Xcel Energy (NASDAQ:XEL) Sees Strong Trading Volume on Analyst Upgrade

Shares of Xcel Energy Inc. (NASDAQ:XEL) saw unusually-high trading volume on Monday after KeyCorp raised their price target on the stock from $69.00 to $74.00. KeyCorp currently has an overweight rating on the stock. Approximately 6,789,070 shares were traded during trading, an increase of 63% from the previous session’s volume of 4,177,051 shares.The stock last traded at $65.36 and had previously closed at $66.69.

A number of other research analysts have also recently issued reports on XEL. Jefferies Financial Group upgraded Xcel Energy from a “hold” rating to a “buy” rating and lifted their price objective for the company from $71.00 to $76.00 in a research note on Friday. Barclays lifted their price objective on Xcel Energy from $57.00 to $67.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. Morgan Stanley lifted their price objective on Xcel Energy from $68.00 to $73.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 25th. UBS Group lifted their price objective on Xcel Energy from $66.00 to $67.00 and gave the company a “neutral” rating in a research note on Friday, September 20th. Finally, Wells Fargo & Company lifted their price objective on Xcel Energy from $63.00 to $66.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 16th. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $66.38.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of XEL. Transcendent Capital Group LLC bought a new stake in shares of Xcel Energy in the third quarter worth $33,000. Covestor Ltd grew its holdings in Xcel Energy by 481.9% during the third quarter. Covestor Ltd now owns 2,822 shares of the company’s stock valued at $184,000 after purchasing an additional 2,337 shares during the period. Mesirow Financial Investment Management Inc. grew its holdings in Xcel Energy by 100.4% during the third quarter. Mesirow Financial Investment Management Inc. now owns 8,522 shares of the company’s stock valued at $557,000 after purchasing an additional 4,270 shares during the period. Assetmark Inc. grew its holdings in Xcel Energy by 9.1% during the third quarter. Assetmark Inc. now owns 139,430 shares of the company’s stock valued at $9,105,000 after purchasing an additional 11,604 shares during the period. Finally, Verdence Capital Advisors LLC grew its holdings in Xcel Energy by 3.0% during the third quarter. Verdence Capital Advisors LLC now owns 21,821 shares of the company’s stock valued at $1,425,000 after purchasing an additional 633 shares during the period. Hedge funds and other institutional investors own 78.38% of the company’s stock.

Xcel Energy Stock Down 2.0 %

The company has a fifty day simple moving average of $63.61 and a 200-day simple moving average of $58.33. 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 firm has a market cap of $36.43 billion, a P/E ratio of 19.79, a price-to-earnings-growth ratio of 2.94 and a beta of 0.38.

Xcel Energy (NASDAQ:XEL) last released its quarterly earnings results on Thursday, October 31st. The company reported $1.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.26 by ($0.01). Xcel Energy had a net margin of 13.67% and a return on equity of 10.99%. The company had revenue of $3.64 billion for the quarter, compared to the consensus estimate of $3.93 billion. During the same period in the prior year, the firm posted $1.23 EPS. The business’s revenue for the quarter was down .5% on a year-over-year basis. On average, equities analysts anticipate that Xcel Energy Inc. will post 3.55 earnings per share for the current year.

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.