Xcel Energy (NASDAQ:XEL) Upgraded at Weiss Ratings

Weiss Ratings upgraded shares of Xcel Energy (NASDAQ:XEL) from a hold (c+) rating to a buy (b-) rating in a research note released on Friday morning,Weiss Ratings reports.

A number of other analysts have also weighed in on the stock. Bank of America increased their target price on shares of Xcel Energy from $78.00 to $84.00 and gave the stock a “buy” rating in a report on Thursday, September 25th. BMO Capital Markets increased their target price on shares of Xcel Energy from $84.00 to $87.00 and gave the stock an “outperform” rating in a report on Wednesday, October 15th. KeyCorp increased their target price on shares of Xcel Energy from $79.00 to $85.00 and gave the stock an “overweight” rating in a report on Wednesday, October 15th. Mizuho set a $83.00 target price on shares of Xcel Energy in a report on Thursday, September 25th. Finally, Morgan Stanley set a $86.00 target price on shares of Xcel Energy and gave the stock an “outperform” rating in a report on Wednesday. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $86.23.

Xcel Energy Stock Performance

NASDAQ XEL opened at $80.39 on Friday. The company has a 50-day simple moving average of $76.22 and a two-hundred day simple moving average of $72.14. The company has a quick ratio of 0.85, a current ratio of 0.96 and a debt-to-equity ratio of 1.48. Xcel Energy has a 12-month low of $62.58 and a 12-month high of $83.01. The firm has a market cap of $47.54 billion, a price-to-earnings ratio of 22.27, a PEG ratio of 2.83 and a beta of 0.37.

Xcel Energy (NASDAQ:XEL) last posted its quarterly earnings results on Thursday, July 31st. The company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.09. The business had revenue of $3.29 billion during the quarter, compared to analyst estimates of $3.31 billion. Xcel Energy had a net margin of 14.85% and a return on equity of 10.52%. The company’s revenue was up 8.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.54 earnings per share. Xcel Energy has set its FY 2025 guidance at 3.750-3.850 EPS. On average, equities analysts forecast that Xcel Energy will post 3.82 EPS for the current year.

Xcel Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, October 20th. Investors of record on Monday, September 15th were paid a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend was Monday, September 15th. Xcel Energy’s dividend payout ratio is presently 63.16%.

Institutional Investors Weigh In On Xcel Energy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. MGO One Seven LLC grew its stake in Xcel Energy by 119.1% in the third quarter. MGO One Seven LLC now owns 8,785 shares of the company’s stock worth $709,000 after purchasing an additional 4,776 shares during the period. Meeder Asset Management Inc. bought a new position in shares of Xcel Energy during the third quarter valued at approximately $6,910,000. Citizens Financial Group Inc. RI increased its stake in shares of Xcel Energy by 56.1% during the third quarter. Citizens Financial Group Inc. RI now owns 11,059 shares of the company’s stock valued at $892,000 after purchasing an additional 3,975 shares in the last quarter. Tema Etfs LLC increased its stake in shares of Xcel Energy by 44.1% during the third quarter. Tema Etfs LLC now owns 54,494 shares of the company’s stock valued at $4,395,000 after purchasing an additional 16,681 shares in the last quarter. Finally, Corundum Group Inc. increased its stake in shares of Xcel Energy by 2.3% during the third quarter. Corundum Group Inc. now owns 7,083 shares of the company’s stock valued at $571,000 after purchasing an additional 161 shares in the last quarter. 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.