KeyCorp Raises Xcel Energy (NASDAQ:XEL) Price Target to $69.00

Xcel Energy (NASDAQ:XEL) had its price objective boosted by KeyCorp from $66.00 to $69.00 in a report released on Monday, Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other brokerages have also issued reports on XEL. Jefferies Financial Group initiated coverage on Xcel Energy in a research report on Thursday, September 19th. They set a hold rating and a $70.00 target price for the company. Wells Fargo & Company boosted their target price on Xcel Energy from $57.00 to $63.00 and gave the company an equal weight rating in a research report on Friday, August 2nd. Morgan Stanley boosted their target price on Xcel Energy from $68.00 to $73.00 and gave the company an equal weight rating in a research report on Wednesday, September 25th. Argus upgraded Xcel Energy from a hold rating to a buy rating and set a $68.00 target price for the company in a research report on Monday, August 26th. Finally, UBS Group lifted their price target on shares of Xcel Energy from $66.00 to $67.00 and gave the company a neutral rating in a research note on Friday, September 20th. Eight investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of Hold and a consensus price target of $64.36.

Xcel Energy Price Performance

Shares of XEL opened at $65.15 on Monday. The firm has a market cap of $36.20 billion, a PE ratio of 19.56, a P/E/G ratio of 2.82 and a beta of 0.38. The company has a current ratio of 0.97, a quick ratio of 0.86 and a debt-to-equity ratio of 1.54. The firm has a fifty day simple moving average of $61.40 and a two-hundred day simple moving average of $56.65. Xcel Energy has a 1-year low of $46.79 and a 1-year high of $65.64.

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

Xcel Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, October 20th. Shareholders of record on Friday, September 13th will be paid a $0.548 dividend. The ex-dividend date is Friday, September 13th. This is a positive change from Xcel Energy’s previous quarterly dividend of $0.55. This represents a $2.19 dividend on an annualized basis and a yield of 3.36%. Xcel Energy’s payout ratio is currently 65.77%.

Institutional Trading of Xcel Energy

Several hedge funds and other institutional investors have recently made changes to their positions in XEL. Quarry LP purchased a new stake in Xcel Energy during the fourth quarter worth about $34,000. TruNorth Capital Management LLC purchased a new stake in Xcel Energy during the second quarter worth about $30,000. American National Bank purchased a new stake in Xcel Energy during the second quarter worth about $32,000. Kimelman & Baird LLC acquired a new position in Xcel Energy during the second quarter worth about $35,000. Finally, Rothschild Investment LLC acquired a new position in Xcel Energy during the second quarter worth about $37,000. Hedge funds and other institutional investors own 78.38% of the company’s stock.

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.