Morgan Stanley Raises Xcel Energy Inc. (XEL) Price Target to $48.00
Xcel Energy Inc. (NYSE:XEL) had its price objective upped by Morgan Stanley from $46.00 to $48.00 in a research report released on Friday. Morgan Stanley currently has an equal weight rating on the utilities provider’s stock.
A number of other analysts also recently weighed in on XEL. Jefferies Group LLC reissued a hold rating and set a $48.00 target price on shares of Xcel Energy in a research report on Friday, June 9th. Argus increased their target price on shares of Xcel Energy from $50.00 to $53.00 and gave the company a buy rating in a research report on Wednesday, June 14th. Zacks Investment Research raised shares of Xcel Energy from a hold rating to a buy rating and set a $52.00 target price for the company in a research report on Wednesday, June 14th. BidaskClub downgraded shares of Xcel Energy from a strong-buy rating to a buy rating in a research report on Saturday, June 24th. Finally, BMO Capital Markets increased their target price on shares of Xcel Energy from $46.00 to $47.00 and gave the company a market perform rating in a research report on Friday, July 28th. Ten analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of Hold and a consensus price target of $46.82.
Xcel Energy (XEL) opened at 50.23 on Friday. Xcel Energy has a 1-year low of $38.00 and a 1-year high of $50.30. The company’s 50-day moving average is $48.58 and its 200 day moving average is $46.19. The company has a market cap of $25.50 billion, a price-to-earnings ratio of 22.18 and a beta of 0.20.
Xcel Energy (NYSE:XEL) last released its earnings results on Thursday, July 27th. The utilities provider reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.02. The business had revenue of $2.64 billion during the quarter, compared to the consensus estimate of $2.63 billion. Xcel Energy had a net margin of 10.08% and a return on equity of 10.42%. The company’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.39 EPS. On average, equities analysts predict that Xcel Energy will post $2.20 EPS for the current fiscal year.
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The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 20th. Stockholders of record on Friday, September 15th will be given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 2.87%. The ex-dividend date is Thursday, September 14th. Xcel Energy’s dividend payout ratio (DPR) is 63.44%.
In related news, EVP Kent T. Larson sold 10,000 shares of the stock in a transaction on Friday, July 28th. The stock was sold at an average price of $47.25, for a total value of $472,500.00. Following the transaction, the executive vice president now directly owns 80,221 shares in the company, valued at approximately $3,790,442.25. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Daniel Yohannes bought 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 5th. The stock was purchased at an average price of $49.53 per share, for a total transaction of $49,530.00. Following the completion of the acquisition, the director now owns 1,000 shares in the company, valued at $49,530. The disclosure for this purchase can be found here. Company insiders own 0.22% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the stock. Parallel Advisors LLC lifted its holdings in shares of Xcel Energy by 1.6% in the 2nd quarter. Parallel Advisors LLC now owns 2,227 shares of the utilities provider’s stock worth $105,000 after purchasing an additional 36 shares in the last quarter. Carroll Financial Associates Inc. lifted its holdings in shares of Xcel Energy by 14.5% in the 2nd quarter. Carroll Financial Associates Inc. now owns 2,365 shares of the utilities provider’s stock worth $108,000 after purchasing an additional 300 shares in the last quarter. Sandy Spring Bank lifted its holdings in shares of Xcel Energy by 24.8% in the 2nd quarter. Sandy Spring Bank now owns 2,401 shares of the utilities provider’s stock worth $110,000 after purchasing an additional 477 shares in the last quarter. Founders Capital Management bought a new position in shares of Xcel Energy in the 1st quarter worth $124,000. Finally, Dupont Capital Management Corp bought a new position in shares of Xcel Energy in the 2nd quarter worth $135,000. Institutional investors own 73.04% of the company’s stock.
Xcel Energy Company Profile
Xcel Energy Inc is a public utility holding company. The Company’s operations include the activity of four utility subsidiaries that serve electric and natural gas customers in eight states. The Company’s segments include regulated electric utility, regulated natural gas utility and all other. The Company’s utility subsidiaries include NSP-Minnesota, NSP-Wisconsin, Public Service Company of Colorado (PSCo) and Southwestern Public Service Co (SPS), which serve customers in portions of Colorado, Michigan, Minnesota, New Mexico, North Dakota, South Dakota, Texas and Wisconsin.
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