Mizuho Reaffirms Hold Rating for Xcel Energy Inc. (XEL)
Several other research firms also recently weighed in on XEL. Argus boosted their price target on shares of Xcel Energy from $50.00 to $53.00 and gave the stock a buy rating in a research note on Wednesday, June 14th. Jefferies Group LLC restated a hold rating and set a $50.00 price target on shares of Xcel Energy in a research report on Thursday, August 31st. Zacks Investment Research raised Xcel Energy from a hold rating to a buy rating and set a $53.00 price objective on the stock in a research note on Thursday, June 22nd. BidaskClub cut Xcel Energy from a buy rating to a hold rating in a research note on Thursday, July 6th. Finally, Morgan Stanley raised their price objective on Xcel Energy from $46.00 to $48.00 and gave the company an equal weight rating in a research note on Friday, September 8th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. Xcel Energy has an average rating of Hold and a consensus price target of $48.33.
Shares of Xcel Energy (NYSE XEL) opened at 47.32 on Friday. The stock’s 50 day moving average price is $48.98 and its 200 day moving average price is $46.54. The company has a market capitalization of $24.03 billion, a PE ratio of 20.89 and a beta of 0.20. Xcel Energy has a 12-month low of $38.00 and a 12-month high of $50.56.
Xcel Energy (NYSE:XEL) last posted its quarterly earnings results on Thursday, July 27th. The utilities provider reported $0.45 EPS for the quarter, topping the consensus estimate of $0.43 by $0.02. The firm had revenue of $2.64 billion for the quarter, compared to the consensus estimate of $2.63 billion. Xcel Energy had a net margin of 10.08% and a return on equity of 10.42%. The business’s revenue was up 5.8% compared to the same quarter last year. During the same period last year, the firm posted $0.39 earnings per share. On average, equities research analysts forecast that Xcel Energy will post $2.20 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 20th. Shareholders of record on Friday, September 15th will be given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 3.04%. The ex-dividend date is Thursday, September 14th. Xcel Energy’s payout ratio is 63.44%.
In related news, EVP Kent T. Larson sold 10,000 shares of the firm’s stock in a transaction dated Friday, July 28th. The stock was sold at an average price of $47.25, for a total value of $472,500.00. Following the sale, the executive vice president now directly owns 80,221 shares of the company’s stock, valued at $3,790,442.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Daniel Yohannes bought 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 5th. The stock was acquired at an average cost of $49.53 per share, for a total transaction of $49,530.00. Following the completion of the purchase, the director now directly owns 1,000 shares of the company’s stock, valued at $49,530. The disclosure for this purchase can be found here. Corporate insiders own 0.22% of the company’s stock.
A number of large investors have recently made changes to their positions in the stock. Parallel Advisors LLC raised its position in Xcel Energy by 1.6% during the 2nd quarter. Parallel Advisors LLC now owns 2,227 shares of the utilities provider’s stock valued at $105,000 after purchasing an additional 36 shares during the last quarter. Carroll Financial Associates Inc. grew its position in shares of Xcel Energy by 14.5% in the 2nd quarter. Carroll Financial Associates Inc. now owns 2,365 shares of the utilities provider’s stock worth $108,000 after buying an additional 300 shares during the last quarter. Sandy Spring Bank grew its position in shares of Xcel Energy by 24.8% in the 2nd quarter. Sandy Spring Bank now owns 2,401 shares of the utilities provider’s stock worth $110,000 after buying an additional 477 shares during the last quarter. Sharkey Howes & Javer grew its position in shares of Xcel Energy by 0.5% in the 1st quarter. Sharkey Howes & Javer now owns 2,994 shares of the utilities provider’s stock worth $133,000 after buying an additional 16 shares during the last quarter. Finally, Dupont Capital Management Corp bought a new stake in shares of Xcel Energy in the 2nd quarter worth approximately $135,000. Institutional investors own 72.45% 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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