Xcel Energy (NASDAQ:XEL) Upgraded by Truist Financial to Strong-Buy Rating

Xcel Energy (NASDAQ:XEL) was upgraded by Truist Financial to a “strong-buy” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

Other equities research analysts also recently issued research reports about the company. Barclays lifted their price objective on Xcel Energy from $82.00 to $91.00 and gave the company an “overweight” rating in a research report on Monday. Argus set a $86.00 price objective on Xcel Energy in a research report on Thursday, March 12th. KeyCorp lifted their price objective on Xcel Energy from $89.00 to $90.00 and gave the company an “overweight” rating in a research report on Tuesday. BMO Capital Markets reaffirmed an “outperform” rating and issued a $90.00 price objective on shares of Xcel Energy in a research report on Friday, February 6th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $95.00 price objective on shares of Xcel Energy in a research report on Friday, January 23rd. Four investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $89.88.

Xcel Energy Price Performance

Shares of NASDAQ:XEL opened at $79.08 on Monday. The business’s fifty day moving average price is $80.78 and its two-hundred day moving average price is $78.78. The stock has a market cap of $49.36 billion, a PE ratio of 23.12, a price-to-earnings-growth ratio of 2.20 and a beta of 0.43. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.60 and a current ratio of 0.71. Xcel Energy has a one year low of $65.21 and a one year high of $84.23.

Xcel Energy (NASDAQ:XEL) last posted its quarterly earnings data on Wednesday, February 4th. The company reported $0.96 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.96. The business had revenue of $3.56 billion for the quarter, compared to analysts’ expectations of $3.77 billion. Xcel Energy had a return on equity of 10.46% and a net margin of 13.76%.The business’s revenue was up 14.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.81 earnings per share. On average, analysts forecast that Xcel Energy will post 4.11 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in XEL. ORG Partners LLC boosted its holdings in Xcel Energy by 168.4% in the third quarter. ORG Partners LLC now owns 314 shares of the company’s stock valued at $25,000 after acquiring an additional 197 shares during the last quarter. Vermillion & White Wealth Management Group LLC acquired a new position in Xcel Energy in the third quarter valued at $27,000. Abound Wealth Management boosted its holdings in Xcel Energy by 394.5% in the fourth quarter. Abound Wealth Management now owns 361 shares of the company’s stock valued at $27,000 after acquiring an additional 288 shares during the last quarter. Garton & Associates Financial Advisors LLC acquired a new position in Xcel Energy in the fourth quarter valued at $30,000. Finally, First Command Advisory Services Inc. acquired a new position in Xcel Energy in the third quarter valued at $32,000. Institutional investors and hedge funds own 78.38% of the company’s stock.

Xcel Energy Company Profile

Xcel Energy (NASDAQ: XEL) is a Minneapolis-based, publicly traded utility holding company that develops, owns and operates regulated electricity and natural gas delivery systems. The company’s core activities include generation, transmission and distribution of electricity, the delivery of natural gas to customers, and related customer service operations. Xcel provides a mix of utility services to residential, commercial and industrial customers and participates in wholesale energy markets where appropriate.

Its generation portfolio combines nuclear, natural gas, coal and a growing share of renewable resources such as wind and solar.