Morgan Stanley Boosts Xcel Energy Inc. (XEL) Price Target to $48.00
Xcel Energy Inc. (NYSE:XEL) had its target price boosted by Morgan Stanley from $46.00 to $48.00 in a note issued to investors on Friday. The brokerage currently has an “equal weight” rating on the utilities provider’s stock. Morgan Stanley’s price objective suggests a potential downside of 3.79% from the stock’s previous close.
Other equities research analysts also recently issued research reports about the stock. BidaskClub upgraded shares of Xcel Energy from a “hold” rating to a “buy” rating in a research note on Tuesday, August 1st. Zacks Investment Research upgraded shares of Xcel Energy from a “hold” rating to a “buy” rating and set a $52.00 target price on the stock in a research note on Wednesday, June 14th. Argus boosted their target price on shares of Xcel Energy from $50.00 to $53.00 and gave the company a “buy” rating in a research note on Wednesday, June 14th. Jefferies Group LLC restated a “hold” rating and issued a $50.00 target price on shares of Xcel Energy in a research note on Thursday, August 31st. Finally, BMO Capital Markets boosted their target price on shares of Xcel Energy from $46.00 to $47.00 and gave the company a “market perform” rating in a research note on Friday, July 28th. Ten research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. Xcel Energy has an average rating of “Hold” and an average price target of $47.00.
Xcel Energy (XEL) traded up 0.68% on Friday, hitting $50.23. 1,643,615 shares of the stock were exchanged. Xcel Energy has a 1-year low of $38.00 and a 1-year high of $50.30. The company’s 50 day moving average is $48.50 and its 200 day moving average is $46.16. The stock has a market cap of $25.50 billion, a PE ratio of 22.18 and a beta of 0.20.
Xcel Energy (NYSE:XEL) last issued its earnings results on Thursday, July 27th. The utilities provider reported $0.45 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.02. Xcel Energy had a net margin of 10.08% and a return on equity of 10.42%. The company had revenue of $2.64 billion for the quarter, compared to the consensus estimate of $2.63 billion. During the same quarter in the previous year, the company earned $0.39 EPS. The firm’s revenue for the quarter was up 5.8% compared to the same quarter last year. On average, equities research analysts expect that Xcel Energy will post $2.20 earnings per share for the current year.
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In related news, EVP Kent T. Larson sold 10,000 shares of the company’s stock in a transaction dated Friday, July 28th. The shares were sold at an average price of $47.25, for a total transaction of $472,500.00. Following the transaction, the executive vice president now owns 80,221 shares in the company, valued at approximately $3,790,442.25. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Daniel Yohannes purchased 1,000 shares of Xcel Energy stock in a transaction that occurred on Tuesday, September 5th. The shares were bought at an average price of $49.53 per share, for a total transaction of $49,530.00. Following the transaction, the director now owns 1,000 shares in the company, valued at $49,530. The disclosure for this purchase can be found here. 0.22% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. DekaBank Deutsche Girozentrale lifted its position in Xcel Energy by 13.2% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 154,058 shares of the utilities provider’s stock worth $6,883,000 after buying an additional 17,905 shares in the last quarter. Blair William & Co. IL lifted its position in Xcel Energy by 4.9% during the 2nd quarter. Blair William & Co. IL now owns 28,902 shares of the utilities provider’s stock worth $1,326,000 after buying an additional 1,343 shares in the last quarter. Blackstart Capital LP bought a new stake in Xcel Energy during the 1st quarter worth about $12,649,000. Oppenheimer & Co. Inc. raised its holdings in Xcel Energy by 6.6% during the 1st quarter. Oppenheimer & Co. Inc. now owns 10,970 shares of the utilities provider’s stock worth $487,000 after purchasing an additional 680 shares during the last quarter. Finally, BlackRock Inc. raised its holdings in Xcel Energy by 2,692.8% during the 1st quarter. BlackRock Inc. now owns 41,639,955 shares of the utilities provider’s stock worth $1,850,897,000 after purchasing an additional 40,148,954 shares during the last quarter. Institutional investors and hedge funds own 73.04% 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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