Xcel Energy (NASDAQ:XEL) Price Target Raised to $67.00

Xcel Energy (NASDAQ:XEL) had its price objective increased by UBS Group from $66.00 to $67.00 in a research report report published on Friday morning, Benzinga reports. The firm currently has a neutral rating on the stock.

XEL has been the topic of a number of 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 research note on Monday, August 26th. Morgan Stanley increased their price objective on shares of Xcel Energy from $62.00 to $68.00 and gave the company an equal weight rating in a research note on Friday, August 23rd. Jefferies Financial Group assumed coverage on shares of Xcel Energy in a research note on Thursday. They set a hold rating and a $70.00 price objective on the stock. KeyCorp increased their price objective on shares of Xcel Energy from $65.00 to $66.00 and gave the company an overweight rating in a research note on Monday, September 16th. Finally, Wells Fargo & Company increased their price objective on shares of Xcel Energy from $57.00 to $63.00 and gave the company an equal weight rating in a research note on Friday, August 2nd. Eight investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, Xcel Energy presently has a consensus rating of Hold and an average target price of $63.79.

Xcel Energy Price Performance

Shares of XEL stock opened at $64.13 on Friday. The company has a market capitalization of $35.63 billion, a PE ratio of 19.26, a price-to-earnings-growth ratio of 2.81 and a beta of 0.38. The firm has a fifty day simple moving average of $59.89 and a 200-day simple moving average of $55.96. The company has a current ratio of 0.97, a quick ratio of 0.86 and a debt-to-equity ratio of 1.54. Xcel Energy has a twelve month low of $46.79 and a twelve month high of $64.95.

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

Xcel Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, October 20th. Stockholders of record on Friday, September 13th will be given a $0.548 dividend. This is an increase from Xcel Energy’s previous quarterly dividend of $0.55. This represents a $2.19 dividend on an annualized basis and a dividend yield of 3.42%. The ex-dividend date is Friday, September 13th. Xcel Energy’s dividend payout ratio (DPR) is presently 65.77%.

Institutional Trading of Xcel Energy

A number of large investors have recently modified their holdings of the company. Price T Rowe Associates Inc. MD increased its holdings in shares of Xcel Energy by 770.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,552,625 shares of the company’s stock worth $405,955,000 after acquiring an additional 6,684,499 shares during the period. Mitsubishi UFJ Trust & Banking Corp increased its holdings in shares of Xcel Energy by 1.8% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 4,186,101 shares of the company’s stock worth $223,264,000 after acquiring an additional 74,690 shares during the period. Federated Hermes Inc. increased its holdings in shares of Xcel Energy by 120.2% in the 2nd quarter. Federated Hermes Inc. now owns 2,379,615 shares of the company’s stock worth $127,095,000 after acquiring an additional 1,299,025 shares during the period. American Century Companies Inc. increased its holdings in shares of Xcel Energy by 130.4% in the 2nd quarter. American Century Companies Inc. now owns 2,084,345 shares of the company’s stock worth $111,325,000 after acquiring an additional 1,179,823 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in Xcel Energy by 10.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,854,333 shares of the company’s stock valued at $99,046,000 after buying an additional 174,653 shares during the period. Institutional investors and hedge funds own 78.38% of the company’s stock.

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.