Xcel Energy (NASDAQ:XEL) Price Target Raised to $84.00

Key Points

• Bank of America has raised Xcel Energy's target price from $78.00 to $84.00, indicating a potential upside of 7.79% from the current price.
• Multiple analysts have upgraded Xcel Energy, with BMO Capital Markets and Mizuho increasing their target prices to $80.00 and maintaining an "outperform" rating.
• Xcel Energy reported quarterly earnings of $0.75 per share, surpassing estimates, while its revenue for the quarter increased by 8.6% year-over-year.

Xcel Energy (NASDAQ:XEL - Get Free Report) had its target price boosted by Bank of America from $78.00 to $84.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has a "buy" rating on the stock. Bank of America's target price indicates a potential upside of 7.79% from the stock's current price.

A number of other research analysts have also commented on XEL. BMO Capital Markets upgraded Xcel Energy from a "market perform" rating to an "outperform" rating and upped their target price for the company from $73.00 to $80.00 in a research note on Monday. Mizuho upped their target price on Xcel Energy from $78.00 to $80.00 and gave the company an "outperform" rating in a research note on Wednesday. Finally, Morgan Stanley restated an "outperform" rating on shares of Xcel Energy in a research note on Thursday, August 21st. Ten analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $78.27.

Xcel Energy Stock Up 6.7%

XEL opened at $77.93 on Thursday. Xcel Energy has a 1-year low of $62.12 and a 1-year high of $78.13. The company has a current ratio of 0.96, a quick ratio of 0.85 and a debt-to-equity ratio of 1.48. The stock has a market capitalization of $46.09 billion, a price-to-earnings ratio of 21.59, a P/E/G ratio of 2.46 and a beta of 0.35. The business has a 50 day moving average of $72.67 and a 200-day moving average of $70.38.

Xcel Energy (NASDAQ:XEL - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The company reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.09. Xcel Energy had a return on equity of 10.52% and a net margin of 14.85%.The company had revenue of $3.29 billion during the quarter, compared to analysts' expectations of $3.31 billion. During the same period in the prior year, the business earned $0.54 earnings per share. Xcel Energy's revenue for the quarter was up 8.6% compared to the same quarter last year. Xcel Energy has set its FY 2025 guidance at 3.750-3.850 EPS. As a group, sell-side analysts anticipate that Xcel Energy will post 3.82 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in Xcel Energy by 1.3% during the first quarter. Vanguard Group Inc. now owns 74,818,158 shares of the company's stock worth $5,296,377,000 after acquiring an additional 986,170 shares in the last quarter. State Street Corp increased its stake in shares of Xcel Energy by 0.4% in the second quarter. State Street Corp now owns 34,144,257 shares of the company's stock valued at $2,344,295,000 after buying an additional 126,790 shares in the last quarter. Bank of America Corp DE increased its stake in shares of Xcel Energy by 9.0% in the second quarter. Bank of America Corp DE now owns 26,262,079 shares of the company's stock valued at $1,788,448,000 after buying an additional 2,157,602 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Xcel Energy by 31.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 25,809,978 shares of the company's stock valued at $1,827,090,000 after buying an additional 6,109,190 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its stake in shares of Xcel Energy by 7.9% in the first quarter. JPMorgan Chase & Co. now owns 20,811,241 shares of the company's stock valued at $1,473,228,000 after buying an additional 1,520,092 shares in the last quarter. 78.38% of the stock is currently owned by institutional investors and hedge funds.

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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