Xcel Energy Inc. (NASDAQ:XEL) Stock Now Rated “Buy” by Wall Street Analysts

Shares of Xcel Energy Inc. (NASDAQ:XEL) have been assigned an average recommendation of “Buy” from the seventeen research firms that are presently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and three have assigned a strong buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $91.65.

XEL has been the subject of a number of recent research reports. Barclays upped their target price on Xcel Energy from $87.00 to $90.00 and gave the stock an “overweight” rating in a report on Thursday, July 9th. Weiss Ratings upgraded Xcel Energy from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday. BMO Capital Markets reduced their price target on Xcel Energy from $95.00 to $92.00 and set an “outperform” rating on the stock in a report on Wednesday, July 22nd. Truist Financial lowered their price objective on Xcel Energy from $94.00 to $88.00 and set a “buy” rating for the company in a research note on Thursday, August 13th. Finally, BTIG Research reiterated a “buy” rating and issued a $99.00 price objective on shares of Xcel Energy in a report on Friday, July 31st.

Xcel Energy Stock Performance

NASDAQ XEL opened at $71.49 on Tuesday. The firm’s fifty day moving average price is $75.50 and its two-hundred day moving average price is $78.21. The stock has a market cap of $44.65 billion, a PE ratio of 19.59, a PEG ratio of 2.41 and a beta of 0.36. Xcel Energy has a fifty-two week low of $68.72 and a fifty-two week high of $84.23. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.62 and a current ratio of 0.70.

Xcel Energy (NASDAQ:XEL) last announced its quarterly earnings results on Wednesday, July 29th. The company reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.14. Xcel Energy had a net margin of 15.28% and a return on equity of 10.65%. The company had revenue of $3.12 billion during the quarter, compared to the consensus estimate of $3.54 billion. During the same period in the prior year, the business earned $1.59 earnings per share. The company’s revenue for the quarter was down 5.1% compared to the same quarter last year. On average, equities analysts expect that Xcel Energy will post 4.12 EPS for the current fiscal year.

Xcel Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 20th. Shareholders of record on Tuesday, September 15th will be given a $0.5925 dividend. This represents a $2.37 annualized dividend and a yield of 3.3%. The ex-dividend date is Tuesday, September 15th. Xcel Energy’s dividend payout ratio is 64.93%.

Hedge Funds Weigh In On Xcel Energy

Several large investors have recently modified their holdings of the business. Evolution Wealth Management Inc. increased its holdings in Xcel Energy by 365.3% in the first quarter. Evolution Wealth Management Inc. now owns 349 shares of the company’s stock valued at $28,000 after purchasing an additional 274 shares during the period. Pin Oak Investment Advisors Inc. acquired a new position in Xcel Energy during the 2nd quarter worth about $29,000. First Bancorp Inc ME acquired a new position in Xcel Energy during the 2nd quarter worth about $36,000. Cedar Mountain Advisors LLC bought a new stake in shares of Xcel Energy in the 1st quarter valued at about $39,000. Finally, Archer Investment Corp bought a new stake in shares of Xcel Energy in the 2nd quarter valued at about $40,000. Institutional investors own 78.38% of the company’s stock.

Xcel Energy Company Profile

Xcel Energy Inc is a Minneapolis-based energy company that provides electricity and natural gas through regulated utility operations. Its businesses generate, transmit, distribute and sell electricity, as well as distribute natural gas to residential, commercial and industrial customers.

Through its operating companies, Xcel Energy serves customers in Colorado, Michigan, Minnesota, New Mexico, North Dakota, South Dakota, Texas and Wisconsin. The company’s operations include a diverse generation portfolio featuring wind, solar, hydroelectric, nuclear, natural gas and other energy resources.