Zacks Investment Research upgraded shares of Xcel Energy (NYSE:XEL) from a sell rating to a hold rating in a research report sent to investors on Monday.
According to Zacks, “Shares of Xcel Energy have gained more than the industry in the last one year. Xcel Energy is poised to gain from its long-term investment plans, focus on renewable generation and improving economic conditions in its service territories. The constructive regulatory orders will also help the company. The recently announced Colorado Energy Plan is part of company’s long-term objective to cut down emission. However, Xcel Energy’s rising debt level is a concern, in an interest hike environment, with its debt/capital ratio presently higher than the industry average. Lower-than-expected performance of its subsidiaries and cost of adhering stringent environmental regulation could hurt its profitability.”
A number of other research analysts have also recently issued reports on the company. ValuEngine raised Xcel Energy from a hold rating to a buy rating in a report on Sunday, December 31st. SunTrust Banks reaffirmed a hold rating and issued a $44.00 price target on shares of Xcel Energy in a report on Tuesday, December 26th. Morgan Stanley lifted their price target on Xcel Energy from $50.00 to $53.00 and gave the company an equal weight rating in a report on Wednesday, December 13th. Bank of America started coverage on Xcel Energy in a report on Tuesday, October 24th. They issued a buy rating and a $53.00 price target for the company. Finally, JPMorgan Chase & Co. lifted their price target on Xcel Energy from $51.00 to $53.00 and gave the company an overweight rating in a report on Thursday, October 12th. Nine investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average target price of $49.09.
Xcel Energy (XEL) traded up $0.14 during midday trading on Monday, hitting $45.29. The stock had a trading volume of 4,761,886 shares, compared to its average volume of 3,180,000. The company has a market cap of $22,950.00, a price-to-earnings ratio of 19.44, a PEG ratio of 3.38 and a beta of 0.21. Xcel Energy has a 12 month low of $40.43 and a 12 month high of $52.22. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.68 and a current ratio of 0.87.
Xcel Energy (NYSE:XEL) last issued its quarterly earnings data on Thursday, October 26th. The utilities provider reported $0.97 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.92 by $0.05. The company had revenue of $3.02 billion during the quarter, compared to analysts’ expectations of $3.27 billion. Xcel Energy had a return on equity of 10.63% and a net margin of 10.40%. The business’s revenue was down .8% on a year-over-year basis. During the same period last year, the business earned $0.90 earnings per share. sell-side analysts anticipate that Xcel Energy will post 2.31 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Saturday, January 20th. Investors of record on Thursday, December 28th will be issued a $0.36 dividend. The ex-dividend date is Wednesday, December 27th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 3.18%. Xcel Energy’s dividend payout ratio is 61.80%.
In related news, EVP Marvin E. Jr. Mcdaniel sold 5,176 shares of Xcel Energy stock in a transaction dated Wednesday, December 6th. The stock was sold at an average price of $51.07, for a total value of $264,338.32. Following the completion of the sale, the executive vice president now directly owns 81,371 shares in the company, valued at $4,155,616.97. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Timothy V. Wolf sold 3,000 shares of Xcel Energy stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $49.48, for a total value of $148,440.00. Following the completion of the sale, the director now owns 3,700 shares of the company’s stock, valued at $183,076. The disclosure for this sale can be found here. Insiders sold 28,363 shares of company stock valued at $1,415,265 over the last ninety days. 0.22% of the stock is currently owned by company insiders.
Hedge funds have recently made changes to their positions in the stock. Assetmark Inc. increased its position in Xcel Energy by 118.9% in the third quarter. Assetmark Inc. now owns 2,191 shares of the utilities provider’s stock worth $104,000 after purchasing an additional 1,190 shares during the period. Sandy Spring Bank increased its position in Xcel Energy by 24.8% in the second quarter. Sandy Spring Bank now owns 2,401 shares of the utilities provider’s stock worth $110,000 after purchasing an additional 477 shares during the period. Krilogy Financial LLC acquired a new stake in Xcel Energy in the third quarter worth about $127,000. BB&T Investment Services Inc. increased its position in Xcel Energy by 73.3% in the third quarter. BB&T Investment Services Inc. now owns 2,730 shares of the utilities provider’s stock worth $145,000 after purchasing an additional 1,155 shares during the period. Finally, Sun Life Financial INC increased its position in Xcel Energy by 30,858.3% in the second quarter. Sun Life Financial INC now owns 3,715 shares of the utilities provider’s stock worth $170,000 after purchasing an additional 3,703 shares during the period. Hedge funds and other institutional investors own 73.32% of the company’s stock.
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About Xcel Energy
Xcel Energy Inc is a public utility holding company. The Company’s operations include the activity of four utility subsidiaries that serve electric and natural gas customers in eight states. The Company’s segments include regulated electric utility, regulated natural gas utility and all other. The Company’s utility subsidiaries include NSP-Minnesota, NSP-Wisconsin, Public Service Company of Colorado (PSCo) and Southwestern Public Service Co (SPS), which serve customers in portions of Colorado, Michigan, Minnesota, New Mexico, North Dakota, South Dakota, Texas and Wisconsin.
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