Xcel Energy (NASDAQ:XEL) Price Target Raised to $78.00

Key Points

• Investment analysts at Mizuho raised their target price for Xcel Energy from $74.00 to $78.00, indicating a potential upside of 5.65% from the stock's previous close.
• Xcel Energy has a consensus rating of "Moderate Buy" with an average price target of $76.00, as eight analysts have assigned a buy rating to the stock.
• The company reported earnings of $0.75 per share for the last quarter, exceeding expectations, and its revenue saw an 8.6% year-over-year increase.

Xcel Energy (NASDAQ:XEL - Get Free Report) had its target price hoisted by investment analysts at Mizuho from $74.00 to $78.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has an "outperform" rating on the stock. Mizuho's target price would suggest a potential upside of 5.65% from the stock's previous close.

XEL has been the subject of a number of other reports. Evercore ISI increased their target price on shares of Xcel Energy from $74.00 to $77.00 and gave the stock an "outperform" rating in a report on Monday, April 28th. Wells Fargo & Company set a $78.00 target price on shares of Xcel Energy and gave the stock an "overweight" rating in a report on Friday, April 25th. Morgan Stanley dropped their target price on shares of Xcel Energy from $78.00 to $77.00 and set an "equal weight" rating for the company in a report on Wednesday, June 18th. Wall Street Zen lowered shares of Xcel Energy from a "hold" rating to a "sell" rating in a report on Tuesday, May 20th. Finally, BMO Capital Markets increased their target price on shares of Xcel Energy from $69.00 to $73.00 and gave the stock a "market perform" rating in a report on Wednesday, April 23rd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $76.00.

Xcel Energy Price Performance

Shares of Xcel Energy stock traded up $0.39 during trading on Friday, hitting $73.83. The stock had a trading volume of 1,420,768 shares, compared to its average volume of 3,623,772. The firm has a market cap of $42.58 billion, a price-to-earnings ratio of 21.71, a P/E/G ratio of 2.44 and a beta of 0.36. Xcel Energy has a 12 month low of $57.24 and a 12 month high of $74.13. The business's 50-day moving average is $69.10 and its 200 day moving average is $69.07. The company has a current ratio of 0.80, a quick ratio of 0.70 and a debt-to-equity ratio of 1.48.

Xcel Energy (NASDAQ:XEL - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The company reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.09. Xcel Energy had a net margin of 14.10% and a return on equity of 10.20%. The firm had revenue of $3.29 billion for the quarter, compared to analysts' expectations of $3.31 billion. During the same quarter in the prior year, the firm posted $0.54 earnings per share. The business's quarterly revenue was up 8.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Xcel Energy will post 3.82 earnings per share for the current year.

Hedge Funds Weigh In On Xcel Energy

Institutional investors and hedge funds have recently made changes to their positions in the business. Accent Capital Management LLC purchased a new stake in shares of Xcel Energy during the first quarter valued at approximately $29,000. BankPlus Trust Department bought a new stake in Xcel Energy in the 1st quarter worth approximately $34,000. Rise Advisors LLC grew its position in Xcel Energy by 62.9% in the 2nd quarter. Rise Advisors LLC now owns 518 shares of the company's stock worth $35,000 after purchasing an additional 200 shares during the period. Marshall & Sullivan Inc. WA purchased a new position in shares of Xcel Energy during the 2nd quarter worth $44,000. Finally, RMG Wealth Management LLC purchased a new position in shares of Xcel Energy during the 2nd quarter worth $46,000. Institutional investors own 78.38% of the company's stock.

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.

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