UBS Group Raises Xcel Energy (NASDAQ:XEL) Price Target to $67.00

Xcel Energy (NASDAQ:XEL) had its price target boosted by UBS Group from $66.00 to $67.00 in a research note released on Friday, Benzinga reports. UBS Group currently has a neutral rating on the stock.

XEL has been the topic of several other research reports. Wells Fargo & Company boosted their price target on shares of Xcel Energy from $57.00 to $63.00 and gave the company an equal weight rating in a research report on Friday, August 2nd. Morgan Stanley increased their target price on Xcel Energy from $62.00 to $68.00 and gave the stock an equal weight rating in a research report on Friday, August 23rd. KeyCorp lifted their price target on Xcel Energy from $65.00 to $66.00 and gave the company an overweight rating in a research report on Monday, September 16th. Jefferies Financial Group initiated coverage on Xcel Energy in a report on Thursday, September 19th. They set a hold rating and a $70.00 price objective on the stock. Finally, Argus raised 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. Eight investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of Hold and an average target price of $63.79.

Xcel Energy Price Performance

Shares of NASDAQ XEL opened at $63.96 on Friday. The company has a market capitalization of $35.54 billion, a PE ratio of 19.21, a PEG ratio of 2.81 and a beta of 0.38. The company has a quick ratio of 0.86, a current ratio of 0.97 and a debt-to-equity ratio of 1.54. The stock’s 50 day moving average price is $60.11 and its 200-day moving average price is $56.06. Xcel Energy has a twelve month low of $46.79 and a twelve month high of $64.95.

Xcel Energy (NASDAQ:XEL) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.54 earnings per share for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.03). Xcel Energy had a return on equity of 10.94% and a net margin of 13.46%. The company had revenue of $3.03 billion during the quarter, compared to analysts’ expectations of $3.29 billion. During the same period last year, the firm posted $0.52 earnings per share. Xcel Energy’s quarterly revenue was up .2% compared to the same quarter last year. On average, equities analysts anticipate that Xcel Energy will post 3.55 EPS for the current year.

Xcel Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, October 20th. Stockholders of record on Friday, September 13th will be paid a dividend of $0.548 per share. This represents a $2.19 annualized dividend and a dividend yield of 3.43%. This is an increase from Xcel Energy’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend is Friday, September 13th. Xcel Energy’s dividend payout ratio is 65.77%.

Institutional Investors Weigh In On Xcel Energy

Large investors have recently made changes to their positions in the business. ProShare Advisors LLC raised its stake in Xcel Energy by 23.2% in the first quarter. ProShare Advisors LLC now owns 643,986 shares of the company’s stock worth $34,614,000 after buying an additional 121,118 shares in the last quarter. Allianz Asset Management GmbH lifted its stake in shares of Xcel Energy by 7.5% in the 4th quarter. Allianz Asset Management GmbH now owns 419,106 shares of the company’s stock valued at $25,947,000 after purchasing an additional 29,307 shares during the period. Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of Xcel Energy by 2.4% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,625,530 shares of the company’s stock valued at $87,372,000 after purchasing an additional 38,653 shares in the last quarter. Focus Financial Network Inc. ADV bought a new stake in shares of Xcel Energy during the fourth quarter valued at approximately $9,120,000. Finally, Daiwa Securities Group Inc. raised its holdings in Xcel Energy by 24.8% in the first quarter. Daiwa Securities Group Inc. now owns 100,969 shares of the company’s stock worth $5,427,000 after purchasing an additional 20,068 shares in the last quarter. 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.