Xcel Energy (NASDAQ:XEL) Coverage Initiated by Analysts at Jefferies Financial Group

Jefferies Financial Group assumed coverage on shares of Xcel Energy (NASDAQ:XEL) in a report published on Thursday, Marketbeat Ratings reports. The firm issued a hold rating and a $70.00 price target on the stock.

Several other brokerages have also recently issued reports on XEL. Wells Fargo & Company increased their price objective on Xcel Energy from $57.00 to $63.00 and gave the company an equal weight rating in a research note on Friday, August 2nd. Argus upgraded Xcel Energy from a hold rating to a buy rating and set a $68.00 price target on the stock in a research note on Monday, August 26th. KeyCorp raised their price target on Xcel Energy from $65.00 to $66.00 and gave the company an overweight rating in a research note on Monday, September 16th. Finally, Morgan Stanley raised their price target on Xcel Energy from $62.00 to $68.00 and gave the company an equal weight rating in a research note on Friday, August 23rd. Eight investment 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 stock has a consensus rating of Hold and a consensus target price of $63.79.

Xcel Energy Stock Up 0.1 %

Shares of NASDAQ XEL opened at $64.13 on Thursday. The stock has a market cap of $35.63 billion, a P/E ratio of 19.26, a PEG ratio of 2.81 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. Xcel Energy has a 12-month low of $46.79 and a 12-month high of $64.95. The business’s fifty day simple moving average is $59.89 and its 200-day simple moving average is $55.96.

Xcel Energy (NASDAQ:XEL) last announced its quarterly earnings data 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). The company had revenue of $3.03 billion during the quarter, compared to analyst estimates of $3.29 billion. Xcel Energy had a net margin of 13.46% and a return on equity of 10.94%. The firm’s revenue was up .2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.52 earnings per share. As a group, equities analysts predict that Xcel Energy will post 3.55 EPS for the current fiscal year.

Xcel Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, October 20th. Shareholders of record on Friday, September 13th will be given a dividend of $0.548 per share. This represents a $2.19 dividend on an annualized basis and a yield of 3.42%. This is a boost from Xcel Energy’s previous quarterly dividend of $0.55. The ex-dividend date is Friday, September 13th. Xcel Energy’s dividend payout ratio (DPR) is presently 65.77%.

Hedge Funds Weigh In On Xcel Energy

Hedge funds and other institutional investors have recently bought and sold shares of the company. Gateway Wealth Partners LLC boosted its holdings in Xcel Energy by 4.3% in the 2nd quarter. Gateway Wealth Partners LLC now owns 4,413 shares of the company’s stock valued at $236,000 after purchasing an additional 182 shares in the last quarter. Epiq Partners LLC grew its holdings in Xcel Energy by 0.7% during the first quarter. Epiq Partners LLC now owns 29,072 shares of the company’s stock worth $1,563,000 after acquiring an additional 202 shares during the period. Avantax Advisory Services Inc. raised its position in Xcel Energy by 1.3% in the first quarter. Avantax Advisory Services Inc. now owns 16,054 shares of the company’s stock worth $863,000 after acquiring an additional 212 shares in the last quarter. Chicago Partners Investment Group LLC lifted its holdings in Xcel Energy by 3.7% in the fourth quarter. Chicago Partners Investment Group LLC now owns 6,249 shares of the company’s stock valued at $364,000 after acquiring an additional 222 shares during the period. Finally, Bailard Inc. boosted its position in shares of Xcel Energy by 2.0% during the 2nd quarter. Bailard Inc. now owns 12,074 shares of the company’s stock worth $645,000 after purchasing an additional 242 shares in the last quarter. 78.38% of the stock is currently owned by hedge funds and other institutional investors.

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.