Zacks Reiterates Neutral Rating for Xcel Energy (XEL)
Xcel Energy (NYSE:XEL)‘s stock had its “neutral” rating reaffirmed by Zacks in a research note issued to investors on Thursday. They currently have a $32.00 target price on the stock. Zacks‘s target price would indicate a potential upside of 4.40% from the stock’s previous close.
Zacks’ analyst wrote, “Xcel Energy Inc. got off to a solid start in 2014 with both earnings and revenue beating Zacks Consensus Estimates. The harsh winter weather drove up power demand, which in turn boosted sales. Going forward, positive economic fundamentals and constructive regulatory outcome will continue to support the company’s revenue stream. Xcel Energy’s efforts to expand its renewable portfolio will bode well for future growth given the current encouraging climate for green energy generation in the U.S. In addition, consistent dividend increases will retain investors’ confidence in the stock. However, rising operating costs and tighter environment legislations might limit the company’s profitability We have maintained our Neutral recommendation. “
Shares of Xcel Energy (NYSE:XEL) traded up 0.72% during mid-day trading on Thursday, hitting $30.65. The stock had a trading volume of 2,858,726 shares. Xcel Energy has a 52 week low of $26.90 and a 52 week high of $32.37. The stock has a 50-day moving average of $30.90 and a 200-day moving average of $29.58. The company has a market cap of $15.385 billion and a price-to-earnings ratio of 15.61.
Xcel Energy (NYSE:XEL) last issued its quarterly earnings data on Thursday, May 1st. The company reported $0.52 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.51 by $0.01. The company had revenue of $3.20 billion for the quarter, compared to the consensus estimate of $2.89 billion. During the same quarter in the prior year, the company posted $0.48 earnings per share. The company’s quarterly revenue was up 15.1% on a year-over-year basis. On average, analysts predict that Xcel Energy will post $2.00 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Sunday, July 20th. Investors of record on Thursday, June 19th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 3.92%. The ex-dividend date is Tuesday, June 17th.
A number of other analysts have also recently weighed in on XEL. Analysts at JPMorgan Chase & Co. reiterated an “underweight” rating on shares of Xcel Energy in a research note on Wednesday, May 7th. They now have a $29.00 price target on the stock, up previously from $28.00. Separately, analysts at ISI Group raised their price target on shares of Xcel Energy from $30.00 to $33.00 in a research note on Monday, May 5th. Finally, analysts at Jefferies Group raised their price target on shares of Xcel Energy from $32.00 to $36.00 in a research note on Friday, May 2nd. Two investment analysts have rated the stock with a sell rating and one has given a hold rating to the company’s stock. The stock presently has a consensus rating of “Sell” and an average target price of $31.67.
Xcel Energy Inc is a holding company with subsidiaries engaged primarily in the utility business. During the year ended December 31, 2012, the Company’s operations included the activity of four wholly owned utility subsidiaries that serve electric and natural gas customers in eight states.
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