Xcel Energy (NYSE:XEL) Price Target Raised to $73.00

Xcel Energy (NYSE:XEL) had its target price hoisted by KeyCorp from $67.00 to $73.00 in a research note released on Monday morning, BenzingaRatingsTable reports. The firm currently has an overweight rating on the utilities provider’s stock.

A number of other equities research analysts have also recently commented on XEL. SunTrust Banks set a $63.00 price target on shares of Xcel Energy and gave the company a hold rating in a report on Tuesday, September 3rd. Bank of America cut shares of Xcel Energy from a neutral rating to an underperform rating and set a $62.00 price target on the stock. in a report on Monday, September 30th. Morgan Stanley increased their price target on shares of Xcel Energy from $60.00 to $63.00 and gave the company an equal weight rating in a report on Friday, September 6th. UBS Group increased their price target on shares of Xcel Energy from $63.00 to $66.00 and gave the company a neutral rating in a report on Friday, September 6th. Finally, Barclays cut shares of Xcel Energy from an overweight rating to an equal weight rating and set a $64.00 target price on the stock. in a report on Tuesday, August 13th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the stock. The stock presently has an average rating of Hold and a consensus target price of $64.20.

Shares of NYSE:XEL traded down $0.21 during trading on Monday, reaching $64.08. 207,883 shares of the stock traded hands, compared to its average volume of 3,240,134. The stock has a 50-day moving average of $64.15 and a two-hundred day moving average of $60.39. Xcel Energy has a 52-week low of $47.44 and a 52-week high of $66.05.

Xcel Energy (NYSE:XEL) last posted its quarterly earnings results on Thursday, August 1st. The utilities provider reported $0.46 EPS for the quarter, missing the Zacks’ consensus estimate of $0.53 by ($0.07). The firm had revenue of $2.58 billion for the quarter, compared to analysts’ expectations of $2.84 billion. During the same quarter last year, the firm posted $0.52 EPS. The firm’s revenue was down 3.0% on a year-over-year basis.

The business also recently announced a quarterly dividend, which was paid on Sunday, October 20th. Investors of record on Friday, September 13th were issued a $0.405 dividend. This represents a $1.62 annualized dividend and a yield of 2.53%. The ex-dividend date was Thursday, September 12th.

In other Xcel Energy news, EVP Kent T. Larson sold 25,000 shares of the stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $64.25, for a total value of $1,606,250.00. Following the transaction, the executive vice president now directly owns 75,354 shares in the company, valued at $4,841,494.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Scott M. Wilensky sold 15,000 shares of the stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $61.71, for a total transaction of $925,650.00. The disclosure for this sale can be found here. Insiders sold 49,382 shares of company stock worth $3,133,045 in the last 90 days. 0.22% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in XEL. Magellan Asset Management Ltd raised its position in Xcel Energy by 233.3% in the second quarter. Magellan Asset Management Ltd now owns 11,720,869 shares of the utilities provider’s stock worth $697,274,000 after acquiring an additional 8,204,411 shares during the period. Scout Investments Inc. raised its position in Xcel Energy by 196.1% in the second quarter. Scout Investments Inc. now owns 1,967,843 shares of the utilities provider’s stock worth $117,067,000 after acquiring an additional 1,303,156 shares during the period. JPMorgan Chase & Co. raised its position in Xcel Energy by 2.3% in the second quarter. JPMorgan Chase & Co. now owns 40,037,447 shares of the utilities provider’s stock worth $2,373,420,000 after acquiring an additional 918,607 shares during the period. Carillon Tower Advisers Inc. raised its position in Xcel Energy by 202.6% in the second quarter. Carillon Tower Advisers Inc. now owns 1,349,000 shares of the utilities provider’s stock worth $80,252,000 after acquiring an additional 903,125 shares during the period. Finally, California Public Employees Retirement System raised its position in Xcel Energy by 18.2% in the second quarter. California Public Employees Retirement System now owns 3,940,117 shares of the utilities provider’s stock worth $234,398,000 after acquiring an additional 608,069 shares during the period. Institutional investors and hedge funds own 73.96% of the company’s stock.

Xcel Energy Company Profile

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.

Recommended Story: Does the Dogs of the Dow strategy work?

Analyst Recommendations for Xcel Energy (NYSE:XEL)

Receive News & Ratings for Xcel Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Xcel Energy and related companies with MarketBeat.com's FREE daily email newsletter.