KeyCorp Cuts Xcel Energy (NASDAQ:XEL) Price Target to $84.00

Xcel Energy (NASDAQ:XEL) had its price objective decreased by KeyCorp from $85.00 to $84.00 in a research report released on Friday, MarketBeat Ratings reports. KeyCorp currently has an overweight rating on the stock.

A number of other research analysts also recently weighed in on XEL. Mizuho increased their price objective on shares of Xcel Energy from $83.00 to $87.00 and gave the company an “outperform” rating in a research report on Monday, October 27th. Bank of America increased their price target on Xcel Energy from $78.00 to $84.00 and gave the company a “buy” rating in a report on Thursday, September 25th. BTIG Research raised Xcel Energy to a “strong-buy” rating in a report on Wednesday, October 22nd. Argus raised Xcel Energy to a “strong-buy” rating in a research report on Wednesday, December 3rd. Finally, Cowen assumed coverage on shares of Xcel Energy in a research note on Wednesday, October 15th. They issued a “buy” rating on the stock. Three equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $87.57.

Xcel Energy Price Performance

Shares of XEL opened at $75.15 on Friday. Xcel Energy has a twelve month low of $62.58 and a twelve month high of $83.01. The company has a market capitalization of $44.45 billion, a P/E ratio of 22.91, a price-to-earnings-growth ratio of 2.22 and a beta of 0.45. The firm has a 50 day moving average of $80.02 and a 200 day moving average of $74.49. The company has a quick ratio of 0.69, a current ratio of 0.79 and a debt-to-equity ratio of 1.51.

Xcel Energy (NASDAQ:XEL) last posted its earnings results on Wednesday, October 29th. The company reported $1.24 EPS for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.08). Xcel Energy had a return on equity of 10.45% and a net margin of 13.46%.The business had revenue of $3.92 billion during the quarter, compared to the consensus estimate of $3.89 billion. During the same period in the previous year, the business posted $1.25 EPS. The firm’s revenue for the quarter was up 7.4% on a year-over-year basis. As a group, equities research analysts anticipate that Xcel Energy will post 3.82 earnings per share for the current fiscal year.

Institutional Trading of Xcel Energy

A number of institutional investors and hedge funds have recently modified their holdings of the business. Sequoia Financial Advisors LLC increased its position in shares of Xcel Energy by 35.4% in the second quarter. Sequoia Financial Advisors LLC now owns 35,803 shares of the company’s stock worth $2,438,000 after acquiring an additional 9,355 shares in the last quarter. Nordea Investment Management AB boosted its stake in Xcel Energy by 10.3% in the 2nd quarter. Nordea Investment Management AB now owns 3,211,081 shares of the company’s stock worth $216,042,000 after purchasing an additional 299,484 shares during the period. Financial Gravity Companies Inc. purchased a new position in Xcel Energy during the 2nd quarter worth approximately $317,000. Electron Capital Partners LLC grew its position in Xcel Energy by 93.7% during the 1st quarter. Electron Capital Partners LLC now owns 1,921,636 shares of the company’s stock worth $136,033,000 after purchasing an additional 929,516 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. lifted its holdings in shares of Xcel Energy by 1.5% in the second quarter. Nomura Asset Management Co. Ltd. now owns 235,213 shares of the company’s stock valued at $16,018,000 after purchasing an additional 3,377 shares in the last quarter. 78.38% of the stock is owned by institutional investors and hedge funds.

About Xcel Energy

Xcel Energy Inc, through its subsidiaries, engages in the generation, purchasing, transmission, distribution, and sale of electricity. It operates through Regulated Electric Utility, Regulated Natural Gas Utility, and All Other segments. The company generates electricity through wind, nuclear, hydroelectric, biomass, and solar energy sources, as well as coal, natural gas, oil, wood, and refuse-derived fuels.