Xcel Energy (NASDAQ:XEL) Earns Hold Rating from Analysts at Jefferies Financial Group

Jefferies Financial Group started coverage on shares of Xcel Energy (NASDAQ:XEL) in a report released on Thursday, Marketbeat reports. The firm issued a hold rating and a $70.00 price target on the stock.

Other research analysts also recently issued research reports about the company. KeyCorp increased their target price on Xcel Energy from $65.00 to $66.00 and gave the company an overweight rating in a report on Monday, September 16th. Wells Fargo & Company upped their price target on shares of Xcel Energy from $57.00 to $63.00 and gave the company an equal weight rating in a research report on Friday, August 2nd. Argus raised shares of Xcel Energy from a hold rating to a buy rating and set a $68.00 price objective on the stock in a report on Monday, August 26th. Finally, Morgan Stanley boosted their target price on shares of Xcel Energy from $62.00 to $68.00 and gave the company an equal weight rating in a research report on Friday, August 23rd. Eight analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of Hold and a consensus target price of $63.79.

Xcel Energy Price Performance

Shares of NASDAQ:XEL opened at $64.13 on Thursday. The company has a quick ratio of 0.86, a current ratio of 0.97 and a debt-to-equity ratio of 1.54. The stock has a market cap of $35.63 billion, a PE ratio of 19.26, a PEG ratio of 2.81 and a beta of 0.38. The company’s fifty day moving average is $59.89 and its 200 day moving average is $55.91. Xcel Energy has a 52 week low of $46.79 and a 52 week high of $64.95.

Xcel Energy (NASDAQ:XEL) last released its quarterly earnings data on Thursday, August 1st. The company reported $0.54 earnings per share for the quarter, missing the consensus estimate of $0.57 by ($0.03). The business had revenue of $3.03 billion during the quarter, compared to analysts’ expectations of $3.29 billion. Xcel Energy had a return on equity of 10.94% and a net margin of 13.46%. The company’s quarterly revenue was up .2% compared to the same quarter last year. During the same quarter last year, the business posted $0.52 EPS. Research analysts anticipate that Xcel Energy will post 3.55 earnings per share for the current year.

Xcel Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, October 20th. Investors of record on Friday, September 13th will be paid a dividend of $0.548 per share. This represents a $2.19 annualized dividend and a yield of 3.42%. The ex-dividend date is Friday, September 13th. This is a boost from Xcel Energy’s previous quarterly dividend of $0.55. Xcel Energy’s dividend payout ratio is currently 65.77%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD boosted its stake in shares of Xcel Energy by 770.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 7,552,625 shares of the company’s stock valued at $405,955,000 after purchasing an additional 6,684,499 shares during the period. Jupiter Asset Management Ltd. purchased a new position in Xcel Energy in the 1st quarter valued at approximately $80,283,000. Federated Hermes Inc. grew its stake in shares of Xcel Energy by 120.2% in the second quarter. Federated Hermes Inc. now owns 2,379,615 shares of the company’s stock worth $127,095,000 after acquiring an additional 1,299,025 shares in the last quarter. American Century Companies Inc. increased its position in shares of Xcel Energy by 130.4% during the second quarter. American Century Companies Inc. now owns 2,084,345 shares of the company’s stock worth $111,325,000 after acquiring an additional 1,179,823 shares during the period. Finally, Zimmer Partners LP raised its stake in shares of Xcel Energy by 1,765.0% in the first quarter. Zimmer Partners LP now owns 932,505 shares of the company’s stock valued at $50,122,000 after acquiring an additional 882,505 shares in the last quarter. 78.38% of the stock is currently owned by institutional investors and hedge funds.

About Xcel Energy

Xcel Energy Inc, through its subsidiaries, engages in the generation, purchasing, transmission, distribution, and sale of electricity. It operates through Regulated Electric Utility, Regulated Natural Gas Utility, and All Other segments. The company generates electricity through wind, nuclear, hydroelectric, biomass, and solar energy sources, as well as coal, natural gas, oil, wood, and refuse-derived fuels.