Xcel Energy (NASDAQ:XEL) Sets New 12-Month High Following Analyst Upgrade

Xcel Energy Inc. (NASDAQ:XEL)’s share price hit a new 52-week high on Monday after KeyCorp raised their price target on the stock from $66.00 to $69.00. KeyCorp currently has an overweight rating on the stock. Xcel Energy traded as high as $65.09 and last traded at $64.48, with a volume of 17562 shares trading hands. The stock had previously closed at $64.57.

Several other equities analysts also recently issued reports on the stock. Argus raised 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 objective on Xcel Energy from $57.00 to $63.00 and gave the stock an “equal weight” rating in a report on Friday, August 2nd. UBS Group increased their target price on Xcel Energy from $66.00 to $67.00 and gave the company a “neutral” rating in a report on Friday, September 20th. Jefferies Financial Group assumed coverage on Xcel Energy in a research note on Thursday, September 19th. They issued a “hold” rating and a $70.00 price target on the stock. Finally, Morgan Stanley increased their price objective on Xcel Energy from $68.00 to $73.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 25th. Eight research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $64.36.

Hedge Funds Weigh In On Xcel Energy

Institutional investors and hedge funds have recently bought and sold shares of the company. Heritage Wealth Management Inc. acquired a new stake in Xcel Energy during the second quarter worth $585,000. Sanctuary Advisors LLC acquired a new stake in shares of Xcel Energy during the 2nd quarter worth about $3,472,000. Brown Financial Advisors purchased a new stake in Xcel Energy in the 2nd quarter valued at about $687,000. Cetera Investment Advisers lifted its position in Xcel Energy by 33.8% in the second quarter. Cetera Investment Advisers now owns 143,573 shares of the company’s stock valued at $7,668,000 after buying an additional 36,229 shares during the last quarter. Finally, Advisory Alpha LLC purchased a new position in Xcel Energy during the second quarter worth about $204,000. 78.38% of the stock is currently owned by institutional investors and hedge funds.

Xcel Energy Trading Up 0.2 %

The business’s 50-day simple moving average is $60.82 and its two-hundred day simple moving average is $56.40. The firm has a market capitalization of $35.94 billion, a price-to-earnings ratio of 19.39, a PEG ratio of 2.82 and a beta of 0.38. The company has a quick ratio of 0.86, a current ratio of 0.97 and a debt-to-equity ratio of 1.54.

Xcel Energy (NASDAQ:XEL) last posted 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). Xcel Energy had a net margin of 13.46% and a return on equity of 10.94%. The company had revenue of $3.03 billion during the quarter, compared to analyst estimates of $3.29 billion. During the same quarter last year, the business posted $0.52 EPS. The firm’s revenue for the quarter was up .2% on a year-over-year basis. Equities analysts forecast that Xcel Energy Inc. will post 3.55 earnings per share for the current year.

Xcel Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, October 20th. Investors of record on Friday, September 13th will be paid a dividend of $0.548 per share. This is a positive change from Xcel Energy’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend is Friday, September 13th. This represents a $2.19 annualized dividend and a yield of 3.39%. Xcel Energy’s dividend payout ratio is presently 65.77%.

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.