Truist Financial Raises Xcel Energy (NASDAQ:XEL) Price Target to $94.00

Xcel Energy (NASDAQ:XEL) had its price target upped by research analysts at Truist Financial from $92.00 to $94.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Truist Financial’s price objective would suggest a potential upside of 17.55% from the company’s current price.

A number of other research analysts also recently commented on the stock. Jefferies Financial Group set a $101.00 price objective on shares of Xcel Energy in a research note on Tuesday, July 7th. Morgan Stanley set a $89.00 target price on shares of Xcel Energy in a report on Wednesday, June 24th. Barclays increased their price target on shares of Xcel Energy from $87.00 to $90.00 and gave the stock an “overweight” rating in a research note on Thursday, July 9th. Mizuho decreased their price target on shares of Xcel Energy from $94.00 to $91.00 and set an “outperform” rating on the stock in a report on Tuesday, June 23rd. Finally, Evercore reissued an “outperform” rating and set a $96.00 price objective on shares of Xcel Energy in a research note on Monday, May 4th. Two analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $92.12.

Xcel Energy Trading Up 0.9%

NASDAQ XEL traded up $0.71 during mid-day trading on Thursday, reaching $79.96. 1,856,737 shares of the stock were exchanged, compared to its average volume of 5,202,775. Xcel Energy has a 1-year low of $68.97 and a 1-year high of $84.23. The business’s fifty day simple moving average is $79.58 and its 200 day simple moving average is $79.01. The stock has a market capitalization of $49.92 billion, a PE ratio of 23.04, a PEG ratio of 2.08 and a beta of 0.39. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.68 and a current ratio of 0.77.

Xcel Energy (NASDAQ:XEL) last issued its quarterly earnings results on Wednesday, April 29th. The company reported $0.91 earnings per share for the quarter, meeting the consensus estimate of $0.91. Xcel Energy had a return on equity of 10.37% and a net margin of 14.14%.The company had revenue of $4.02 billion during the quarter, compared to the consensus estimate of $4.21 billion. During the same period in the previous year, the firm posted $0.84 EPS. Xcel Energy’s revenue was up 2.9% on a year-over-year basis. On average, research analysts anticipate that Xcel Energy will post 4.11 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Xcel Energy

Large investors have recently added to or reduced their stakes in the company. Abound Wealth Management lifted its holdings in shares of Xcel Energy by 394.5% in the 4th quarter. Abound Wealth Management now owns 361 shares of the company’s stock worth $27,000 after purchasing an additional 288 shares during the last quarter. Evolution Wealth Management Inc. grew its stake in Xcel Energy by 365.3% during the 1st quarter. Evolution Wealth Management Inc. now owns 349 shares of the company’s stock worth $28,000 after buying an additional 274 shares during the last quarter. Garton & Associates Financial Advisors LLC acquired a new stake in Xcel Energy in the fourth quarter worth $30,000. Beacon Financial Strategies CORP bought a new stake in Xcel Energy in the fourth quarter valued at $33,000. Finally, Pittenger & Anderson Inc. lifted its stake in Xcel Energy by 73.8% in the fourth quarter. Pittenger & Anderson Inc. now owns 471 shares of the company’s stock valued at $35,000 after buying an additional 200 shares during the last quarter. 78.38% of the stock is currently owned by institutional investors.

About Xcel Energy

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.