KeyCorp Forecasts Strong Price Appreciation for Xcel Energy (NASDAQ:XEL) Stock

Xcel Energy (NASDAQ:XEL) had its target price hoisted by equities researchers at KeyCorp from $69.00 to $74.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm currently has an “overweight” rating on the stock. KeyCorp’s price target would suggest a potential upside of 10.96% from the company’s current price.

Several other research firms have also recently commented on XEL. Jefferies Financial Group upgraded shares of Xcel Energy from a “hold” rating to a “buy” rating and boosted their price target for the stock from $71.00 to $76.00 in a report on Friday. Argus raised shares of Xcel Energy from a “hold” rating to a “buy” rating and set a $68.00 target price for the company in a report on Monday, August 26th. UBS Group upped their price target on shares of Xcel Energy from $66.00 to $67.00 and gave the stock a “neutral” rating in a research note on Friday, September 20th. Morgan Stanley upped their price target on Xcel Energy from $68.00 to $73.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 25th. Finally, Wells Fargo & Company boosted their price target on Xcel Energy from $63.00 to $66.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 16th. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $66.38.

Xcel Energy Price Performance

NASDAQ:XEL opened at $66.69 on Friday. Xcel Energy has a 52 week low of $46.79 and a 52 week high of $68.36. The stock’s fifty day moving average is $63.61 and its two-hundred day moving average is $58.29. The company has a market capitalization of $37.18 billion, a P/E ratio of 19.79, a P/E/G ratio of 2.94 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 issued its quarterly earnings results on Thursday, October 31st. The company reported $1.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.31 by ($0.06). The business had revenue of $3.64 billion for the quarter, compared to analysts’ expectations of $3.93 billion. Xcel Energy had a return on equity of 10.99% and a net margin of 13.67%. The firm’s revenue for the quarter was down .5% on a year-over-year basis. During the same quarter last year, the company earned $1.23 earnings per share. Equities analysts expect that Xcel Energy will post 3.55 EPS for the current year.

Hedge Funds Weigh In On Xcel Energy

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD lifted its position in shares of Xcel Energy by 770.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 7,552,625 shares of the company’s stock worth $405,955,000 after purchasing an additional 6,684,499 shares in the last quarter. Jupiter Asset Management Ltd. purchased a new stake in Xcel Energy during the 1st quarter worth $80,283,000. Federated Hermes Inc. grew its stake in shares of Xcel Energy by 120.2% during the second quarter. Federated Hermes Inc. now owns 2,379,615 shares of the company’s stock valued at $127,095,000 after acquiring an additional 1,299,025 shares in the last quarter. American Century Companies Inc. increased its position in shares of Xcel Energy by 130.4% during the second 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 last quarter. Finally, Zimmer Partners LP increased its position in shares of Xcel Energy by 1,765.0% during the first quarter. Zimmer Partners LP now owns 932,505 shares of the company’s stock worth $50,122,000 after acquiring an additional 882,505 shares during the last quarter. Hedge funds and other institutional investors 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.