Xcel Energy (NASDAQ:XEL) Given New $73.00 Price Target at Morgan Stanley

Xcel Energy (NASDAQ:XEL) had its price objective lifted by Morgan Stanley from $68.00 to $73.00 in a report released on Wednesday morning, Benzinga reports. They currently have an equal weight rating on the stock.

Several other research firms have also issued reports on XEL. Argus raised shares of Xcel Energy from a hold rating to a buy rating and set a $68.00 price target on the stock in a research report on Monday, August 26th. Jefferies Financial Group began coverage on shares of Xcel Energy in a research note on Thursday, September 19th. They set a hold rating and a $70.00 price objective for the company. UBS Group boosted their price objective 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. KeyCorp boosted their price objective on shares of Xcel Energy from $65.00 to $66.00 and gave the company an overweight rating in a research note on Monday, September 16th. Finally, Wells Fargo & Company boosted their price objective on shares of Xcel Energy from $57.00 to $63.00 and gave the company an equal weight rating in a research note on Friday, August 2nd. Eight research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Xcel Energy presently has an average rating of Hold and an average target price of $64.14.

Xcel Energy Stock Performance

NASDAQ XEL opened at $64.57 on Wednesday. The company’s 50 day moving average is $60.82 and its 200-day moving average is $56.37. Xcel Energy has a 12-month low of $46.79 and a 12-month high of $64.95. 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 $35.88 billion, a P/E ratio of 19.39, a price-to-earnings-growth ratio of 2.82 and a beta of 0.38.

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

Xcel Energy Increases Dividend

The business also recently declared 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. This represents a $2.19 dividend on an annualized basis and a yield of 3.39%. The ex-dividend date of this dividend is Friday, September 13th. This is a boost from Xcel Energy’s previous quarterly dividend of $0.55. Xcel Energy’s payout ratio is currently 65.77%.

Institutional Investors Weigh In On Xcel Energy

A number of institutional investors have recently made changes to their positions in the business. Gateway Wealth Partners LLC raised its holdings in Xcel Energy by 4.3% during the 2nd quarter. Gateway Wealth Partners LLC now owns 4,413 shares of the company’s stock valued at $236,000 after buying an additional 182 shares during the last quarter. Epiq Partners LLC raised its holdings in Xcel Energy by 0.7% during the 1st quarter. Epiq Partners LLC now owns 29,072 shares of the company’s stock valued at $1,563,000 after buying an additional 202 shares during the last quarter. Avantax Advisory Services Inc. raised its holdings in Xcel Energy by 1.3% during the 1st quarter. Avantax Advisory Services Inc. now owns 16,054 shares of the company’s stock valued at $863,000 after buying an additional 212 shares during the last quarter. Chicago Partners Investment Group LLC raised its holdings in Xcel Energy by 3.7% during the 4th quarter. Chicago Partners Investment Group LLC now owns 6,249 shares of the company’s stock valued at $364,000 after buying an additional 222 shares during the last quarter. Finally, Bailard Inc. raised its holdings in Xcel Energy by 2.0% during the 2nd quarter. Bailard Inc. now owns 12,074 shares of the company’s stock valued at $645,000 after buying an additional 242 shares during the last quarter. Hedge funds and other institutional investors own 78.38% of the company’s stock.

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.