Barclays Raises Xcel Energy (NASDAQ:XEL) Price Target to $71.00

Xcel Energy (NASDAQ:XEL) had its price objective upped by equities researchers at Barclays from $67.00 to $71.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s target price would suggest a potential downside of 0.84% from the stock’s previous close.

XEL has been the subject of several other research reports. UBS Group boosted their price objective on Xcel Energy from $66.00 to $67.00 and gave the stock a “neutral” rating in a report on Friday, September 20th. KeyCorp lifted their price objective on Xcel Energy from $69.00 to $74.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Jefferies Financial Group upgraded Xcel Energy from a “hold” rating to a “buy” rating and boosted their price objective for the company from $71.00 to $76.00 in a research report on Friday, November 1st. Argus upgraded shares of Xcel Energy from a “hold” rating to a “buy” rating and set a $68.00 target price for the company in a report on Monday, August 26th. Finally, Wells Fargo & Company upped their price target on Xcel Energy from $63.00 to $66.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 16th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $66.62.

Xcel Energy Stock Up 0.4 %

Shares of NASDAQ XEL opened at $71.60 on Tuesday. The company has a quick ratio of 0.82, a current ratio of 0.93 and a debt-to-equity ratio of 1.42. The company has a market cap of $41.12 billion, a P/E ratio of 21.25, a P/E/G ratio of 2.92 and a beta of 0.38. Xcel Energy has a 52 week low of $46.79 and a 52 week high of $71.95. The business has a 50-day simple moving average of $65.57 and a two-hundred day simple moving average of $59.93.

Xcel Energy (NASDAQ:XEL) last released its quarterly earnings data on Thursday, October 31st. The company reported $1.25 EPS for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.01). The firm had revenue of $3.64 billion during the quarter, compared to the consensus estimate of $3.93 billion. Xcel Energy had a net margin of 13.67% and a return on equity of 10.76%. Xcel Energy’s revenue was down .5% compared to the same quarter last year. During the same quarter last year, the business posted $1.23 earnings per share. Research analysts anticipate that Xcel Energy will post 3.54 earnings per share for the current fiscal year.

Institutional Trading of Xcel Energy

A number of hedge funds have recently modified their holdings of the business. State Street Corp lifted its position in Xcel Energy by 6.7% during the 3rd quarter. State Street Corp now owns 37,143,025 shares of the company’s stock valued at $2,445,477,000 after acquiring an additional 2,323,448 shares during the period. Brookfield Corp ON lifted its holdings in shares of Xcel Energy by 520.1% during the third quarter. Brookfield Corp ON now owns 2,509,031 shares of the company’s stock valued at $163,840,000 after purchasing an additional 2,104,405 shares during the last quarter. Federated Hermes Inc. boosted its position in shares of Xcel Energy by 120.2% in the 2nd quarter. Federated Hermes Inc. now owns 2,379,615 shares of the company’s stock worth $127,095,000 after purchasing an additional 1,299,025 shares in the last quarter. American Century Companies Inc. grew its stake in shares of Xcel Energy by 130.4% in the 2nd quarter. American Century Companies Inc. now owns 2,084,345 shares of the company’s stock worth $111,325,000 after buying an additional 1,179,823 shares during the last quarter. Finally, Merewether Investment Management LP bought a new position in Xcel Energy during the 3rd quarter valued at approximately $64,301,000. Institutional investors own 78.38% of the company’s stock.

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.