Xcel Energy (NYSE:XEL) PT Raised to $64.00 at Mizuho

Xcel Energy (NYSE:XEL) had its target price hoisted by investment analysts at Mizuho from $50.00 to $64.00 in a research note issued to investors on Thursday, BenzingaRatingsTable reports. The brokerage currently has a “neutral” rating on the utilities provider’s stock. Mizuho’s price objective indicates a potential upside of 1.06% from the company’s previous close.

A number of other research analysts have also commented on the company. SunTrust Banks set a $63.00 price target on Xcel Energy and gave the stock a “hold” rating in a report on Tuesday, September 3rd. Bank of America lowered Xcel Energy from a “neutral” rating to an “underperform” rating and set a $62.00 price target for the company. in a report on Monday, September 30th. UBS Group upped their price target on Xcel Energy from $63.00 to $66.00 and gave the stock a “neutral” rating in a report on Friday, September 6th. Barclays lowered Xcel Energy from an “overweight” rating to an “equal weight” rating and set a $64.00 price target for the company. in a report on Tuesday, August 13th. They noted that the move was a valuation call. Finally, Morgan Stanley upped their price target on Xcel Energy from $60.00 to $63.00 and gave the stock an “equal weight” rating in a report on Friday, September 6th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $63.10.

Shares of XEL stock opened at $63.33 on Thursday. Xcel Energy has a 12 month low of $47.07 and a 12 month high of $66.05. The stock has a 50 day moving average of $64.13 and a 200-day moving average of $60.03.

Xcel Energy (NYSE:XEL) last issued its quarterly earnings results on Thursday, August 1st. The utilities provider reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.07). The firm had revenue of $2.58 billion during the quarter, compared to the consensus estimate of $2.84 billion. During the same period in the previous year, the business posted $0.52 EPS. The firm’s revenue was down 3.0% on a year-over-year basis.

In related news, EVP Scott M. Wilensky sold 15,000 shares of the company’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $61.71, for a total value of $925,650.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Christopher B. Clark sold 2,500 shares of the company’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $62.38, for a total value of $155,950.00. Following the completion of the transaction, the insider now owns 16,560 shares of the company’s stock, valued at $1,033,012.80. The disclosure for this sale can be found here. Insiders sold 49,382 shares of company stock valued at $3,133,045 over the last 90 days. 0.22% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently modified their holdings of XEL. Magellan Asset Management Ltd raised its stake in shares of Xcel Energy by 233.3% in the second quarter. Magellan Asset Management Ltd now owns 11,720,869 shares of the utilities provider’s stock valued at $697,274,000 after purchasing an additional 8,204,411 shares in the last quarter. Scout Investments Inc. raised its stake in shares of Xcel Energy by 196.1% in the second quarter. Scout Investments Inc. now owns 1,967,843 shares of the utilities provider’s stock valued at $117,067,000 after purchasing an additional 1,303,156 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Xcel Energy by 2.3% in the second quarter. JPMorgan Chase & Co. now owns 40,037,447 shares of the utilities provider’s stock valued at $2,373,420,000 after purchasing an additional 918,607 shares in the last quarter. Carillon Tower Advisers Inc. raised its stake in shares of Xcel Energy by 202.6% in the second quarter. Carillon Tower Advisers Inc. now owns 1,349,000 shares of the utilities provider’s stock valued at $80,252,000 after purchasing an additional 903,125 shares in the last quarter. Finally, California Public Employees Retirement System raised its stake in shares of Xcel Energy by 18.2% in the second quarter. California Public Employees Retirement System now owns 3,940,117 shares of the utilities provider’s stock valued at $234,398,000 after purchasing an additional 608,069 shares in the last quarter. Institutional investors and hedge funds own 73.96% of the company’s stock.

About Xcel Energy

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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