Xcel Energy (NASDAQ:XEL) Upgraded by TD Cowen to Strong-Buy Rating

Key Points

• Xcel Energy was recently upgraded to a strong-buy rating by TD Cowen, highlighting positive sentiment from analysts regarding the company's stock performance.
• Multiple analysts have increased their price targets for Xcel Energy, with Bank of America setting a new target of $84.00 while BMO Capital Markets raised theirs to $87.00, reflecting a favorable outlook.
• In its latest earnings report, Xcel Energy beat consensus estimates, posting an EPS of $0.75, and has set its FY 2025 guidance at $3.750-3.850 EPS.

Xcel Energy (NASDAQ:XEL - Get Free Report) was upgraded by equities research analysts at TD Cowen to a "strong-buy" rating in a research note issued to investors on Wednesday,Zacks.com reports.

Several other analysts have also issued reports on XEL. Bank of America lifted their target price on shares of Xcel Energy from $78.00 to $84.00 and gave the company a "buy" rating in a research report on Thursday, September 25th. KeyCorp boosted their price target on shares of Xcel Energy from $79.00 to $85.00 and gave the stock an "overweight" rating in a research report on Wednesday. Morgan Stanley lowered their price target on shares of Xcel Energy from $81.00 to $80.00 and set an "equal weight" rating on the stock in a research report on Thursday, September 25th. BMO Capital Markets boosted their price target on shares of Xcel Energy from $84.00 to $87.00 and gave the stock an "outperform" rating in a research report on Wednesday. Finally, Mizuho set a $83.00 price target on shares of Xcel Energy in a research report on Thursday, September 25th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $84.92.

Xcel Energy Stock Down 0.9%

Shares of NASDAQ XEL opened at $81.10 on Wednesday. The company's 50-day simple moving average is $75.24 and its 200-day simple moving average is $71.61. Xcel Energy has a 52-week low of $62.58 and a 52-week high of $83.01. The firm has a market cap of $47.96 billion, a price-to-earnings ratio of 22.47, a price-to-earnings-growth ratio of 2.89 and a beta of 0.37. The company has a quick ratio of 0.85, a current ratio of 0.96 and a debt-to-equity ratio of 1.48.

Xcel Energy (NASDAQ:XEL - Get Free Report) last announced 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 net margin of 14.85% and a return on equity of 10.52%. The business had revenue of $3.29 billion for the quarter, compared to analyst estimates of $3.31 billion. During the same quarter last year, the business earned $0.54 earnings per share. The company'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. Equities analysts predict that Xcel Energy will post 3.82 EPS for the current fiscal year.

Hedge Funds Weigh In On Xcel Energy

Several institutional investors and hedge funds have recently bought and sold shares of XEL. Brighton Jones LLC acquired a new position in Xcel Energy in the 4th quarter valued at about $240,000. Wealth Enhancement Advisory Services LLC boosted its holdings in Xcel Energy by 18.3% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 472,344 shares of the company's stock valued at $33,437,000 after purchasing an additional 73,036 shares during the last quarter. Janney Montgomery Scott LLC boosted its holdings in Xcel Energy by 2.5% in the 1st quarter. Janney Montgomery Scott LLC now owns 137,451 shares of the company's stock valued at $9,730,000 after purchasing an additional 3,344 shares during the last quarter. Sowell Financial Services LLC acquired a new position in Xcel Energy in the 1st quarter valued at about $353,000. Finally, CWA Asset Management Group LLC boosted its holdings in Xcel Energy by 17.2% in the 1st quarter. CWA Asset Management Group LLC now owns 12,576 shares of the company's stock valued at $890,000 after purchasing an additional 1,850 shares during 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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