

Percentage of Coann Capital’s 13F Portfolio: 8.98%

Number of Hedge Fund Holders: 22

Xcel Energy Inc. (NASDAQ:XEL) is a utility holding company from Minnesota, offering electric, steam, and natural gas services to millions of customers across Minnesota, Dakota, Michigan, Wisconsin, and Texas, among others. Xcel Energy Inc. (NASDAQ:XEL) is aiming to reduce its carbon emissions and has set a goal to provide clean energy by 2050. Coann Capital owns 149,106 shares in Xcel Energy Inc. (NASDAQ:XEL), as of September this year, which accounts for 8.98% of the firm’s investment portfolio. 

Xcel Energy Inc. (NASDAQ:XEL) announced Q3 results on October 28. EPS in the period totaled $1.13, missing estimates by -$0.04. Revenue for the quarter equaled $3.47 billion, beating estimated revenue by $55.82 million. 

As of the second quarter, 22 hedge funds were long Xcel Energy Inc. (NASDAQ:XEL), up from 18 in the preceding quarter. 

According to a report published by Mizuho on November 2, Paul Fremont kept a Neutral rating on Xcel Energy Inc. (NASDAQ:XEL) stock, lowering the price target from $70 to $64. The price target was reduced to cater to the present market multiples.