Xcel Energy (NASDAQ:XEL) Upgraded to “Overweight” at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of Xcel Energy (NASDAQ:XEL) from a neutral rating to an overweight rating in a research report sent to investors on Thursday, MarketBeat reports. They currently have $80.00 price target on the stock, up from their previous price target of $69.00.

A number of other equities research analysts have also commented on the company. Argus upgraded Xcel Energy from a “hold” rating to a “buy” rating and set a $68.00 target price on the stock in a research report on Monday, August 26th. KeyCorp upped their price objective on shares of Xcel Energy from $74.00 to $79.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Barclays raised their target price on shares of Xcel Energy from $67.00 to $71.00 and gave the stock an “overweight” rating in a report on Tuesday, November 26th. UBS Group boosted their target price on shares of Xcel Energy from $66.00 to $67.00 and gave the company a “neutral” rating in a research report on Friday, September 20th. Finally, Wells Fargo & Company increased their price target on Xcel Energy from $63.00 to $66.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 16th. Six investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $68.62.

Xcel Energy Trading Down 0.5 %

NASDAQ:XEL opened at $68.12 on Thursday. The company has a market capitalization of $39.12 billion, a P/E ratio of 20.21, a PEG ratio of 2.80 and a beta of 0.41. The company has a current ratio of 0.93, a quick ratio of 0.82 and a debt-to-equity ratio of 1.42. Xcel Energy has a 12 month low of $46.79 and a 12 month high of $73.38. The firm has a fifty day simple moving average of $67.27 and a 200-day simple moving average of $61.40.

Xcel Energy (NASDAQ:XEL) last issued its earnings results on Thursday, October 31st. The company reported $1.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.01). The firm had revenue of $3.64 billion during the quarter, compared to analysts’ expectations of $3.93 billion. Xcel Energy had a return on equity of 10.76% and a net margin of 13.67%. The business’s revenue was down .5% on a year-over-year basis. During the same quarter last year, the business earned $1.23 EPS. On average, equities research analysts anticipate that Xcel Energy will post 3.54 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. State Street Corp lifted its stake in Xcel Energy by 6.7% in the 3rd quarter. State Street Corp now owns 37,143,025 shares of the company’s stock valued at $2,445,477,000 after buying an additional 2,323,448 shares in the last quarter. Brookfield Corp ON boosted its stake in shares of Xcel Energy by 520.1% in the third quarter. Brookfield Corp ON now owns 2,509,031 shares of the company’s stock worth $163,840,000 after acquiring an additional 2,104,405 shares during the last quarter. Federated Hermes Inc. boosted its stake in shares of Xcel Energy by 120.2% in the second quarter. Federated Hermes Inc. now owns 2,379,615 shares of the company’s stock worth $127,095,000 after acquiring an additional 1,299,025 shares during 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 purchasing an additional 1,179,823 shares in the last quarter. Finally, Merewether Investment Management LP acquired a new position in Xcel Energy in the 3rd quarter valued at $64,301,000. Hedge funds and other institutional investors own 78.38% of the company’s stock.

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.