Stock analysts at HSBC initiated coverage on shares of Xcel Energy (NASDAQ:XEL – Get Free Report) in a research report issued on Thursday, Marketbeat.com reports. The brokerage set a “buy” rating and a $89.00 price target on the stock. HSBC’s target price would suggest a potential upside of 15.92% from the company’s previous close.
A number of other brokerages have also issued reports on XEL. Royal Bank Of Canada set a $86.00 target price on Xcel Energy in a research report on Tuesday. Scotiabank started coverage on Xcel Energy in a research note on Tuesday, September 29th. They set a “sector outperform” rating and a $77.00 price objective for the company. Wall Street Zen upgraded Xcel Energy from a “sell” rating to a “hold” rating in a report on Saturday, September 26th. Truist Financial cut their target price on Xcel Energy from $88.00 to $87.00 and set a “buy” rating on the stock in a research report on Wednesday, October 14th. Finally, JPMorgan Chase & Co. increased their target price on Xcel Energy from $91.00 to $102.00 and gave the company an “overweight” rating in a research note on Thursday, July 16th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, Xcel Energy presently has an average rating of “Buy” and a consensus price target of $89.53.
Check Out Our Latest Stock Report on XEL
Xcel Energy Trading Up 0.1%
NASDAQ XEL opened at $76.78 on Thursday. The stock has a market cap of $47.96 billion, a P/E ratio of 21.04, a PEG ratio of 2.55 and a beta of 0.36. The company’s fifty day simple moving average is $74.71 and its 200-day simple moving average is $77.88. The company has a current ratio of 0.70, a quick ratio of 0.62 and a debt-to-equity ratio of 1.49. Xcel Energy has a 52 week low of $68.72 and a 52 week high of $84.23.
Xcel Energy (NASDAQ:XEL – Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The company reported $0.93 earnings per share for the quarter, beating analysts’ consensus estimates of $0.79 by $0.14. Xcel Energy had a net margin of 15.28% and a return on equity of 10.65%. The business had revenue of $3.12 billion during the quarter, compared to analyst estimates of $3.54 billion. During the same period last year, the business earned $1.59 EPS. The business’s revenue was down 5.1% on a year-over-year basis. Equities research analysts predict that Xcel Energy will post 4.13 EPS for the current fiscal year.
Institutional Inflows and Outflows
A number of institutional investors have recently added to or reduced their stakes in the business. Kachkovsky & Fisher Inc. acquired a new stake in shares of Xcel Energy in the 3rd quarter worth approximately $236,000. Axxcess Wealth Management LLC acquired a new position in shares of Xcel Energy during the third quarter valued at approximately $251,000. Sowell Financial Services LLC increased its stake in shares of Xcel Energy by 5.2% during the third quarter. Sowell Financial Services LLC now owns 4,876 shares of the company’s stock valued at $344,000 after acquiring an additional 243 shares during the period. City State Bank raised its holdings in Xcel Energy by 6.8% during the third quarter. City State Bank now owns 2,780 shares of the company’s stock worth $196,000 after purchasing an additional 178 shares in the last quarter. Finally, Pinnacle Associates Ltd. lifted its position in Xcel Energy by 6.0% in the third quarter. Pinnacle Associates Ltd. now owns 3,018 shares of the company’s stock worth $213,000 after purchasing an additional 172 shares during the period. Institutional investors and hedge funds own 78.38% of the company’s stock.
Xcel Energy Company Profile
Xcel Energy Inc is a public utility holding company that provides electricity and natural gas services to residential, commercial, and industrial customers. Its operations include the generation, transmission, distribution, and sale of electricity, as well as the distribution and sale of natural gas.
The company serves customers across Colorado, Michigan, Minnesota, New Mexico, North Dakota, South Dakota, Texas, and Wisconsin through operating companies including Northern States Power, Public Service Company of Colorado, Southwestern Public Service Company, and NSP-Wisconsin.
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