Xcel Energy (NASDAQ:XEL) Upgraded by Wells Fargo & Company to “Overweight” Rating

Xcel Energy (NASDAQ:XEL) was upgraded by equities researchers at Wells Fargo & Company from an “equal weight” rating to an “overweight” rating in a report issued on Monday, MarketBeat reports. The brokerage currently has a $72.00 price objective on the stock, up from their prior price objective of $70.00. Wells Fargo & Company‘s price objective indicates a potential upside of 12.36% from the company’s current price.

Several other research firms have also commented on XEL. Morgan Stanley dropped their price target on Xcel Energy from $74.00 to $72.00 and set an “equal weight” rating for the company in a research report on Friday, November 22nd. JPMorgan Chase & Co. upgraded Xcel Energy from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $69.00 to $80.00 in a report on Thursday, December 12th. UBS Group increased their price target on Xcel Energy from $66.00 to $67.00 and gave the company a “neutral” rating in a report on Friday, September 20th. Jefferies Financial Group raised shares of Xcel Energy from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $71.00 to $76.00 in a research note on Friday, November 1st. Finally, 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. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $69.67.

Xcel Energy Stock Performance

XEL opened at $64.08 on Monday. 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 has a market capitalization of $36.80 billion, a price-to-earnings ratio of 19.01, a PEG ratio of 2.79 and a beta of 0.42. The company has a fifty day moving average of $68.45 and a 200 day moving average of $63.38. Xcel Energy has a fifty-two week low of $46.79 and a fifty-two week high of $73.38.

Xcel Energy (NASDAQ:XEL) last announced its quarterly earnings results on Thursday, October 31st. The company reported $1.25 EPS for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.01). Xcel Energy had a net margin of 13.67% and a return on equity of 10.76%. The firm had revenue of $3.64 billion for the quarter, compared to the consensus estimate of $3.93 billion. During the same period in the previous year, the company posted $1.23 earnings per share. Xcel Energy’s quarterly revenue was down .5% on a year-over-year basis. As a group, sell-side analysts forecast that Xcel Energy will post 3.54 earnings per share for the current fiscal year.

Institutional Trading of Xcel Energy

A number of hedge funds have recently added to or reduced their stakes in the business. Ashton Thomas Securities LLC bought a new stake in shares of Xcel Energy in the 3rd quarter valued at about $25,000. Transcendent Capital Group LLC bought a new position in Xcel Energy in the third quarter worth approximately $33,000. Kimelman & Baird LLC purchased a new stake in Xcel Energy during the second quarter worth $35,000. West Financial Advisors LLC bought a new stake in Xcel Energy during the 3rd quarter valued at $43,000. Finally, First Financial Corp IN bought a new position in shares of Xcel Energy in the 4th quarter worth $46,000. 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.