JPMorgan Chase & Co. Has Lowered Expectations for Xcel Energy (NASDAQ:XEL) Stock Price

Xcel Energy (NASDAQ:XEL) had its price target reduced by analysts at JPMorgan Chase & Co. from $94.00 to $91.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 16.79% from the company’s previous close.

XEL has been the topic of several other reports. Royal Bank Of Canada reiterated an “outperform” rating and set a $95.00 target price on shares of Xcel Energy in a report on Friday, January 23rd. Wall Street Zen downgraded shares of Xcel Energy from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Weiss Ratings raised shares of Xcel Energy from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, March 20th. Truist Financial initiated coverage on shares of Xcel Energy in a research note on Monday, April 20th. They set a “buy” rating and a $95.00 price target on the stock. Finally, Argus set a $86.00 price objective on Xcel Energy in a report on Thursday, March 12th. Four research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $91.13.

Xcel Energy Stock Performance

Xcel Energy stock opened at $77.92 on Thursday. The stock’s 50-day moving average is $80.12 and its 200-day moving average is $78.67. The company has a market cap of $48.64 billion, a price-to-earnings ratio of 22.46, a price-to-earnings-growth ratio of 2.08 and a beta of 0.41. The company has a debt-to-equity ratio of 1.45, a current ratio of 0.77 and a quick ratio of 0.68. Xcel Energy has a 12 month low of $65.21 and a 12 month high of $84.23.

Xcel Energy (NASDAQ:XEL) last released its quarterly earnings data on Wednesday, April 29th. The company reported $0.91 EPS for the quarter, hitting analysts’ consensus estimates of $0.91. The company had revenue of $4.02 billion for the quarter, compared to the consensus estimate of $4.21 billion. Xcel Energy had a return on equity of 10.37% and a net margin of 14.14%.The company’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same period last year, the business posted $0.84 EPS. Equities analysts anticipate that Xcel Energy will post 4.11 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Vermillion & White Wealth Management Group LLC acquired a new position in Xcel Energy in the 3rd quarter worth approximately $27,000. Abound Wealth Management boosted its position in Xcel Energy by 394.5% during the 4th quarter. Abound Wealth Management now owns 361 shares of the company’s stock worth $27,000 after acquiring an additional 288 shares during the period. Evolution Wealth Management Inc. boosted its position in Xcel Energy by 365.3% during the 1st quarter. Evolution Wealth Management Inc. now owns 349 shares of the company’s stock worth $28,000 after acquiring an additional 274 shares during the period. Garton & Associates Financial Advisors LLC acquired a new stake in Xcel Energy during the 4th quarter worth about $30,000. Finally, First Command Advisory Services Inc. acquired a new stake in Xcel Energy during the 3rd quarter worth about $32,000. 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.