Xcel Energy (NASDAQ:XEL) Stock Price Expected to Rise, Truist Financial Analyst Says

Xcel Energy (NASDAQ:XEL) had its target price boosted by equities researchers at Truist Financial from $92.00 to $94.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Truist Financial’s target price points to a potential upside of 17.55% from the company’s previous close.

A number of other analysts have also weighed in on the company. Barclays upped their price objective on Xcel Energy from $87.00 to $90.00 and gave the stock an “overweight” rating in a research report on Thursday, July 9th. Weiss Ratings reissued a “buy (b-)” rating on shares of Xcel Energy in a research note on Wednesday, June 17th. Mizuho cut their price target on Xcel Energy from $94.00 to $91.00 and set an “outperform” rating on the stock in a report on Tuesday, June 23rd. New Street Research set a $91.00 price target on Xcel Energy in a research report on Tuesday, June 23rd. Finally, UBS Group lifted their price objective on Xcel Energy from $89.00 to $91.00 and gave the company a “buy” rating in a research note on Monday, April 20th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Xcel Energy has an average rating of “Buy” and an average price target of $92.12.

Xcel Energy Trading Up 0.9%

Shares of XEL stock traded up $0.71 on Thursday, hitting $79.96. The stock had a trading volume of 1,856,737 shares, compared to its average volume of 5,202,775. The company’s 50 day moving average price is $79.58 and its 200-day moving average price is $79.01. Xcel Energy has a 1 year low of $68.97 and a 1 year high of $84.23. The company has a debt-to-equity ratio of 1.45, a current ratio of 0.77 and a quick ratio of 0.68. The firm has a market capitalization of $49.92 billion, a P/E ratio of 23.04, a P/E/G ratio of 2.08 and a beta of 0.39.

Xcel Energy (NASDAQ:XEL) last issued its quarterly earnings results on Wednesday, April 29th. The company reported $0.91 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.91. The company had revenue of $4.02 billion for the quarter, compared to analyst estimates of $4.21 billion. Xcel Energy had a net margin of 14.14% and a return on equity of 10.37%. The business’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.84 earnings per share. Analysts anticipate that Xcel Energy will post 4.11 earnings per share for the current year.

Hedge Funds Weigh In On Xcel Energy

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Quadrant Capital Group LLC boosted its holdings in Xcel Energy by 1.7% during the third quarter. Quadrant Capital Group LLC now owns 7,358 shares of the company’s stock worth $593,000 after buying an additional 125 shares in the last quarter. Bleakley Financial Group LLC lifted its position in shares of Xcel Energy by 0.5% during the 4th quarter. Bleakley Financial Group LLC now owns 28,949 shares of the company’s stock valued at $2,138,000 after acquiring an additional 131 shares during the period. Hills Bank & Trust Co grew its holdings in Xcel Energy by 2.2% during the 4th quarter. Hills Bank & Trust Co now owns 6,184 shares of the company’s stock valued at $457,000 after buying an additional 133 shares during the last quarter. Keel Point LLC increased its position in Xcel Energy by 2.6% during the fourth quarter. Keel Point LLC now owns 5,485 shares of the company’s stock worth $405,000 after buying an additional 137 shares in the last quarter. Finally, KCM Investment Advisors LLC raised its holdings in shares of Xcel Energy by 1.9% in the first quarter. KCM Investment Advisors LLC now owns 7,549 shares of the company’s stock worth $600,000 after acquiring an additional 140 shares during the last quarter. Hedge funds and other institutional investors own 78.38% of the company’s stock.

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.