Goldman Sachs Group Begins Coverage on Xcel Energy (NYSE:XEL)

Research analysts at Goldman Sachs Group assumed coverage on shares of Xcel Energy (NYSE:XEL) in a report issued on Sunday, The Fly reports. The brokerage set a “neutral” rating on the utilities provider’s stock.

A number of other equities analysts have also recently weighed in on the stock. Zacks Investment Research raised shares of Xcel Energy from a “sell” rating to a “hold” rating and set a $66.00 price target on the stock in a research report on Monday, August 26th. Morgan Stanley lifted their price target on shares of Xcel Energy from $60.00 to $63.00 and gave the stock an “equal weight” rating in a research report on Friday, September 6th. Mizuho lifted their price target on shares of Xcel Energy from $50.00 to $64.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. UBS Group lifted their price target on shares of Xcel Energy from $63.00 to $66.00 and gave the stock a “neutral” rating in a research report on Friday, September 6th. Finally, SunTrust Banks set a $63.00 price target on shares of Xcel Energy and gave the stock a “hold” rating in a research report on Tuesday, September 3rd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $64.20.

Shares of NYSE XEL traded up $0.90 during mid-day trading on Friday, hitting $62.26. 2,711,396 shares of the stock were exchanged, compared to its average volume of 3,229,408. The stock’s fifty day simple moving average is $61.72 and its two-hundred day simple moving average is $61.81. Xcel Energy has a twelve month low of $47.70 and a twelve month high of $66.05.

Xcel Energy (NYSE:XEL) last issued its quarterly earnings results on Thursday, October 24th. The utilities provider reported $1.01 earnings per share for the quarter, missing analysts’ consensus estimates of $1.03 by ($0.02). The company had revenue of $3.01 billion for the quarter, compared to analyst estimates of $3.55 billion. During the same period in the prior year, the company posted $0.96 earnings per share. Xcel Energy’s quarterly revenue was down 1.1% compared to the same quarter last year.

Hedge funds and other institutional investors have recently made changes to their positions in the company. CIBC Private Wealth Group LLC lifted its stake in Xcel Energy by 21.3% in the 2nd quarter. CIBC Private Wealth Group LLC now owns 33,609 shares of the utilities provider’s stock valued at $2,000,000 after purchasing an additional 5,894 shares during the last quarter. Advisory Services Network LLC increased its stake in shares of Xcel Energy by 8.9% in the second quarter. Advisory Services Network LLC now owns 5,577 shares of the utilities provider’s stock worth $332,000 after purchasing an additional 457 shares in the last quarter. DekaBank Deutsche Girozentrale increased its stake in shares of Xcel Energy by 21.5% in the second quarter. DekaBank Deutsche Girozentrale now owns 75,011 shares of the utilities provider’s stock worth $4,542,000 after purchasing an additional 13,272 shares in the last quarter. Stephens Inc. AR grew its stake in Xcel Energy by 2.2% during the second quarter. Stephens Inc. AR now owns 30,415 shares of the utilities provider’s stock valued at $1,809,000 after acquiring an additional 652 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its stake in Xcel Energy by 10.6% during the second quarter. Envestnet Asset Management Inc. now owns 198,978 shares of the utilities provider’s stock valued at $11,837,000 after acquiring an additional 19,007 shares in the last quarter. 73.96% of the stock is currently owned by institutional investors.

About Xcel Energy

Xcel Energy Inc is a public utility holding company. The Company’s operations include the activity of four utility subsidiaries that serve electric and natural gas customers in eight states. The Company’s segments include regulated electric utility, regulated natural gas utility and all other. The Company’s utility subsidiaries include NSP-Minnesota, NSP-Wisconsin, Public Service Company of Colorado (PSCo) and Southwestern Public Service Co (SPS), which serve customers in portions of Colorado, Michigan, Minnesota, New Mexico, North Dakota, South Dakota, Texas and Wisconsin.

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Analyst Recommendations for Xcel Energy (NYSE:XEL)

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