KeyCorp Raises Xcel Energy (NASDAQ:XEL) Price Target to $79.00

Xcel Energy (NASDAQ:XEL) had its target price hoisted by equities researchers at KeyCorp from $74.00 to $79.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. KeyCorp’s target price points to a potential upside of 11.77% from the company’s current price.

XEL has been the subject of a number of other reports. Jefferies Financial Group raised Xcel Energy from a “hold” rating to a “buy” rating and increased their price target for the company from $71.00 to $76.00 in a research report on Friday, November 1st. Argus upgraded shares of Xcel Energy from a “hold” rating to a “buy” rating and set a $68.00 target price for the company in a report on Monday, August 26th. UBS Group raised their price target on shares of Xcel Energy from $66.00 to $67.00 and gave the company a “neutral” rating in a research report on Friday, September 20th. Barclays upped their price objective on shares of Xcel Energy from $67.00 to $71.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 26th. Finally, Wells Fargo & Company lifted their target price on shares of Xcel Energy from $63.00 to $66.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 16th. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $67.00.

Xcel Energy Stock Down 0.5 %

XEL traded down $0.32 during trading on Wednesday, hitting $70.68. 198,407 shares of the company’s stock were exchanged, compared to its average volume of 4,120,326. The stock has a market cap of $40.59 billion, a P/E ratio of 20.97, a PEG ratio of 2.91 and a beta of 0.41. The business’s 50 day moving average is $66.51 and its two-hundred day moving average is $60.62. Xcel Energy has a fifty-two week low of $46.79 and a fifty-two week high of $73.38. The company has a quick ratio of 0.82, a current ratio of 0.93 and a debt-to-equity ratio of 1.42.

Xcel Energy (NASDAQ:XEL) last announced its quarterly earnings results on Thursday, October 31st. The company reported $1.25 earnings per share for the quarter, missing the consensus estimate of $1.26 by ($0.01). The business had revenue of $3.64 billion during the quarter, compared to the consensus estimate of $3.93 billion. Xcel Energy had a net margin of 13.67% and a return on equity of 10.76%. Xcel Energy’s revenue was down .5% compared to the same quarter last year. During the same period in the previous year, the business posted $1.23 EPS. As a group, equities analysts expect that Xcel Energy will post 3.54 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Xcel Energy

Institutional investors have recently added to or reduced their stakes in the business. State Street Corp boosted its holdings in shares of Xcel Energy by 6.7% in the third quarter. State Street Corp now owns 37,143,025 shares of the company’s stock worth $2,445,477,000 after acquiring an additional 2,323,448 shares during the period. Brookfield Corp ON boosted its stake in Xcel Energy by 520.1% in the 3rd quarter. Brookfield Corp ON now owns 2,509,031 shares of the company’s stock worth $163,840,000 after purchasing an additional 2,104,405 shares during the period. Federated Hermes Inc. grew its holdings in Xcel Energy by 120.2% during the 2nd quarter. Federated Hermes Inc. now owns 2,379,615 shares of the company’s stock valued at $127,095,000 after buying an additional 1,299,025 shares in the last quarter. American Century Companies Inc. increased its position in shares of Xcel Energy by 130.4% during the second quarter. American Century Companies Inc. now owns 2,084,345 shares of the company’s stock valued at $111,325,000 after buying an additional 1,179,823 shares during the period. Finally, Merewether Investment Management LP purchased a new stake in shares of Xcel Energy in the third quarter worth about $64,301,000. 78.38% of the stock is owned by hedge funds and other institutional investors.

Xcel Energy Company Profile

Xcel Energy Inc, through its subsidiaries, engages in the generation, purchasing, transmission, distribution, and sale of electricity. It operates through Regulated Electric Utility, Regulated Natural Gas Utility, and All Other segments. The company generates electricity through wind, nuclear, hydroelectric, biomass, and solar energy sources, as well as coal, natural gas, oil, wood, and refuse-derived fuels.