Xcel Energy Inc. (NASDAQ:XEL) Receives $92.76 Average Target Price from Brokerages

Xcel Energy Inc. (NASDAQ:XEL) has received a consensus rating of “Buy” from the seventeen ratings firms that are covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating, fourteen have issued a buy rating and two have given a strong buy rating to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $92.4118.

A number of analysts recently commented on the stock. Truist Financial dropped their price target on shares of Xcel Energy from $94.00 to $88.00 and set a “buy” rating on the stock in a research note on Thursday. New Street Research set a $91.00 price objective on shares of Xcel Energy in a research note on Tuesday, June 23rd. BMO Capital Markets lowered their target price on shares of Xcel Energy from $95.00 to $92.00 and set an “outperform” rating on the stock in a report on Wednesday, July 22nd. Jefferies Financial Group set a $101.00 target price on Xcel Energy in a research report on Tuesday, July 7th. Finally, JPMorgan Chase & Co. raised their price target on Xcel Energy from $91.00 to $102.00 and gave the stock an “overweight” rating in a report on Thursday, July 16th.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in XEL. Freestone Grove Partners LP bought a new stake in shares of Xcel Energy during the second quarter valued at about $64,102,000. Gallagher Fiduciary Advisors LLC bought a new position in shares of Xcel Energy in the second quarter valued at approximately $1,442,000. Man Group plc bought a new position in shares of Xcel Energy in the second quarter valued at approximately $3,107,000. First Bancorp Inc ME purchased a new position in Xcel Energy during the second quarter valued at approximately $36,000. Finally, Jupiter Topco LLC bought a new stake in Xcel Energy during the 2nd quarter worth approximately $94,211,000. Hedge funds and other institutional investors own 78.38% of the company’s stock.

Xcel Energy Stock Performance

Shares of XEL opened at $79.17 on Monday. The business has a 50-day moving average of $79.32 and a 200 day moving average of $79.64. Xcel Energy has a fifty-two week low of $69.16 and a fifty-two week high of $84.23. The firm has a market cap of $49.45 billion, a P/E ratio of 21.69, a price-to-earnings-growth ratio of 2.06 and a beta of 0.39. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.62 and a current ratio of 0.70.

Xcel Energy (NASDAQ:XEL) last released its quarterly earnings data on Thursday, July 30th. The company reported $0.93 EPS for the quarter, beating the consensus estimate of $0.79 by $0.14. The business had revenue of $3.12 billion for the quarter, compared to the consensus estimate of $3.54 billion. Xcel Energy had a net margin of 15.28% and a return on equity of 10.65%. The company’s revenue was down 5.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.59 earnings per share. As a group, research analysts forecast that Xcel Energy will post 4.11 EPS for the current year.

Xcel Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 20th. Investors of record on Tuesday, September 15th will be issued a dividend of $0.5925 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $2.37 dividend on an annualized basis and a yield of 3.0%. Xcel Energy’s dividend payout ratio is 64.93%.

Xcel Energy Company Profile

Xcel Energy (NASDAQ: XEL) is a Minneapolis-based, publicly traded utility holding company that develops, owns and operates regulated electricity and natural gas delivery systems. The company’s core activities include generation, transmission and distribution of electricity, the delivery of natural gas to customers, and related customer service operations. Xcel provides a mix of utility services to residential, commercial and industrial customers and participates in wholesale energy markets where appropriate.

Its generation portfolio combines nuclear, natural gas, coal and a growing share of renewable resources such as wind and solar.