Xcel Energy (NASDAQ:XEL) Price Target Raised to $78.00

Xcel Energy (NASDAQ:XEL) had its target price increased by Morgan Stanley from $75.00 to $78.00 in a report issued on Thursday,Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

Other equities research analysts have also issued reports about the company. Wells Fargo & Company raised their price objective on Xcel Energy from $72.00 to $75.00 and gave the stock an “overweight” rating in a research note on Friday, February 7th. Barclays reduced their price objective on Xcel Energy from $71.00 to $69.00 and set an “overweight” rating for the company in a research note on Wednesday, January 22nd. KeyCorp raised their target price on Xcel Energy from $74.00 to $79.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Finally, JPMorgan Chase & Co. raised Xcel Energy from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $69.00 to $80.00 in a research report on Thursday, December 12th. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $72.30.

Xcel Energy Stock Performance

XEL opened at $69.11 on Thursday. The firm has a market cap of $39.71 billion, a PE ratio of 20.09, a P/E/G ratio of 2.62 and a beta of 0.37. The company has a quick ratio of 0.82, a current ratio of 0.93 and a debt-to-equity ratio of 1.42. The business has a fifty day simple moving average of $68.21 and a 200-day simple moving average of $67.05. Xcel Energy has a fifty-two week low of $51.58 and a fifty-two week high of $73.38.

Xcel Energy (NASDAQ:XEL) last released its quarterly earnings data on Thursday, February 6th. The company reported $0.81 earnings per share for the quarter, missing the consensus estimate of $0.87 by ($0.06). Xcel Energy had a return on equity of 10.65% and a net margin of 14.40%. As a group, equities analysts predict that Xcel Energy will post 3.82 EPS for the current fiscal year.

Xcel Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, April 20th. Investors of record on Friday, March 14th will be issued a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 3.30%. This is a positive change from Xcel Energy’s previous quarterly dividend of $0.55. The ex-dividend date is Friday, March 14th. Xcel Energy’s dividend payout ratio (DPR) is currently 66.28%.

Insider Buying and Selling

In other news, Director Devin W. Stockfish acquired 2,170 shares of the business’s stock in a transaction that occurred on Tuesday, March 11th. The stock was acquired at an average cost of $68.93 per share, for a total transaction of $149,578.10. Following the completion of the acquisition, the director now owns 3,007 shares in the company, valued at approximately $207,272.51. The trade was a 259.26 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.09% of the stock is owned by corporate insiders.

Institutional Trading of Xcel Energy

Several hedge funds and other institutional investors have recently modified their holdings of XEL. Bank of America Corp DE raised its holdings in shares of Xcel Energy by 43.6% during the fourth quarter. Bank of America Corp DE now owns 20,762,745 shares of the company’s stock worth $1,401,901,000 after acquiring an additional 6,306,380 shares in the last quarter. FMR LLC raised its holdings in Xcel Energy by 118.3% during the fourth quarter. FMR LLC now owns 6,608,044 shares of the company’s stock valued at $446,175,000 after buying an additional 3,581,436 shares in the last quarter. Zimmer Partners LP raised its holdings in Xcel Energy by 1,625.7% during the fourth quarter. Zimmer Partners LP now owns 3,667,200 shares of the company’s stock valued at $247,609,000 after buying an additional 3,454,700 shares in the last quarter. Pictet Asset Management Holding SA raised its holdings in Xcel Energy by 236.7% during the fourth quarter. Pictet Asset Management Holding SA now owns 4,878,279 shares of the company’s stock valued at $329,381,000 after buying an additional 3,429,353 shares in the last quarter. Finally, Janus Henderson Group PLC raised its holdings in Xcel Energy by 379.3% during the fourth quarter. Janus Henderson Group PLC now owns 4,022,085 shares of the company’s stock valued at $271,578,000 after buying an additional 3,182,939 shares in 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.