TD Cowen Initiates Coverage on Xcel Energy (NASDAQ:XEL)

Key Points

• TD Cowen has initiated coverage on Xcel Energy, giving it a "buy" rating and a price target of $93.00, indicating a potential upside of 13.69% from its previous close.
• Other analysts have also raised their price targets for Xcel Energy, with an average target of $83.58 and a consensus rating of "Moderate Buy" based on inputs from eleven analysts.
• Xcel Energy has recently shown financial strength, with reported earnings per share (EPS) of $0.75 for the last quarter, surpassing analyst expectations and achieving year-over-year revenue growth of 8.6%.

Research analysts at TD Cowen started coverage on shares of Xcel Energy (NASDAQ:XEL - Get Free Report) in a report issued on Thursday, MarketBeat.com reports. The brokerage set a "buy" rating and a $93.00 price target on the stock. TD Cowen's price target points to a potential upside of 13.69% from the stock's previous close.

A number of other analysts have also issued reports on XEL. KeyCorp lifted their price target on Xcel Energy from $79.00 to $85.00 and gave the stock an "overweight" rating in a research note on Wednesday. UBS Group boosted their price objective on Xcel Energy from $82.00 to $84.00 and gave the stock a "neutral" rating in a research note on Friday, October 10th. Mizuho set a $83.00 price objective on Xcel Energy in a research note on Thursday, September 25th. Evercore ISI initiated coverage on Xcel Energy in a research note on Monday, October 6th. They set an "outperform" rating and a $92.00 price objective on the stock. Finally, Barclays boosted their price objective on Xcel Energy from $72.00 to $81.00 and gave the stock an "overweight" rating in a research note on Monday, September 29th. Eleven analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $83.58.

Xcel Energy Stock Up 1.2%

Xcel Energy stock opened at $81.80 on Thursday. The stock has a market capitalization of $48.38 billion, a PE ratio of 22.66, a price-to-earnings-growth ratio of 2.85 and a beta of 0.37. Xcel Energy has a 12 month low of $62.58 and a 12 month high of $82.54. The business has a 50 day simple moving average of $75.08 and a 200-day simple moving average of $71.54. The company has a debt-to-equity ratio of 1.48, a current ratio of 0.96 and a quick ratio of 0.85.

Xcel Energy (NASDAQ:XEL - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The company reported $0.75 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.66 by $0.09. The firm had revenue of $3.29 billion for the quarter, compared to analyst estimates of $3.31 billion. Xcel Energy had a return on equity of 10.52% and a net margin of 14.85%.The business's revenue was up 8.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.54 earnings per share. Xcel Energy has set its FY 2025 guidance at 3.750-3.850 EPS. On average, analysts anticipate that Xcel Energy will post 3.82 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Brighton Jones LLC acquired a new position in Xcel Energy during the fourth quarter worth approximately $240,000. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Xcel Energy by 18.3% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 472,344 shares of the company's stock valued at $33,437,000 after buying an additional 73,036 shares in the last quarter. Janney Montgomery Scott LLC raised its holdings in Xcel Energy by 2.5% during the first quarter. Janney Montgomery Scott LLC now owns 137,451 shares of the company's stock worth $9,730,000 after purchasing an additional 3,344 shares during the last quarter. Sowell Financial Services LLC acquired a new position in shares of Xcel Energy in the first quarter worth $353,000. Finally, Sagespring Wealth Partners LLC raised its holdings in shares of Xcel Energy by 15.6% in the first quarter. Sagespring Wealth Partners LLC now owns 5,242 shares of the company's stock worth $371,000 after acquiring an additional 709 shares during the last quarter. Hedge funds and other institutional investors own 78.38% of the company's stock.

Xcel Energy Company Profile

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.

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