JPMorgan Chase & Co. Issues Positive Forecast for Xcel Energy (NASDAQ:XEL) Stock Price

Key Points

• JPMorgan Chase & Co. raised its price target on Xcel Energy to $102 from $91 and kept an overweight rating, implying about 27.8% upside from the current price.
• Other analysts have also been positive: several firms lifted targets or reiterated buy/overweight ratings, and MarketBeat says the stock now carries a consensus Buy with an average target price of $92.76.
• Xcel Energy shares were up 0.7% to $79.81, while the company’s latest quarterly results showed EPS of $0.91 in line with estimates and revenue of $4.02 billion, slightly below expectations.

Xcel Energy (NASDAQ:XEL - Get Free Report) had its price target raised by equities research analysts at JPMorgan Chase & Co. from $91.00 to $102.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s target price would suggest a potential upside of 27.80% from the company's current price.

Several other research firms also recently weighed in on XEL. BMO Capital Markets upped their price objective on shares of Xcel Energy from $90.00 to $94.00 and gave the stock an "outperform" rating in a report on Wednesday, April 22nd. KeyCorp restated an "overweight" rating on shares of Xcel Energy in a report on Monday, June 8th. Truist Financial lifted their target price on Xcel Energy from $92.00 to $94.00 and gave the company a "buy" rating in a research report on Thursday. BTIG Research reissued a "buy" rating and issued a $98.00 price target on shares of Xcel Energy in a research report on Friday, June 26th. Finally, Barclays increased their target price on shares of Xcel Energy from $87.00 to $90.00 and gave the company an "overweight" rating in a report on Thursday, July 9th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, Xcel Energy has a consensus rating of "Buy" and an average target price of $92.76.

Xcel Energy Stock Up 0.7%

Shares of XEL stock traded up $0.56 on Thursday, reaching $79.81. 2,939,715 shares of the company were exchanged, compared to its average volume of 5,210,575. The company has a 50-day moving average of $79.58 and a 200-day moving average of $79.01. Xcel Energy has a one year low of $68.97 and a one year high of $84.23. The company has a debt-to-equity ratio of 1.45, a current ratio of 0.77 and a quick ratio of 0.68. The company has a market cap of $49.82 billion, a price-to-earnings ratio of 23.00, a PEG ratio of 2.08 and a beta of 0.39.

Xcel Energy (NASDAQ:XEL - Get Free Report) last announced its quarterly earnings data on Wednesday, April 29th. The company reported $0.91 EPS for the quarter, meeting analysts' consensus estimates of $0.91. Xcel Energy had a return on equity of 10.37% and a net margin of 14.14%.The firm had revenue of $4.02 billion during the quarter, compared to analysts' expectations of $4.21 billion. During the same quarter last year, the firm posted $0.84 earnings per share. The company's revenue for the quarter was up 2.9% compared to the same quarter last year. Analysts anticipate that Xcel Energy will post 4.11 earnings per share for the current year.

Institutional Trading of Xcel Energy

A number of institutional investors have recently modified their holdings of XEL. USA Financial Formulas raised its position in shares of Xcel Energy by 491.3% during the fourth quarter. USA Financial Formulas now owns 21,435 shares of the company's stock valued at $1,583,000 after buying an additional 17,810 shares during the last quarter. Union Bancaire Privee UBP SA boosted its position in shares of Xcel Energy by 226.4% during the fourth quarter. Union Bancaire Privee UBP SA now owns 42,354 shares of the company's stock worth $3,128,000 after acquiring an additional 29,376 shares during the last quarter. Cbre Investment Management Listed Real Assets LLC boosted its position in shares of Xcel Energy by 18.1% during the fourth quarter. Cbre Investment Management Listed Real Assets LLC now owns 2,324,667 shares of the company's stock worth $171,700,000 after acquiring an additional 356,208 shares during the last quarter. Oliver Luxxe Assets LLC grew its stake in Xcel Energy by 26.6% during the fourth quarter. Oliver Luxxe Assets LLC now owns 74,149 shares of the company's stock valued at $5,477,000 after acquiring an additional 15,590 shares in the last quarter. Finally, Tounjian Advisory Partners LLC purchased a new position in Xcel Energy during the fourth quarter valued at $1,165,000. 78.38% of the stock is currently owned by hedge funds and other institutional investors.

Xcel Energy Company Profile

Xcel Energy NASDAQ: XEL is a Minneapolis-based, publicly traded utility holding company that develops, owns and operates regulated electricity and natural gas delivery systems. The company's core activities include generation, transmission and distribution of electricity, the delivery of natural gas to customers, and related customer service operations. Xcel provides a mix of utility services to residential, commercial and industrial customers and participates in wholesale energy markets where appropriate.

Its generation portfolio combines nuclear, natural gas, coal and a growing share of renewable resources such as wind and solar.

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