Morgan Stanley Forecasts Strong Price Appreciation for Xcel Energy (NASDAQ:XEL) Stock

Xcel Energy (NASDAQ:XEL) had its price target hoisted by Morgan Stanley from $75.00 to $78.00 in a research report report published on Thursday morning,Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

XEL has been the topic of several other reports. Wells Fargo & Company raised their price target on Xcel Energy from $72.00 to $75.00 and gave the company an “overweight” rating in a research report on Friday, February 7th. Barclays lowered their price target on Xcel Energy from $71.00 to $69.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 22nd. KeyCorp lifted their target price on Xcel Energy from $74.00 to $79.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Finally, JPMorgan Chase & Co. raised Xcel Energy from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $69.00 to $80.00 in a research report on Thursday, December 12th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $72.30.

Xcel Energy Price Performance

NASDAQ XEL opened at $69.11 on Thursday. The firm has a market cap of $39.71 billion, a P/E ratio of 20.09, a price-to-earnings-growth ratio of 2.62 and a beta of 0.37. The stock’s 50-day moving average is $68.21 and its two-hundred day moving average is $67.05. Xcel Energy has a fifty-two week low of $51.58 and a fifty-two week high of $73.38. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.93 and a quick ratio of 0.82.

Xcel Energy (NASDAQ:XEL) last issued its quarterly earnings results on Thursday, February 6th. The company reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.06). Xcel Energy had a net margin of 14.40% and a return on equity of 10.65%. On average, analysts anticipate that Xcel Energy will post 3.82 earnings per share for the current fiscal year.

Xcel Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, April 20th. Shareholders of record on Friday, March 14th will be issued a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 3.30%. This is an increase from Xcel Energy’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend is Friday, March 14th. Xcel Energy’s payout ratio is presently 66.28%.

Insider Buying and Selling at Xcel Energy

In related news, Director Devin W. Stockfish acquired 2,170 shares of the firm’s stock in a transaction on Tuesday, March 11th. The shares were bought at an average cost of $68.93 per share, with a total value of $149,578.10. Following the completion of the acquisition, the director now owns 3,007 shares of the company’s stock, valued at $207,272.51. This trade represents a 259.26 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.09% of the company’s stock.

Institutional Investors Weigh In On Xcel Energy

A number of institutional investors have recently added to or reduced their stakes in the stock. 111 Capital acquired a new stake in Xcel Energy during the fourth quarter valued at approximately $430,000. Wealth Enhancement Advisory Services LLC raised its stake in shares of Xcel Energy by 3.3% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 399,308 shares of the company’s stock valued at $26,961,000 after acquiring an additional 12,646 shares during the last quarter. NorthCrest Asset Manangement LLC raised its stake in shares of Xcel Energy by 27.4% in the fourth quarter. NorthCrest Asset Manangement LLC now owns 4,018 shares of the company’s stock valued at $271,000 after acquiring an additional 863 shares during the last quarter. Anchor Pointe Wealth Management LLC bought a new position in shares of Xcel Energy in the fourth quarter valued at approximately $221,000. Finally, Siemens Fonds Invest GmbH raised its stake in shares of Xcel Energy by 169.1% in the fourth quarter. Siemens Fonds Invest GmbH now owns 92,047 shares of the company’s stock valued at $6,215,000 after acquiring an additional 57,837 shares during the last quarter. 78.38% of the stock is owned by institutional investors and hedge funds.

Xcel Energy Company Profile

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.