Xcel Energy Inc (NYSE:XEL)‘s stock had its “hold” rating restated by equities research analysts at Royal Bank of Canada in a research note issued to investors on Friday. They currently have a $45.00 target price on the stock. Royal Bank of Canada’s target price suggests a potential upside of 3.23% from the company’s previous close.
XEL has been the topic of several other research reports. Zacks Investment Research downgraded shares of Xcel Energy from a “buy” rating to a “hold” rating in a research note on Tuesday, November 29th. Jefferies Group LLC reissued a “hold” rating and set a $44.00 price objective on shares of Xcel Energy in a research note on Monday, February 6th. Finally, Barclays PLC downgraded shares of Xcel Energy from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $44.00 to $42.00 in a research note on Friday, December 2nd. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $45.14.
Shares of Xcel Energy (NYSE:XEL) opened at 43.59 on Friday. The firm has a market cap of $22.11 billion, a P/E ratio of 19.74 and a beta of 0.09. Xcel Energy has a 12-month low of $38.00 and a 12-month high of $45.42. The company has a 50-day moving average of $42.54 and a 200 day moving average of $41.03.
Xcel Energy (NYSE:XEL) last announced its quarterly earnings data on Thursday, February 2nd. The company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.01. The business had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $3.18 billion. Xcel Energy had a net margin of 10.11% and a return on equity of 10.41%. The company’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.41 earnings per share. Equities research analysts anticipate that Xcel Energy will post $2.20 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, April 20th. Investors of record on Wednesday, March 15th will be given a dividend of $0.36 per share. This is a positive change from Xcel Energy’s previous quarterly dividend of $0.34. The ex-dividend date is Monday, March 13th. This represents a $1.44 annualized dividend and a yield of 3.30%. Xcel Energy’s dividend payout ratio is 61.54%.
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In related news, Director James T. Prokopanko purchased 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 7th. The stock was purchased at an average price of $41.45 per share, with a total value of $41,450.00. Following the completion of the transaction, the director now owns 1,000 shares of the company’s stock, valued at approximately $41,450. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.20% of the company’s stock.
A number of institutional investors have recently modified their holdings of XEL. Schroder Investment Management Group raised its position in shares of Xcel Energy by 211.5% in the third quarter. Schroder Investment Management Group now owns 200,262 shares of the company’s stock valued at $8,239,000 after buying an additional 135,963 shares during the period. Wells Fargo & Company MN raised its position in shares of Xcel Energy by 8.4% in the third quarter. Wells Fargo & Company MN now owns 2,817,853 shares of the company’s stock valued at $115,925,000 after buying an additional 218,762 shares during the period. Morgan Stanley raised its position in shares of Xcel Energy by 66.6% in the third quarter. Morgan Stanley now owns 1,567,950 shares of the company’s stock valued at $64,505,000 after buying an additional 626,625 shares during the period. Macquarie Group Ltd. raised its position in shares of Xcel Energy by 3.0% in the second quarter. Macquarie Group Ltd. now owns 182,773 shares of the company’s stock valued at $8,184,000 after buying an additional 5,298 shares during the period. Finally, BlackRock Group LTD raised its position in shares of Xcel Energy by 1.1% in the third quarter. BlackRock Group LTD now owns 4,649,402 shares of the company’s stock valued at $191,276,000 after buying an additional 49,538 shares during the period. 70.91% of the stock is owned by hedge funds and other institutional investors.
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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