Xcel Energy (NASDAQ:XEL) Stock Price Crosses Above 200 Day Moving Average - Here's What Happened

Key Points

• Xcel Energy shares crossed above their 200-day moving average, reaching $78.29 and closing near $78.14, up 0.4%. The stock’s 200-day average was $78.12.
• Analysts remain broadly positive, with an average rating of “Buy” and an average price target of $90.21, despite several target-price reductions.
• Xcel Energy exceeded quarterly EPS expectations, reporting $0.93 versus the $0.79 consensus estimate, while revenue fell 5.1% year over year to $3.12 billion. Institutional investors own 78.38% of the company.

Xcel Energy Inc. (NASDAQ:XEL - Get Free Report) passed above its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of $78.12 and traded as high as $78.29. Xcel Energy shares last traded at $78.14, with a volume of 3,106,122 shares trading hands.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Morgan Stanley boosted their target price on shares of Xcel Energy from $83.00 to $85.00 and gave the stock an "equal weight" rating in a research report on Wednesday, October 21st. The Goldman Sachs Group cut their price target on shares of Xcel Energy from $95.00 to $93.00 in a report on Thursday, October 15th. Royal Bank Of Canada set a $86.00 price objective on shares of Xcel Energy in a research note on Tuesday, October 20th. Jefferies Financial Group restated a "buy" rating and set a $99.00 target price (down from $101.00) on shares of Xcel Energy in a report on Tuesday, October 20th. Finally, Mizuho set a $92.00 price target on Xcel Energy and gave the stock an "outperform" rating in a research report on Friday, July 31st. One 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's stock. According to MarketBeat, the company currently has an average rating of "Buy" and an average price target of $90.21.

Xcel Energy Stock Up 0.4%

The stock's 50-day moving average price is $74.71 and its 200 day moving average price is $78.12. The company has a market cap of $48.81 billion, a P/E ratio of 21.41 and a beta of 0.36.

Xcel Energy (NASDAQ:XEL - Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The company reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.14. The firm had revenue of $3.12 billion for the quarter, compared to the consensus estimate of $3.54 billion. Xcel Energy's quarterly revenue was down 5.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.59 earnings per share. Analysts expect that Xcel Energy Inc. will post 4.13 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Xcel Energy

Several large investors have recently made changes to their positions in XEL. BOKF NA boosted its stake in Xcel Energy by 30.9% in the third quarter. BOKF NA now owns 21,938 shares of the company's stock worth $1,546,000 after purchasing an additional 5,177 shares in the last quarter. North Dakota State Investment Board raised its holdings in shares of Xcel Energy by 8.7% in the third quarter. North Dakota State Investment Board now owns 19,123 shares of the company's stock valued at $1,348,000 after buying an additional 1,524 shares during the last quarter. Victory Financial Group LLC raised its holdings in shares of Xcel Energy by 9.5% in the third quarter. Victory Financial Group LLC now owns 4,429 shares of the company's stock valued at $312,000 after buying an additional 384 shares during the last quarter. Asset Management One Co. Ltd. raised its holdings in shares of Xcel Energy by 2.4% in the third quarter. Asset Management One Co. Ltd. now owns 315,032 shares of the company's stock valued at $22,203,000 after buying an additional 7,261 shares during the last quarter. Finally, MADDEN SECURITIES Corp acquired a new position in Xcel Energy during the 3rd quarter worth about $68,000. Institutional investors and hedge funds own 78.38% of the company's stock.

About Xcel Energy

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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