Xcel Energy (NASDAQ:XEL) Upgraded to “Overweight” at JPMorgan Chase & Co.

Xcel Energy (NASDAQ:XEL) was upgraded by equities researchers at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has a $80.00 target price on the stock, up from their previous target price of $69.00. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 17.03% from the company’s previous close.

Several other analysts also recently weighed in on XEL. Jefferies Financial Group upgraded shares of Xcel Energy from a “hold” rating to a “buy” rating and lifted their target price for the company from $71.00 to $76.00 in a report on Friday, November 1st. Wells Fargo & Company boosted their price objective on Xcel Energy from $63.00 to $66.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. Morgan Stanley lowered their target price on Xcel Energy from $74.00 to $72.00 and set an “equal weight” rating for the company in a report on Friday, November 22nd. Barclays lifted their target price on Xcel Energy from $67.00 to $71.00 and gave the company an “overweight” rating in a research report on Tuesday, November 26th. Finally, Argus raised shares of Xcel Energy from a “hold” rating to a “buy” rating and set a $68.00 price objective for the company in a research note on Monday, August 26th. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, Xcel Energy presently has an average rating of “Moderate Buy” and an average target price of $68.62.

Xcel Energy Price Performance

XEL stock opened at $68.36 on Thursday. Xcel Energy has a 52-week low of $46.79 and a 52-week high of $73.38. 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 stock has a market cap of $39.26 billion, a price-to-earnings ratio of 20.28, a price-to-earnings-growth ratio of 2.86 and a beta of 0.41. The business has a fifty day moving average of $67.10 and a two-hundred day moving average of $61.19.

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

Institutional Investors Weigh In On Xcel Energy

Several institutional investors have recently added to or reduced their stakes in XEL. Copley Financial Group Inc. acquired a new stake in Xcel Energy during the third quarter worth approximately $532,000. Synovus Financial Corp raised its stake in Xcel Energy by 17.7% during the 3rd quarter. Synovus Financial Corp now owns 5,795 shares of the company’s stock worth $378,000 after acquiring an additional 873 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in Xcel Energy in the third quarter valued at $1,124,000. Sanctuary Advisors LLC boosted its stake in Xcel Energy by 28.7% in the third quarter. Sanctuary Advisors LLC now owns 82,826 shares of the company’s stock valued at $5,910,000 after acquiring an additional 18,489 shares in the last quarter. Finally, Stock Yards Bank & Trust Co. grew its holdings in shares of Xcel Energy by 12.6% during the third quarter. Stock Yards Bank & Trust Co. now owns 5,984 shares of the company’s stock worth $391,000 after purchasing an additional 668 shares during the last quarter. Hedge funds and other 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.