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

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

A number of other equities analysts have also commented on XEL. Barclays reduced their price target on shares of 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 raised their price target on Xcel Energy from $74.00 to $79.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Wells Fargo & Company raised their price target on Xcel Energy from $72.00 to $75.00 and gave the stock an “overweight” rating in a research report on Friday, February 7th. Finally, JPMorgan Chase & Co. raised shares of Xcel Energy from a “neutral” rating to an “overweight” rating and lifted their price target 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 assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $71.70.

Xcel Energy Price Performance

Shares of XEL opened at $70.09 on Thursday. The firm has a market cap of $40.27 billion, a PE ratio of 20.38, a PEG ratio of 2.62 and a beta of 0.37. The firm’s 50 day moving average price is $68.09 and its 200 day moving average price is $66.96. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.82 and a current ratio of 0.93. Xcel Energy has a twelve month low of $51.58 and a twelve month high of $73.38.

Xcel Energy (NASDAQ:XEL) last posted its quarterly earnings data on Thursday, February 6th. The company reported $0.81 EPS for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.06). Xcel Energy had a return on equity of 10.65% and a net margin of 14.40%. As a group, research analysts expect that Xcel Energy will post 3.82 EPS for the current fiscal year.

Xcel Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, April 20th. Investors of record on Friday, March 14th will be issued a $0.57 dividend. The ex-dividend date is Friday, March 14th. This represents a $2.28 annualized dividend and a yield of 3.25%. This is a boost from Xcel Energy’s previous quarterly dividend of $0.55. Xcel Energy’s payout ratio is 66.28%.

Insider Buying and Selling at Xcel Energy

In other news, Director Devin W. Stockfish bought 2,170 shares of the company’s stock in a transaction dated Tuesday, March 11th. The shares were purchased at an average price of $68.93 per share, for a total transaction of $149,578.10. Following the completion of the purchase, the director now owns 3,007 shares in the company, valued at approximately $207,272.51. This represents a 259.26 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.09% of the company’s stock.

Institutional Trading of Xcel Energy

Several large investors have recently modified their holdings of XEL. Bank of America Corp DE increased its stake in Xcel Energy by 43.6% during the fourth quarter. Bank of America Corp DE now owns 20,762,745 shares of the company’s stock worth $1,401,901,000 after acquiring an additional 6,306,380 shares during the last quarter. FMR LLC boosted its position in Xcel Energy by 118.3% during the fourth quarter. FMR LLC now owns 6,608,044 shares of the company’s stock valued at $446,175,000 after purchasing an additional 3,581,436 shares in the last quarter. Zimmer Partners LP boosted its stake in Xcel Energy by 1,625.7% in the fourth quarter. Zimmer Partners LP now owns 3,667,200 shares of the company’s stock valued at $247,609,000 after acquiring an additional 3,454,700 shares in the last quarter. Pictet Asset Management Holding SA boosted its holdings in Xcel Energy by 236.7% in the fourth quarter. Pictet Asset Management Holding SA now owns 4,878,279 shares of the company’s stock worth $329,381,000 after acquiring an additional 3,429,353 shares in the last quarter. Finally, Janus Henderson Group PLC lifted its stake in shares of Xcel Energy by 379.3% during the fourth quarter. Janus Henderson Group PLC now owns 4,022,085 shares of the company’s stock worth $271,578,000 after buying an additional 3,182,939 shares during the period. 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.