Xcel Energy (NASDAQ:XEL) Price Target Raised to $59.00

Xcel Energy (NASDAQ:XEL) had its target price upped by Evercore ISI from $54.00 to $59.00 in a research report sent to investors on Friday morning, Benzinga reports. The firm currently has an outperform rating on the stock.

Other equities analysts have also issued research reports about the stock. TheStreet lowered shares of Xcel Energy from a b- rating to a c+ rating in a research report on Thursday, March 14th. Wolfe Research upgraded shares of Xcel Energy from a peer perform rating to an outperform rating and set a $58.00 price target for the company in a research report on Monday, March 11th. Wells Fargo & Company upped their price objective on shares of Xcel Energy from $63.00 to $64.00 and gave the company an equal weight rating in a report on Friday, January 26th. Barclays raised shares of Xcel Energy from an equal weight rating to an overweight rating and dropped their price objective for the company from $61.00 to $54.00 in a report on Monday, March 11th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Xcel Energy from $68.00 to $59.00 and set a neutral rating on the stock in a report on Wednesday, March 13th. One analyst has rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of Hold and an average target price of $62.58.

Xcel Energy Stock Performance

NASDAQ XEL opened at $54.48 on Friday. Xcel Energy has a 1 year low of $46.79 and a 1 year high of $70.60. The company has a debt-to-equity ratio of 1.48, a current ratio of 0.86 and a quick ratio of 0.74. The firm has a market cap of $30.27 billion, a price-to-earnings ratio of 16.36, a PEG ratio of 2.37 and a beta of 0.36. The company has a fifty day moving average price of $53.68 and a 200-day moving average price of $58.04.

Xcel Energy (NASDAQ:XEL) last posted its earnings results on Thursday, April 25th. The company reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.08. The firm had revenue of $3.65 billion during the quarter, compared to analyst estimates of $4.12 billion. Xcel Energy had a net margin of 13.36% and a return on equity of 11.03%. The business’s revenue was down 10.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.76 EPS. As a group, equities research analysts predict that Xcel Energy will post 3.56 EPS for the current fiscal year.

Xcel Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Saturday, April 20th. Investors of record on Friday, March 15th were given a $0.548 dividend. This represents a $2.19 annualized dividend and a dividend yield of 4.02%. This is a boost from Xcel Energy’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend was Thursday, March 14th. Xcel Energy’s dividend payout ratio is 65.77%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Lakeridge Wealth Management LLC increased its position in shares of Xcel Energy by 47.4% in the first quarter. Lakeridge Wealth Management LLC now owns 5,264 shares of the company’s stock worth $283,000 after purchasing an additional 1,692 shares during the last quarter. Commonwealth Equity Services LLC grew its position in Xcel Energy by 2.7% during the first quarter. Commonwealth Equity Services LLC now owns 185,458 shares of the company’s stock valued at $9,968,000 after acquiring an additional 4,790 shares during the last quarter. China Universal Asset Management Co. Ltd. grew its position in Xcel Energy by 127.0% during the first quarter. China Universal Asset Management Co. Ltd. now owns 2,504 shares of the company’s stock valued at $136,000 after acquiring an additional 1,401 shares during the last quarter. HighMark Wealth Management LLC grew its position in Xcel Energy by 64.5% during the first quarter. HighMark Wealth Management LLC now owns 11,370 shares of the company’s stock valued at $611,000 after acquiring an additional 4,459 shares during the last quarter. Finally, YHB Investment Advisors Inc. bought a new position in Xcel Energy during the first quarter valued at approximately $38,000. 78.38% of the stock is currently owned by 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.