KeyCorp Raises Xcel Energy (NASDAQ:XEL) Price Target to $66.00

Xcel Energy (NASDAQ:XEL) had its target price boosted by KeyCorp from $65.00 to $66.00 in a report published on Monday, Benzinga reports. They currently have an overweight rating on the stock.

XEL has been the topic of several other reports. Argus upgraded shares of Xcel Energy from a hold rating to a buy rating and set a $68.00 price objective on the stock in a report on Monday, August 26th. Wells Fargo & Company lifted their price target on shares of Xcel Energy from $57.00 to $63.00 and gave the company an equal weight rating in a research report on Friday, August 2nd. Finally, Morgan Stanley upped their price objective on shares of Xcel Energy from $62.00 to $68.00 and gave the stock an equal weight rating in a report on Friday, August 23rd. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus target price of $63.54.

Xcel Energy Price Performance

XEL stock opened at $64.06 on Monday. Xcel Energy has a 1 year low of $46.79 and a 1 year high of $64.95. The company has a debt-to-equity ratio of 1.54, a current ratio of 0.97 and a quick ratio of 0.86. The firm has a market capitalization of $35.59 billion, a PE ratio of 19.24, a price-to-earnings-growth ratio of 2.81 and a beta of 0.38. The business has a 50 day simple moving average of $59.69 and a 200-day simple moving average of $55.76.

Xcel Energy (NASDAQ:XEL) last issued its earnings results on Thursday, August 1st. The company reported $0.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.03). Xcel Energy had a return on equity of 10.94% and a net margin of 13.46%. The company had revenue of $3.03 billion during the quarter, compared to analyst estimates of $3.29 billion. During the same period last year, the business earned $0.52 earnings per share. The firm’s revenue was up .2% compared to the same quarter last year. Equities research analysts anticipate that Xcel Energy will post 3.55 earnings per share for the current fiscal year.

Xcel Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, October 20th. Shareholders of record on Friday, September 13th will be issued a dividend of $0.548 per share. This is an increase from Xcel Energy’s previous quarterly dividend of $0.55. The ex-dividend date is Friday, September 13th. This represents a $2.19 annualized dividend and a yield of 3.42%. Xcel Energy’s dividend payout ratio is 65.77%.

Institutional Trading of Xcel Energy

A number of large investors have recently made changes to their positions in the company. Gateway Wealth Partners LLC increased its holdings in Xcel Energy by 4.3% in the second quarter. Gateway Wealth Partners LLC now owns 4,413 shares of the company’s stock valued at $236,000 after buying an additional 182 shares during the last quarter. Epiq Partners LLC increased its holdings in shares of Xcel Energy by 0.7% in the 1st quarter. Epiq Partners LLC now owns 29,072 shares of the company’s stock valued at $1,563,000 after acquiring an additional 202 shares during the last quarter. Avantax Advisory Services Inc. raised its position in shares of Xcel Energy by 1.3% during the 1st quarter. Avantax Advisory Services Inc. now owns 16,054 shares of the company’s stock worth $863,000 after acquiring an additional 212 shares in the last quarter. Chicago Partners Investment Group LLC raised its position in shares of Xcel Energy by 3.7% during the 4th quarter. Chicago Partners Investment Group LLC now owns 6,249 shares of the company’s stock worth $364,000 after acquiring an additional 222 shares in the last quarter. Finally, Bailard Inc. lifted its stake in Xcel Energy by 2.0% during the second quarter. Bailard Inc. now owns 12,074 shares of the company’s stock worth $645,000 after purchasing an additional 242 shares during the last quarter. 78.38% of the stock is currently owned by hedge funds and other institutional investors.

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.