Xcel Energy Inc. (XEL) Stock Rating Reaffirmed by SunTrust Banks, Inc.
Xcel Energy Inc. (NYSE:XEL)‘s stock had its “hold” rating reiterated by investment analysts at SunTrust Banks, Inc. in a report released on Tuesday. They presently have a $47.00 price objective on the utilities provider’s stock. SunTrust Banks, Inc.’s price target would suggest a potential downside of 4.97% from the stock’s current price.
A number of other research firms also recently commented on XEL. Morgan Stanley lifted their target price on Xcel Energy from $46.00 to $48.00 and gave the company an “equal weight” rating in a research report on Friday, September 8th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $50.00 price objective on shares of Xcel Energy in a research note on Thursday, August 31st. Bank of America Corporation assumed coverage on Xcel Energy in a research note on Tuesday. They issued a “buy” rating and a $53.00 price objective for the company. BidaskClub raised Xcel Energy from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, August 23rd. Finally, Zacks Investment Research raised Xcel Energy from a “sell” rating to a “hold” rating in a research note on Friday, October 13th. Nine analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $48.91.
Shares of Xcel Energy (NYSE:XEL) traded up 0.39% during trading on Tuesday, hitting $49.46. 3,186,531 shares of the stock were exchanged. Xcel Energy has a 52 week low of $38.00 and a 52 week high of $50.56. The firm has a market capitalization of $25.11 billion, a P/E ratio of 21.84 and a beta of 0.19. The firm has a 50 day moving average price of $48.50 and a 200 day moving average price of $47.26.
Xcel Energy (NYSE:XEL) last posted its earnings results on Thursday, July 27th. The utilities provider reported $0.45 EPS for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.02. Xcel Energy had a return on equity of 10.42% and a net margin of 10.08%. 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 business earned $0.39 earnings per share. The company’s revenue for the quarter was up 5.8% on a year-over-year basis. Analysts forecast that Xcel Energy will post $2.20 EPS for the current fiscal year.
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In related news, EVP Kent T. Larson sold 10,000 shares of the business’s stock in a transaction on Friday, July 28th. The stock was sold at an average price of $47.25, for a total transaction of $472,500.00. Following the completion of the transaction, the executive vice president now directly owns 80,221 shares of the company’s stock, valued at approximately $3,790,442.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Daniel Yohannes bought 1,000 shares of the stock in a transaction that occurred on Tuesday, September 5th. The shares were bought at an average cost of $49.53 per share, with a total value of $49,530.00. Following the completion of the purchase, the director now directly owns 1,000 shares in the company, valued at $49,530. The disclosure for this purchase can be found here. Insiders own 0.22% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Kohmann Bosshard Financial Services LLC acquired a new position in Xcel Energy during the 3rd quarter worth $213,000. Xact Kapitalforvaltning AB grew its stake in Xcel Energy by 4.7% during the 3rd quarter. Xact Kapitalforvaltning AB now owns 42,173 shares of the utilities provider’s stock worth $1,996,000 after purchasing an additional 1,897 shares in the last quarter. CAPROCK Group Inc. acquired a new position in Xcel Energy during the 3rd quarter worth $237,000. APG Asset Management N.V. grew its stake in Xcel Energy by 1,034.8% during the 3rd quarter. APG Asset Management N.V. now owns 1,246,656 shares of the utilities provider’s stock worth $58,992,000 after purchasing an additional 1,136,800 shares in the last quarter. Finally, Fisher Asset Management LLC acquired a new position in Xcel Energy during the 3rd quarter worth $230,000. 72.51% of the stock is owned by hedge funds and other institutional investors.
Xcel Energy Company Profile
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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