UBS Group Boosts Xcel Energy (NASDAQ:XEL) Price Target to $67.00

Xcel Energy (NASDAQ:XEL) had its price objective raised by UBS Group from $66.00 to $67.00 in a research report report published on Friday morning, Benzinga reports. The firm currently has a neutral rating on the stock.

Several other equities analysts have also issued reports on the company. KeyCorp lifted their target price on Xcel Energy from $65.00 to $66.00 and gave the company an overweight rating in a research note on Monday, September 16th. Wells Fargo & Company increased their price objective on Xcel Energy from $57.00 to $63.00 and gave the company an equal weight rating in a report on Friday, August 2nd. Morgan Stanley raised their price objective on Xcel Energy from $62.00 to $68.00 and gave the stock an equal weight rating in a research report on Friday, August 23rd. Jefferies Financial Group initiated coverage on Xcel Energy in a research report on Thursday. They set a hold rating and a $70.00 target price on the stock. Finally, Argus raised 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 investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of Hold and an average target price of $63.79.

Xcel Energy Stock Performance

XEL stock opened at $64.13 on Friday. Xcel Energy has a 1-year low of $46.79 and a 1-year high of $64.95. The business has a 50-day moving average price of $59.89 and a 200 day moving average price of $55.85. The company has a market capitalization of $35.63 billion, a P/E ratio of 19.26, a PEG ratio of 2.81 and a beta of 0.38. The company has a debt-to-equity ratio of 1.54, a current ratio of 0.97 and a quick ratio of 0.86.

Xcel Energy (NASDAQ:XEL) last posted its earnings results on Thursday, August 1st. The company reported $0.54 EPS for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.03). Xcel Energy had a net margin of 13.46% and a return on equity of 10.94%. The business had revenue of $3.03 billion for the quarter, compared to analysts’ expectations of $3.29 billion. During the same period last year, the business posted $0.52 EPS. The company’s revenue for the quarter was up .2% on a year-over-year basis. As a group, equities research analysts forecast that Xcel Energy will post 3.55 EPS for the current fiscal year.

Xcel Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, October 20th. Shareholders of record on Friday, September 13th will be given a dividend of $0.548 per share. The ex-dividend date is Friday, September 13th. This is a positive change from Xcel Energy’s previous quarterly dividend of $0.55. This represents a $2.19 dividend on an annualized basis and a yield of 3.42%. Xcel Energy’s dividend payout ratio (DPR) is currently 65.77%.

Institutional Trading of Xcel Energy

Large investors have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD boosted its stake in shares of Xcel Energy by 770.0% in 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 buying an additional 6,684,499 shares during the last quarter. Jupiter Asset Management Ltd. purchased a new position in Xcel Energy during the first quarter valued at approximately $80,283,000. Federated Hermes Inc. lifted its holdings in Xcel Energy by 120.2% in 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 during the period. American Century Companies Inc. boosted its position in Xcel Energy by 130.4% in the 2nd quarter. American Century Companies Inc. now owns 2,084,345 shares of the company’s stock worth $111,325,000 after purchasing an additional 1,179,823 shares in the last quarter. Finally, Zimmer Partners LP grew its stake in shares of Xcel Energy by 1,765.0% during the 1st quarter. Zimmer Partners LP now owns 932,505 shares of the company’s stock worth $50,122,000 after purchasing an additional 882,505 shares during the period. 78.38% of the stock is owned by hedge funds and other institutional investors.

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.