Xcel Energy (NASDAQ:XEL) Price Target Raised to $77.00

Xcel Energy (NASDAQ:XEL - Free Report) had its target price hoisted by Evercore ISI from $74.00 to $77.00 in a report issued on Monday morning,Benzinga reports. Evercore ISI currently has an outperform rating on the stock.

Several other equities research analysts have also issued reports on XEL. Morgan Stanley set a $79.00 price objective on Xcel Energy and gave the company an "outperform" rating in a research note on Wednesday, April 23rd. UBS Group lifted their price target on shares of Xcel Energy from $73.00 to $77.00 and gave the stock a "neutral" rating in a research note on Tuesday, April 1st. Barclays increased their target price on Xcel Energy from $72.00 to $73.00 and gave the company an "overweight" rating in a report on Tuesday, April 22nd. BMO Capital Markets boosted their price objective on shares of Xcel Energy from $69.00 to $73.00 and gave the company a "market perform" rating in a research report on Wednesday, April 23rd. Finally, Wells Fargo & Company increased their target price on shares of Xcel Energy from $72.00 to $75.00 and gave the stock an "overweight" rating in a report on Friday, February 7th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $76.00.

Xcel Energy Price Performance

XEL traded up $0.03 during trading on Monday, reaching $70.70. 4,467,722 shares of the company were exchanged, compared to its average volume of 3,574,903. 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 $40.78 billion, a price-to-earnings ratio of 20.55, a P/E/G ratio of 2.62 and a beta of 0.39. Xcel Energy has a 12-month low of $51.97 and a 12-month high of $73.38. The company's 50-day moving average is $69.63 and its two-hundred day moving average is $68.18.

Xcel Energy (NASDAQ:XEL - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The company reported $0.84 EPS for the quarter, missing analysts' consensus estimates of $0.95 by ($0.11). The firm had revenue of $3.91 billion during the quarter, compared to the consensus estimate of $3.93 billion. Xcel Energy had a net margin of 14.40% and a return on equity of 10.65%. Xcel Energy's revenue was up 7.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.88 earnings per share. Research analysts forecast that Xcel Energy will post 3.82 earnings per share for the current fiscal year.

Xcel Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, April 20th. Stockholders of record on Friday, March 14th were issued a dividend of $0.57 per share. The ex-dividend date of this dividend was Friday, March 14th. This is an increase from Xcel Energy's previous quarterly dividend of $0.55. This represents a $2.28 annualized dividend and a dividend yield of 3.22%. Xcel Energy's dividend payout ratio (DPR) is presently 67.06%.

Insider Activity

In other news, Director Devin W. Stockfish purchased 2,170 shares of the stock in a transaction dated Tuesday, March 11th. The shares were purchased at an average cost of $68.93 per share, with a total value of $149,578.10. Following the acquisition, the director now directly owns 3,007 shares of the company's stock, valued at $207,272.51. This represents a 259.26 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.09% of the company's stock.

Institutional Investors Weigh In On Xcel Energy

Large investors have recently made changes to their positions in the company. Bank of America Corp DE raised its position in Xcel Energy by 43.6% in the fourth quarter. Bank of America Corp DE now owns 20,762,745 shares of the company's stock worth $1,401,901,000 after acquiring an additional 6,306,380 shares during the period. FMR LLC grew its holdings in Xcel Energy by 118.3% during the fourth quarter. FMR LLC now owns 6,608,044 shares of the company's stock valued at $446,175,000 after purchasing an additional 3,581,436 shares during the period. Zimmer Partners LP increased its position in Xcel Energy by 1,625.7% in the fourth quarter. Zimmer Partners LP now owns 3,667,200 shares of the company's stock worth $247,609,000 after buying an additional 3,454,700 shares in the last quarter. Pictet Asset Management Holding SA raised its stake in shares of Xcel Energy by 236.7% in the fourth quarter. Pictet Asset Management Holding SA now owns 4,878,279 shares of the company's stock worth $329,381,000 after buying an additional 3,429,353 shares during the period. Finally, Janus Henderson Group PLC lifted its position in shares of Xcel Energy by 379.3% during the 4th quarter. Janus Henderson Group PLC now owns 4,022,085 shares of the company's stock valued at $271,578,000 after buying an additional 3,182,939 shares in the last quarter. 78.38% of the stock is currently owned by institutional investors.

About Xcel Energy

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.