Xcel Energy (NASDAQ:XEL) Hits New 12-Month Low After Analyst Downgrade

Key Points

• Xcel Energy shares hit a new 52-week low of $71.67 after Morgan Stanley cut its price target from $89 to $83 while maintaining an equal-weight rating.
• Despite the downgrade, analyst sentiment remains broadly positive: Xcel has an average “Buy” rating and a consensus price target of $92.06, while institutional investors own 78.38% of its shares.
• The company beat quarterly EPS estimates but reported a 5.1% year-over-year revenue decline; it also announced a quarterly dividend of $0.5925, equivalent to a 3.3% yield.

Xcel Energy Inc. (NASDAQ:XEL - Get Free Report)'s stock price hit a new 52-week low on Monday after Morgan Stanley lowered their price target on the stock from $89.00 to $83.00. Morgan Stanley currently has an equal weight rating on the stock. Xcel Energy traded as low as $71.67 and last traded at $71.89, with a volume of 4319492 shares traded. The stock had previously closed at $72.30.

A number of other research analysts have also commented on XEL. Truist Financial dropped their target price on Xcel Energy from $94.00 to $88.00 and set a "buy" rating on the stock in a report on Thursday, August 13th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Xcel Energy in a research note on Monday, September 14th. Mizuho set a $92.00 price target on Xcel Energy in a research report on Friday, July 31st. New Street Research set a $91.00 price objective on Xcel Energy in a report on Tuesday, June 23rd. Finally, KeyCorp reaffirmed an "overweight" rating on shares of Xcel Energy in a research note on Monday, June 8th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $92.06.

Institutional Investors Weigh In On Xcel Energy

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Security National Bank of Sioux City Iowa IA acquired a new position in shares of Xcel Energy in the 2nd quarter worth $85,000. Sequoia Financial Advisors LLC boosted its position in shares of Xcel Energy by 11.6% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 47,995 shares of the company's stock valued at $3,854,000 after purchasing an additional 4,983 shares during the period. Tidal Investments LLC boosted its position in shares of Xcel Energy by 118.3% in the 2nd quarter. Tidal Investments LLC now owns 505,096 shares of the company's stock valued at $40,559,000 after purchasing an additional 273,749 shares during the period. MCF Advisors LLC increased its stake in Xcel Energy by 125.2% in the 2nd quarter. MCF Advisors LLC now owns 608 shares of the company's stock worth $49,000 after purchasing an additional 338 shares in the last quarter. Finally, National Pension Service raised its holdings in Xcel Energy by 6.3% during the 2nd quarter. National Pension Service now owns 803,504 shares of the company's stock worth $64,521,000 after buying an additional 47,608 shares during the period. Institutional investors and hedge funds own 78.38% of the company's stock.

Xcel Energy Stock Down 0.6%

The business's 50 day simple moving average is $77.53 and its 200 day simple moving average is $79.08. The company has a market capitalization of $44.88 billion, a PE ratio of 19.68, a price-to-earnings-growth ratio of 2.45 and a beta of 0.39. The company has a quick ratio of 0.62, a current ratio of 0.70 and a debt-to-equity ratio of 1.49.

Xcel Energy (NASDAQ:XEL - Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The company reported $0.93 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.79 by $0.14. Xcel Energy had a net margin of 15.28% and a return on equity of 10.65%. The business had revenue of $3.12 billion for the quarter, compared to analyst estimates of $3.54 billion. During the same quarter in the previous year, the business earned $1.59 earnings per share. The firm's revenue was down 5.1% compared to the same quarter last year. As a group, analysts forecast that Xcel Energy Inc. will post 4.12 EPS for the current year.

Xcel Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 20th. Stockholders of record on Tuesday, September 15th will be given a $0.5925 dividend. This represents a $2.37 annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend is Tuesday, September 15th. Xcel Energy's dividend payout ratio (DPR) is 64.93%.

Xcel Energy Company Profile

Xcel Energy Inc is a Minneapolis-based electric and natural gas utility holding company that serves customers across parts of Colorado, Michigan, Minnesota, New Mexico, North Dakota, South Dakota, Texas and Wisconsin. Through its operating companies, Xcel provides electricity generation, transmission and distribution, as well as natural gas distribution and related energy services.

The company operates a diversified generating fleet that includes wind, solar, hydroelectric, nuclear, natural gas and other resources.

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