Xcel Energy (NASDAQ:XEL) Price Target Lowered to $69.00 at Barclays

Xcel Energy (NASDAQ:XEL) had its price objective reduced by Barclays from $71.00 to $69.00 in a research note issued to investors on Wednesday morning,Benzinga reports. Barclays currently has an overweight rating on the stock.

Several other equities analysts have also recently weighed in on the company. Jefferies Financial Group raised Xcel Energy from a “hold” rating to a “buy” rating and increased their price target for the company from $71.00 to $76.00 in a report on Friday, November 1st. Morgan Stanley dropped their target price on Xcel Energy from $74.00 to $72.00 and set an “equal weight” rating on the stock in a research report on Friday, November 22nd. JPMorgan Chase & Co. raised shares of Xcel Energy from a “neutral” rating to an “overweight” rating and upped their price target for the company from $69.00 to $80.00 in a research report on Thursday, December 12th. Wells Fargo & Company upgraded shares of Xcel Energy from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $70.00 to $72.00 in a research note on Monday, January 13th. Finally, KeyCorp lifted their price objective on Xcel Energy from $74.00 to $79.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $69.50.

Xcel Energy Trading Down 1.0 %

Xcel Energy stock opened at $66.98 on Wednesday. Xcel Energy has a one year low of $46.79 and a one year high of $73.38. The business’s fifty day moving average is $68.35 and its 200 day moving average is $63.86. The stock has a market capitalization of $38.46 billion, a PE ratio of 19.88, a price-to-earnings-growth ratio of 2.53 and a beta of 0.42. 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 announced its quarterly earnings results on Thursday, October 31st. The company reported $1.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.01). The company had revenue of $3.64 billion for the quarter, compared to analysts’ expectations of $3.93 billion. Xcel Energy had a net margin of 13.67% and a return on equity of 10.76%. The business’s revenue was down .5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.23 EPS. On average, sell-side analysts predict that Xcel Energy will post 3.54 EPS for the current year.

Xcel Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 29th. Shareholders of record on Monday, January 6th will be paid a dividend of $0.5475 per share. The ex-dividend date is Monday, January 6th. This represents a $2.19 annualized dividend and a yield of 3.27%. Xcel Energy’s payout ratio is currently 64.99%.

Hedge Funds Weigh In On Xcel Energy

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Perigon Wealth Management LLC lifted its position in Xcel Energy by 4.0% in the fourth quarter. Perigon Wealth Management LLC now owns 5,937 shares of the company’s stock worth $393,000 after buying an additional 231 shares during the last quarter. Mount Yale Investment Advisors LLC lifted its holdings in shares of Xcel Energy by 17.9% in the 4th quarter. Mount Yale Investment Advisors LLC now owns 4,676 shares of the company’s stock worth $316,000 after acquiring an additional 711 shares during the last quarter. Pacer Advisors Inc. boosted its stake in shares of Xcel Energy by 11.5% during the 4th quarter. Pacer Advisors Inc. now owns 76,390 shares of the company’s stock worth $5,158,000 after purchasing an additional 7,873 shares during the period. Blue Trust Inc. grew its holdings in Xcel Energy by 53.2% during the 4th quarter. Blue Trust Inc. now owns 10,450 shares of the company’s stock valued at $682,000 after purchasing an additional 3,630 shares during the last quarter. Finally, CFS Investment Advisory Services LLC purchased a new stake in Xcel Energy in the 4th quarter worth about $207,000. 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.