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

Xcel Energy Inc. (NASDAQ:XEL) has been given an average rating of “Buy” by the seventeen ratings firms that are covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $92.7647.

XEL has been the subject of several research reports. Weiss Ratings restated a “buy (b-)” rating on shares of Xcel Energy in a research note on Wednesday, June 17th. Jefferies Financial Group set a $101.00 price target on Xcel Energy in a research note on Tuesday, July 7th. KeyCorp reiterated an “overweight” rating on shares of Xcel Energy in a report on Monday, June 8th. Mizuho set a $92.00 price objective on Xcel Energy in a research note on Friday, July 31st. Finally, Truist Financial boosted their price objective on Xcel Energy from $92.00 to $94.00 and gave the company a “buy” rating in a report on Thursday, July 16th.

Xcel Energy Stock Up 1.2%

Shares of NASDAQ XEL opened at $78.60 on Monday. The firm has a market cap of $49.10 billion, a PE ratio of 21.53, a P/E/G ratio of 2.02 and a beta of 0.39. Xcel Energy has a 12-month low of $69.16 and a 12-month high of $84.23. The company’s fifty day simple moving average is $79.29 and its 200 day simple moving average is $79.58. The company has a quick ratio of 0.62, a current ratio of 0.70 and a debt-to-equity ratio of 1.49.

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

Xcel Energy Dividend Announcement

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

Institutional Trading of Xcel Energy

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Evolution Wealth Management Inc. grew its holdings in shares of Xcel Energy by 365.3% during the first quarter. Evolution Wealth Management Inc. now owns 349 shares of the company’s stock valued at $28,000 after buying an additional 274 shares during the last quarter. Garton & Associates Financial Advisors LLC bought a new stake in shares of Xcel Energy during the fourth quarter worth about $30,000. Pittenger & Anderson Inc. raised its holdings in shares of Xcel Energy by 73.8% in the 4th quarter. Pittenger & Anderson Inc. now owns 471 shares of the company’s stock worth $35,000 after acquiring an additional 200 shares during the last quarter. Advocate Investing Services LLC acquired a new stake in shares of Xcel Energy in the 4th quarter worth about $38,000. Finally, Cedar Mountain Advisors LLC bought a new position in Xcel Energy in the 1st quarter valued at about $39,000. Institutional investors own 78.38% of the company’s stock.

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.