Truist Financial Issues Positive Forecast for Xcel Energy (NASDAQ:XEL) Stock Price

Xcel Energy (NASDAQ:XEL) had its target price hoisted by Truist Financial from $92.00 to $94.00 in a research report report published on Thursday,Benzinga reports. They currently have a buy rating on the stock.

XEL has been the subject of several other reports. JPMorgan Chase & Co. cut their target price on shares of Xcel Energy from $94.00 to $91.00 and set an “overweight” rating for the company in a research note on Thursday, May 14th. Evercore reaffirmed an “outperform” rating and issued a $96.00 price target on shares of Xcel Energy in a report on Monday, May 4th. KeyCorp reaffirmed an “overweight” rating on shares of Xcel Energy in a report on Monday, June 8th. Wall Street Zen downgraded Xcel Energy from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Finally, New Street Research set a $91.00 price objective on Xcel Energy in a research note on Tuesday, June 23rd. Two research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $92.76.

Xcel Energy Price Performance

Shares of Xcel Energy stock opened at $79.98 on Thursday. Xcel Energy has a 52 week low of $68.97 and a 52 week high of $84.23. The company has a current ratio of 0.77, a quick ratio of 0.68 and a debt-to-equity ratio of 1.45. The stock has a market cap of $49.93 billion, a PE ratio of 23.05, a price-to-earnings-growth ratio of 2.06 and a beta of 0.39. The company’s 50-day moving average price is $79.57 and its two-hundred day moving average price is $79.05.

Xcel Energy (NASDAQ:XEL) last posted its quarterly earnings data on Wednesday, April 29th. The company reported $0.91 earnings per share for the quarter, meeting the consensus estimate of $0.91. The company had revenue of $4.02 billion during 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% on a year-over-year basis. During the same quarter last year, the firm posted $0.84 EPS. As a group, sell-side analysts anticipate that Xcel Energy will post 4.11 EPS for the current fiscal year.

Xcel Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 20th. Stockholders of record on Monday, June 15th will be given a $0.5925 dividend. This represents a $2.37 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend is Monday, June 15th. Xcel Energy’s dividend payout ratio (DPR) is 68.30%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Quadrant Capital Group LLC boosted its position in Xcel Energy by 1.7% during the 3rd quarter. Quadrant Capital Group LLC now owns 7,358 shares of the company’s stock worth $593,000 after acquiring an additional 125 shares during the period. Bleakley Financial Group LLC lifted its position in shares of Xcel Energy by 0.5% in the fourth quarter. Bleakley Financial Group LLC now owns 28,949 shares of the company’s stock worth $2,138,000 after purchasing an additional 131 shares in the last quarter. Hills Bank & Trust Co boosted its holdings in shares of Xcel Energy by 2.2% during the fourth quarter. Hills Bank & Trust Co now owns 6,184 shares of the company’s stock worth $457,000 after purchasing an additional 133 shares during the period. Keel Point LLC boosted its holdings in shares of 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 purchasing an additional 137 shares during the period. Finally, KCM Investment Advisors LLC grew its position in Xcel Energy by 1.9% during the first quarter. KCM Investment Advisors LLC now owns 7,549 shares of the company’s stock valued at $600,000 after purchasing an additional 140 shares in the last quarter. 78.38% of the stock is owned by institutional investors and hedge funds.

Xcel Energy Company Profile

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.