Credit Suisse Group Begins Coverage on Xcel Energy (NASDAQ:XEL)

Research analysts at Credit Suisse Group began coverage on shares of Xcel Energy (NASDAQ:XELGet Rating) in a research note issued on Monday, The Fly reports. The firm set an “outperform” rating on the stock.

Other research analysts have also recently issued reports about the stock. KeyCorp lifted their price objective on shares of Xcel Energy from $78.00 to $79.00 and gave the company an “overweight” rating in a research note on Wednesday, April 20th. Mizuho raised shares of Xcel Energy from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $64.00 to $72.00 in a research note on Monday, January 10th. Morgan Stanley lifted their price objective on shares of Xcel Energy from $69.00 to $75.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 20th. Finally, Evercore ISI raised shares of Xcel Energy from an “in-line” rating to an “outperform” rating and boosted their target price for the stock from $70.00 to $75.00 in a research note on Tuesday, January 25th. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $73.78.

XEL stock traded down $0.60 during mid-day trading on Monday, hitting $73.70. 4,446,352 shares of the company were exchanged, compared to its average volume of 3,359,267. The business has a 50 day simple moving average of $70.57 and a 200-day simple moving average of $67.88. The company has a current ratio of 0.84, a quick ratio of 0.72 and a debt-to-equity ratio of 1.40. The stock has a market capitalization of $40.13 billion, a PE ratio of 24.90, a price-to-earnings-growth ratio of 3.70 and a beta of 0.36. Xcel Energy has a 1-year low of $61.15 and a 1-year high of $76.05.

Xcel Energy (NASDAQ:XELGet Rating) last released its quarterly earnings results on Thursday, January 27th. The company reported $0.58 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.58. Xcel Energy had a net margin of 11.89% and a return on equity of 10.60%. The company had revenue of $3.36 billion during the quarter, compared to the consensus estimate of $3.10 billion. During the same period in the previous year, the business earned $0.54 earnings per share. The firm’s quarterly revenue was up 13.8% on a year-over-year basis. Equities research analysts expect that Xcel Energy will post 3.17 earnings per share for the current year.

Several institutional investors and hedge funds have recently modified their holdings of XEL. Future Financial Wealth Managment LLC bought a new position in Xcel Energy during the 4th quarter valued at $26,000. Equitec Proprietary Markets LLC bought a new position in Xcel Energy during the 4th quarter valued at $27,000. TAP Consulting LLC bought a new position in Xcel Energy during the 4th quarter valued at $28,000. Industrial Alliance Investment Management Inc. bought a new position in Xcel Energy during the 4th quarter valued at $28,000. Finally, Johnson Financial Group Inc. bought a new position in Xcel Energy during the 4th quarter valued at $29,000. Institutional investors own 74.43% of the company’s stock.

About Xcel Energy (Get Rating)

Xcel Energy Inc, through its subsidiaries, generates, purchases, transmits, distributes, and sells electricity. It operates through Regulated Electric Utility, Regulated Natural Gas Utility, and All Other segments. The company generates electricity through coal, nuclear, natural gas, hydroelectric, solar, biomass, oil, wood/refuse, and wind energy sources.

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