Xcel Energy (NASDAQ:XEL) Reaches New 12-Month Low Following Analyst Downgrade

Xcel Energy Inc. (NASDAQ:XEL) hit a new 52-week low during trading on Monday after Morgan Stanley lowered their price target on the stock from $89.00 to $83.00. Morgan Stanley currently has an equal weight rating on the stock. Xcel Energy traded as low as $71.67 and last traded at $71.89, with a volume of 4319492 shares. The stock had previously closed at $72.30.

Several other analysts have also recently commented on the stock. KeyCorp restated an “overweight” rating on shares of Xcel Energy in a report on Monday, June 8th. Barclays increased their target price on shares of Xcel Energy from $87.00 to $90.00 and gave the stock an “overweight” rating in a research report on Thursday, July 9th. Mizuho set a $92.00 target price on shares of Xcel Energy in a research note on Friday, July 31st. Weiss Ratings restated a “buy (b-)” rating on shares of Xcel Energy in a report on Monday, September 14th. Finally, Truist Financial dropped their price target on shares of Xcel Energy from $94.00 to $88.00 and set a “buy” rating on the stock in a research note on Thursday, August 13th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $92.06.

Institutional Investors Weigh In On Xcel Energy

Several institutional investors and hedge funds have recently modified their holdings of XEL. Evolution Wealth Management Inc. boosted its stake in shares of Xcel Energy by 365.3% during the 1st quarter. Evolution Wealth Management Inc. now owns 349 shares of the company’s stock worth $28,000 after acquiring an additional 274 shares in the last quarter. Pin Oak Investment Advisors Inc. acquired a new stake in Xcel Energy in the 2nd quarter worth approximately $29,000. First Bancorp Inc ME acquired a new stake in Xcel Energy in the 2nd quarter worth approximately $36,000. Cedar Mountain Advisors LLC bought a new stake in Xcel Energy during the first quarter worth approximately $39,000. Finally, Archer Investment Corp acquired a new position in Xcel Energy during the second quarter valued at approximately $40,000. Institutional investors and hedge funds own 78.38% of the company’s stock.

Xcel Energy Stock Performance

The company has a market cap of $44.88 billion, a price-to-earnings ratio of 19.68, a P/E/G ratio of 2.45 and a beta of 0.39. The company has a debt-to-equity ratio of 1.49, a current ratio of 0.70 and a quick ratio of 0.62. The firm has a fifty day simple moving average of $77.53 and a 200 day simple moving average of $79.08.

Xcel Energy (NASDAQ:XEL) last issued its quarterly earnings data on Wednesday, July 29th. The company reported $0.93 earnings per share for the quarter, topping analysts’ consensus estimates of $0.79 by $0.14. Xcel Energy had a net margin of 15.28% and a return on equity of 10.65%. The business had revenue of $3.12 billion during the quarter, compared to analysts’ expectations of $3.54 billion. During the same period in the previous year, the company earned $1.59 earnings per share. Xcel Energy’s revenue for the quarter was down 5.1% on a year-over-year basis. On average, sell-side analysts expect that Xcel Energy Inc. will post 4.12 earnings per share for the current fiscal year.

Xcel Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 20th. Stockholders of record on Tuesday, September 15th will be given a $0.5925 dividend. This represents a $2.37 annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend is Tuesday, September 15th. Xcel Energy’s dividend payout ratio (DPR) is currently 64.93%.

About Xcel Energy

Xcel Energy Inc is a Minneapolis-based electric and natural gas utility holding company that serves customers across parts of Colorado, Michigan, Minnesota, New Mexico, North Dakota, South Dakota, Texas and Wisconsin. Through its operating companies, Xcel provides electricity generation, transmission and distribution, as well as natural gas distribution and related energy services.

The company operates a diversified generating fleet that includes wind, solar, hydroelectric, nuclear, natural gas and other resources.