Morgan Stanley Raises Xcel Energy (NYSE:XEL) Price Target to $60.00

Xcel Energy (NYSE:XEL) had its price target boosted by stock analysts at Morgan Stanley from $57.00 to $60.00 in a report released on Friday, BenzingaRatingsTable reports. The firm currently has an “equal weight” rating on the utilities provider’s stock. Morgan Stanley’s price target points to a potential upside of 0.67% from the stock’s current price.

Other research analysts also recently issued research reports about the stock. Zacks Investment Research downgraded shares of Xcel Energy from a “hold” rating to a “sell” rating in a research note on Friday, May 17th. Wolfe Research set a $57.00 target price on Xcel Energy and gave the company a “hold” rating in a research report on Friday, April 26th. KeyCorp initiated coverage on Xcel Energy in a research report on Tuesday, June 4th. They issued an “overweight” rating and a $62.00 target price on the stock. Finally, Argus raised their target price on Xcel Energy to $64.00 and gave the company a “buy” rating in a research note on Thursday, May 23rd. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $56.38.

Shares of NYSE XEL traded up $0.15 during mid-day trading on Friday, reaching $59.60. The company’s stock had a trading volume of 477,847 shares, compared to its average volume of 3,201,525. Xcel Energy has a 1-year low of $42.15 and a 1-year high of $60.56.

Xcel Energy (NYSE:XEL) last released its quarterly earnings data on Thursday, April 25th. The utilities provider reported $0.61 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.61. The company had revenue of $3.14 billion for the quarter, compared to analyst estimates of $3.11 billion. The firm’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.57 EPS.

In other Xcel Energy news, CFO Robert Frenzel sold 4,400 shares of the business’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $58.60, for a total transaction of $257,840.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Benjamin G. S. Fowke III sold 50,000 shares of the business’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $59.81, for a total transaction of $2,990,500.00. Following the sale, the chief executive officer now directly owns 608,862 shares in the company, valued at approximately $36,416,036.22. The disclosure for this sale can be found here. Insiders have sold a total of 69,400 shares of company stock valued at $4,112,790 in the last quarter. Company insiders own 0.22% of the company’s stock.

A number of large investors have recently made changes to their positions in XEL. Vanguard Group Inc raised its stake in Xcel Energy by 1.5% in the third quarter. Vanguard Group Inc now owns 38,706,426 shares of the utilities provider’s stock worth $1,827,330,000 after buying an additional 578,219 shares in the last quarter. First Mercantile Trust Co. raised its position in shares of Xcel Energy by 72.9% during the 4th quarter. First Mercantile Trust Co. now owns 830 shares of the utilities provider’s stock valued at $41,000 after purchasing an additional 350 shares during the period. Dupont Capital Management Corp raised its position in shares of Xcel Energy by 24.0% during the 4th quarter. Dupont Capital Management Corp now owns 6,699 shares of the utilities provider’s stock valued at $330,000 after purchasing an additional 1,296 shares during the period. BB&T Securities LLC increased its holdings in Xcel Energy by 10.3% in the 4th quarter. BB&T Securities LLC now owns 7,930 shares of the utilities provider’s stock valued at $390,000 after acquiring an additional 739 shares during the last quarter. Finally, Capital Investment Advisory Services LLC bought a new stake in Xcel Energy in the 4th quarter valued at $25,000. Institutional investors own 73.96% of the company’s stock.

Xcel Energy Company Profile

Xcel Energy Inc is a public utility holding company. The Company’s operations include the activity of four utility subsidiaries that serve electric and natural gas customers in eight states. The Company’s segments include regulated electric utility, regulated natural gas utility and all other. The Company’s utility subsidiaries include NSP-Minnesota, NSP-Wisconsin, Public Service Company of Colorado (PSCo) and Southwestern Public Service Co (SPS), which serve customers in portions of Colorado, Michigan, Minnesota, New Mexico, North Dakota, South Dakota, Texas and Wisconsin.

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