Xcel Energy (NASDAQ:XEL) Hits New 1-Year High on Analyst Upgrade

Xcel Energy Inc. (NASDAQ:XEL)’s stock price hit a new 52-week high during trading 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 traded. The stock had previously closed at $64.57.

A number of other brokerages have also recently weighed in on XEL. Jefferies Financial Group initiated coverage on shares of Xcel Energy in a research report on Thursday, September 19th. They set a “hold” rating and a $70.00 price target on the stock. UBS Group raised their price objective on Xcel Energy from $66.00 to $67.00 and gave the company a “neutral” rating in a research report on Friday, September 20th. Morgan Stanley increased their target price 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. Wells Fargo & Company boosted their target price on shares of Xcel Energy from $57.00 to $63.00 and gave the stock an “equal weight” rating in a research report on Friday, August 2nd. Finally, Argus raised shares of Xcel Energy from a “hold” rating to a “buy” rating and set a $68.00 price target for the company in a report on Monday, August 26th. Eight 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 stock has a consensus rating of “Hold” and an average price target of $64.36.

Institutional Investors Weigh In On Xcel Energy

Institutional investors and hedge funds have recently bought and sold shares of the business. TruNorth Capital Management LLC acquired a new stake in shares of Xcel Energy during the 2nd quarter worth approximately $30,000. American National Bank bought a new position in shares of Xcel Energy during the second quarter worth about $32,000. Quarry LP bought a new position in shares of Xcel Energy during the fourth quarter worth about $34,000. Kimelman & Baird LLC acquired a new stake in shares of Xcel Energy in the 2nd quarter worth about $35,000. Finally, Rothschild Investment LLC bought a new stake in Xcel Energy in the 2nd quarter valued at about $37,000. Institutional investors and hedge funds own 78.38% of the company’s stock.

Xcel Energy Price Performance

The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.86 and a current ratio of 0.97. The stock has a market capitalization of $36.29 billion, a price-to-earnings ratio of 19.62, a price-to-earnings-growth ratio of 2.82 and a beta of 0.38. The business’s 50 day simple moving average is $61.22 and its 200-day simple moving average is $56.59.

Xcel Energy (NASDAQ:XEL) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.03). The business had revenue of $3.03 billion during the quarter, compared to the consensus estimate of $3.29 billion. Xcel Energy had a return on equity of 10.94% and a net margin of 13.46%. The business’s quarterly revenue was up .2% compared to the same quarter last year. During the same period last year, the company earned $0.52 earnings per share. Research analysts anticipate that Xcel Energy Inc. will post 3.55 earnings per share for the current year.

Xcel Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, October 20th. Shareholders of record on Friday, September 13th will be paid a dividend of $0.548 per share. This is a boost from Xcel Energy’s previous quarterly dividend of $0.55. The ex-dividend date is Friday, September 13th. This represents a $2.19 annualized dividend and a yield of 3.36%. Xcel Energy’s dividend payout ratio (DPR) is presently 65.77%.

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.