Xcel Energy (NASDAQ:XEL) Price Target Raised to $87.00 at BMO Capital Markets

Key Points

• BMO Capital Markets raised Xcel Energy's price target from $84.00 to $87.00, indicating a potential upside of 7.61% from the company's previous close and maintaining an "outperform" rating.
• The current average price target from analysts for Xcel Energy is $82.18, with nine analysts rating it as a Buy and three as a Hold.
• Xcel Energy recently reported earnings of $0.75 per share, surpassing expectations, with revenue rising 8.6% year-over-year to $3.29 billion.

Xcel Energy (NASDAQ:XEL - Get Free Report) had its price objective increased by equities research analysts at BMO Capital Markets from $84.00 to $87.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has an "outperform" rating on the stock. BMO Capital Markets' target price would suggest a potential upside of 7.61% from the company's previous close.

Other equities research analysts have also issued reports about the stock. Weiss Ratings reissued a "hold (c+)" rating on shares of Xcel Energy in a research note on Wednesday, October 8th. Mizuho set a $83.00 price target on shares of Xcel Energy in a research report on Thursday, September 25th. Barclays upped their price target on shares of Xcel Energy from $72.00 to $81.00 and gave the stock an "overweight" rating in a research report on Monday, September 29th. Bank of America upped their price target on shares of Xcel Energy from $78.00 to $84.00 and gave the stock a "buy" rating in a research report on Thursday, September 25th. Finally, Morgan Stanley reduced their price target on shares of Xcel Energy from $81.00 to $80.00 and set an "equal weight" rating for the company in a research report on Thursday, September 25th. Nine analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, Xcel Energy presently has an average rating of "Moderate Buy" and an average price target of $82.18.

Xcel Energy Stock Performance

Shares of XEL stock opened at $80.85 on Wednesday. The business's fifty day simple moving average is $74.91 and its 200-day simple moving average is $71.47. The company has a market cap of $47.82 billion, a PE ratio of 22.40, a PEG ratio of 2.83 and a beta of 0.37. The company has a current ratio of 0.96, a quick ratio of 0.85 and a debt-to-equity ratio of 1.48. Xcel Energy has a 12-month low of $62.58 and a 12-month high of $82.54.

Xcel Energy (NASDAQ:XEL - Get Free Report) last released its earnings results on Thursday, July 31st. The company reported $0.75 earnings per share (EPS) 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 firm had revenue of $3.29 billion for the quarter, compared to the consensus estimate of $3.31 billion. During the same period in the prior year, the firm earned $0.54 EPS. The firm's revenue was up 8.6% on a year-over-year basis. Xcel Energy has set its FY 2025 guidance at 3.750-3.850 EPS. Analysts expect that Xcel Energy will post 3.82 earnings per share for the current fiscal year.

Institutional Trading of Xcel Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD increased its holdings in shares of Xcel Energy by 31.0% in the 1st 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 acquiring an additional 6,109,190 shares during the period. Nuveen LLC acquired a new position in Xcel Energy in the 1st quarter valued at $155,510,000. Bank of America Corp DE increased its stake in Xcel Energy by 9.0% in the 2nd 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 during the period. Massachusetts Financial Services Co. MA increased its stake in Xcel Energy by 10.3% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 18,719,520 shares of the company's stock valued at $1,274,799,000 after buying an additional 1,746,066 shares during the period. Finally, Invesco Ltd. increased its stake in Xcel Energy by 29.0% in the 2nd quarter. Invesco Ltd. now owns 7,366,422 shares of the company's stock valued at $501,653,000 after buying an additional 1,654,505 shares during the period. Institutional investors and hedge funds 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.