Xcel Energy (NASDAQ:XEL) Upgraded to Hold at Wall Street Zen

Key Points

• Wall Street Zen upgraded Xcel Energy from “sell” to “hold.” Despite the change, MarketBeat reported a consensus “buy” rating and an average price target of $90.71.
• Xcel reported quarterly EPS of $1.52, beating the $1.39 analyst consensus, while revenue of $4.17 billion fell short of the $4.26 billion estimate. Revenue grew 6.6% year over year.
• Xcel shares opened at $79.67, within a 12-month range of $68.72 to $84.23; institutional investors own about 78.4% of the stock.

Xcel Energy (NASDAQ:XEL - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a note issued to investors on Sunday, Wall Street Zen reports.

Several other equities analysts have also recently weighed in on the company. Jefferies Financial Group reaffirmed a "buy" rating and set a $99.00 target price (down from $101.00) on shares of Xcel Energy in a research note on Tuesday, October 20th. Truist Financial dropped their price objective on shares of Xcel Energy from $88.00 to $87.00 and set a "buy" rating on the stock in a research note on Wednesday, October 14th. BTIG Research set a $92.00 target price on shares of Xcel Energy in a research report on Friday, October 30th. Barclays increased their target price on shares of Xcel Energy from $85.00 to $94.00 and gave the stock an "overweight" rating in a research report on Monday, November 2nd. Finally, KeyCorp lowered their price target on shares of Xcel Energy from $90.00 to $87.00 and set an "overweight" rating on the stock in a report on Tuesday, October 13th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, Xcel Energy currently has a consensus rating of "Buy" and a consensus price target of $90.71.

Xcel Energy Price Performance

XEL opened at $79.67 on Friday. The stock has a fifty day moving average of $74.94 and a 200-day moving average of $78.29. The firm has a market capitalization of $51.14 billion, a P/E ratio of 18.57, a PEG ratio of 2.58 and a beta of 0.34. Xcel Energy has a 12-month low of $68.72 and a 12-month high of $84.23. The company has a quick ratio of 0.61, a current ratio of 0.69 and a debt-to-equity ratio of 1.43.

Xcel Energy (NASDAQ:XEL - Get Free Report) last issued 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 return on equity of 11.10% and a net margin of 17.94%. Xcel Energy's revenue for the quarter was up 6.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.24 earnings per share. Equities analysts forecast that Xcel Energy will post 4.14 EPS for the current fiscal year.

Institutional Investors Weigh In On Xcel Energy

A number of large investors have recently bought and sold shares of the business. BlackRock Inc. bought a new stake in shares of Xcel Energy during the 2nd quarter worth about $4,890,136,000. State Street Corp grew its holdings in Xcel Energy by 4.8% during the second quarter. State Street Corp now owns 38,896,012 shares of the company's stock valued at $3,145,176,000 after purchasing an additional 1,770,356 shares during the last quarter. Bank of America Corp DE boosted its holdings in shares of Xcel Energy by 1.7% during the 2nd quarter. Bank of America Corp DE now owns 29,933,748 shares of the company's stock worth $2,403,680,000 after buying an additional 491,937 shares during the period. GQG Partners LLC acquired a new position in Xcel Energy in the 2nd quarter valued at $891,688,000. Finally, Pictet Asset Management Holding SA lifted its position in Xcel Energy by 1.9% during the 3rd quarter. Pictet Asset Management Holding SA now owns 9,210,086 shares of the company's stock worth $649,128,000 after acquiring an additional 171,514 shares during the last quarter. 78.38% of the stock is currently owned by institutional investors.

Xcel Energy Company Profile

Xcel Energy Inc is a regulated electric and natural gas utility headquartered in Minneapolis, Minnesota. Through its operating companies, it generates, purchases, transmits and distributes electricity, and delivers natural gas to residential, commercial and industrial customers.

The company serves customers in eight states: Colorado, Michigan, Minnesota, New Mexico, North Dakota, South Dakota, Texas and Wisconsin. Its electric system includes a mix of generation resources, supported by transmission and distribution networks.

Xcel Energy traces its roots to Northern States Power Company, founded in 1909.

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