Xcel Energy (NASDAQ:XEL) Sees Unusually-High Trading Volume Following Analyst Upgrade

Xcel Energy Inc. (NASDAQ:XEL) shares saw unusually-high trading volume on Monday after KeyCorp raised their price target on the stock from $69.00 to $74.00. KeyCorp currently has an overweight rating on the stock. Approximately 6,789,070 shares changed hands during trading, an increase of 63% from the previous session’s volume of 4,177,051 shares.The stock last traded at $65.36 and had previously closed at $66.69.

A number of other equities research analysts also recently issued reports on XEL. UBS Group increased their price target on Xcel Energy from $66.00 to $67.00 and gave the stock a “neutral” rating in a research report on Friday, September 20th. Barclays raised their price target on Xcel Energy from $57.00 to $67.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. Jefferies Financial Group raised Xcel Energy from a “hold” rating to a “buy” rating and boosted their price target for the company from $71.00 to $76.00 in a research note on Friday, November 1st. Morgan Stanley increased their price objective on shares of Xcel Energy from $68.00 to $73.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 25th. Finally, Wells Fargo & Company boosted their target price on shares of Xcel Energy from $63.00 to $66.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 16th. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $66.38.

Hedge Funds Weigh In On Xcel Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in XEL. Empower Advisory Group LLC grew its position in shares of Xcel Energy by 0.9% in the 3rd quarter. Empower Advisory Group LLC now owns 145,015 shares of the company’s stock valued at $9,469,000 after buying an additional 1,328 shares during the last quarter. Aptus Capital Advisors LLC boosted its holdings in Xcel Energy by 9.5% in the third quarter. Aptus Capital Advisors LLC now owns 11,649 shares of the company’s stock valued at $761,000 after acquiring an additional 1,008 shares during the last quarter. First Heartland Consultants Inc. bought a new stake in Xcel Energy in the third quarter valued at approximately $215,000. Aigen Investment Management LP raised its holdings in Xcel Energy by 384.8% during the 3rd quarter. Aigen Investment Management LP now owns 27,015 shares of the company’s stock worth $1,764,000 after purchasing an additional 21,443 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC lifted its position in shares of Xcel Energy by 301.4% in the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 13,028 shares of the company’s stock worth $851,000 after purchasing an additional 9,782 shares during the period. 78.38% of the stock is currently owned by institutional investors and hedge funds.

Xcel Energy Stock Performance

The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.82 and a current ratio of 0.93. The stock’s 50 day moving average price is $63.80 and its 200 day moving average price is $58.49. The company has a market capitalization of $36.98 billion, a P/E ratio of 19.68, a price-to-earnings-growth ratio of 2.94 and a beta of 0.38.

Xcel Energy (NASDAQ:XEL) last issued its quarterly earnings results on Thursday, October 31st. The company reported $1.25 earnings per share for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.01). Xcel Energy had a return on equity of 10.76% and a net margin of 13.67%. The business had revenue of $3.64 billion for the quarter, compared to analyst estimates of $3.93 billion. During the same quarter in the previous year, the business posted $1.23 earnings per share. The business’s revenue was down .5% on a year-over-year basis. As a group, equities analysts expect that Xcel Energy Inc. will post 3.55 EPS for the current year.

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.