Xcel Energy (NASDAQ:XEL) Price Target Raised to $94.00

Key Points

• Barclays raised Xcel Energy’s price target to $94 from $85 and maintained an “overweight” rating, implying 18.49% upside from the current price. Analysts overall rate the stock “Buy,” with an average target of $90.78.
• Xcel Energy shares fell 0.6% to $79.33 in midday trading, while the company reported quarterly EPS of $1.52, beating estimates of $1.39. Revenue rose 6.6% year over year to $4.17 billion but came in below consensus.
• Institutional investors hold 78.38% of Xcel Energy’s stock, with major investors including BlackRock, State Street, and Bank of America increasing or establishing positions during the second quarter.

Xcel Energy (NASDAQ:XEL - Get Free Report) had its price objective raised by stock analysts at Barclays from $85.00 to $94.00 in a note issued to investors on Monday, Benzinga reports. The firm currently has an "overweight" rating on the stock. Barclays's target price points to a potential upside of 18.49% from the company's current price.

XEL has been the subject of several other research reports. JPMorgan Chase & Co. decreased their price target on shares of Xcel Energy from $97.00 to $92.00 and set an "overweight" rating for the company in a report on Tuesday, October 13th. Morgan Stanley raised their price objective on Xcel Energy from $83.00 to $85.00 and gave the stock an "equal weight" rating in a research note on Wednesday, October 21st. Truist Financial reduced their target price on Xcel Energy from $88.00 to $87.00 and set a "buy" rating on the stock in a report on Wednesday, October 14th. Jefferies Financial Group reissued a "buy" rating and issued a $99.00 target price (down from $101.00) on shares of Xcel Energy in a research note on Tuesday, October 20th. Finally, BMO Capital Markets decreased their price objective on Xcel Energy from $91.00 to $86.00 and set an "outperform" rating for the company in a research report on Tuesday, October 20th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, Xcel Energy presently has an average rating of "Buy" and an average target price of $90.78.

Xcel Energy Trading Down 0.6%

XEL traded down $0.49 during midday trading on Monday, reaching $79.33. 16,239,494 shares of the company were exchanged, compared to its average volume of 5,291,117. The stock has a market capitalization of $50.92 billion, a P/E ratio of 18.49, a PEG ratio of 2.65 and a beta of 0.34. Xcel Energy has a one year low of $68.72 and a one year high of $84.23. The stock's 50-day simple moving average is $74.68 and its 200 day simple moving average is $78.19. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.61 and a current ratio of 0.69.

Xcel Energy (NASDAQ:XEL - Get Free Report) last announced its quarterly earnings results on Wednesday, October 28th. The company reported $1.52 earnings per share for the quarter, beating analysts' consensus estimates of $1.39 by $0.13. The business had revenue of $4.17 billion for the quarter, compared to the consensus estimate of $4.26 billion. Xcel Energy had a net margin of 17.94% and a return on equity of 11.10%. Xcel Energy's revenue for the quarter was up 6.6% on a year-over-year basis. During the same period last year, the company posted $1.24 EPS. As a group, analysts forecast that Xcel Energy will post 4.13 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Xcel Energy

A number of large investors have recently added to or reduced their stakes in XEL. BlackRock Inc. acquired a new position in shares of Xcel Energy during the second quarter worth about $4,890,136,000. State Street Corp raised its position in Xcel Energy by 4.8% in the 2nd quarter. State Street Corp now owns 38,896,012 shares of the company's stock valued at $3,145,176,000 after buying an additional 1,770,356 shares during the last quarter. Bank of America Corp DE raised its position in Xcel Energy by 1.7% in the 2nd quarter. Bank of America Corp DE now owns 29,933,748 shares of the company's stock valued at $2,403,680,000 after buying an additional 491,937 shares during the last quarter. GQG Partners LLC bought a new stake in Xcel Energy in the 2nd quarter valued at approximately $891,688,000. Finally, Barrow Hanley Mewhinney & Strauss LLC bought a new stake in Xcel Energy in the 2nd quarter valued at approximately $708,086,000. Institutional investors own 78.38% of the company's stock.

Xcel Energy Company Profile

Xcel Energy Inc is a public utility holding company that provides electricity and natural gas services to residential, commercial, and industrial customers. Its operations include the generation, transmission, distribution, and sale of electricity, as well as the distribution and sale of natural gas.

The company serves customers across Colorado, Michigan, Minnesota, New Mexico, North Dakota, South Dakota, Texas, and Wisconsin through operating companies including Northern States Power, Public Service Company of Colorado, Southwestern Public Service Company, and NSP-Wisconsin.

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