Xcel Energy (NASDAQ:XEL) Price Target Cut to $91.00 by Analysts at JPMorgan Chase & Co.

Xcel Energy (NASDAQ:XEL) had its price objective dropped by research analysts at JPMorgan Chase & Co. from $94.00 to $91.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 13.91% from the company’s current price.

Several other equities analysts have also commented on XEL. Wall Street Zen lowered Xcel Energy from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Morgan Stanley set a $92.00 price objective on shares of Xcel Energy in a research report on Tuesday, April 21st. BTIG Research set a $94.00 price target on shares of Xcel Energy in a research note on Friday, January 30th. Barclays dropped their price target on shares of Xcel Energy from $91.00 to $87.00 and set an “overweight” rating on the stock in a research note on Tuesday. Finally, BMO Capital Markets lifted their price target on shares of Xcel Energy from $90.00 to $94.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 22nd. Four equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Xcel Energy presently has a consensus rating of “Buy” and an average target price of $91.13.

Xcel Energy Trading Down 0.0%

NASDAQ:XEL traded down $0.02 on Thursday, reaching $79.89. The stock had a trading volume of 2,425,007 shares, compared to its average volume of 4,930,834. The company has a market cap of $49.87 billion, a price-to-earnings ratio of 23.02, a P/E/G ratio of 2.08 and a beta of 0.41. The company has a debt-to-equity ratio of 1.45, a current ratio of 0.77 and a quick ratio of 0.68. The firm’s fifty day moving average is $80.29 and its two-hundred day moving average is $78.67. Xcel Energy has a 12-month low of $65.21 and a 12-month high of $84.23.

Xcel Energy (NASDAQ:XEL) last released its earnings results on Wednesday, April 29th. The company reported $0.91 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.91. The company had revenue of $4.02 billion for the quarter, compared to analyst estimates of $4.21 billion. Xcel Energy had a net margin of 14.14% and a return on equity of 10.37%. The firm’s quarterly revenue was up 2.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.84 EPS. Equities analysts expect that Xcel Energy will post 4.11 EPS for the current fiscal year.

Hedge Funds Weigh In On Xcel Energy

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of Xcel Energy by 2.7% during the 3rd quarter. Vanguard Group Inc. now owns 76,725,720 shares of the company’s stock worth $6,187,929,000 after purchasing an additional 2,001,018 shares in the last quarter. Cibc World Market Inc. acquired a new stake in shares of Xcel Energy during the 3rd quarter worth about $6,994,000. BI Asset Management Fondsmaeglerselskab A S increased its position in shares of Xcel Energy by 86.6% during the 3rd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 41,406 shares of the company’s stock worth $3,339,000 after purchasing an additional 19,214 shares in the last quarter. USA Financial Formulas increased its position in shares of Xcel Energy by 491.3% during the 4th quarter. USA Financial Formulas now owns 21,435 shares of the company’s stock worth $1,583,000 after purchasing an additional 17,810 shares in the last quarter. Finally, Intact Investment Management Inc. increased its position in shares of Xcel Energy by 23.1% during the 3rd quarter. Intact Investment Management Inc. now owns 83,100 shares of the company’s stock worth $6,702,000 after purchasing an additional 15,600 shares in the last quarter. Institutional investors and hedge funds own 78.38% of the company’s stock.

About Xcel Energy

Xcel Energy (NASDAQ: XEL) is a Minneapolis-based, publicly traded utility holding company that develops, owns and operates regulated electricity and natural gas delivery systems. The company’s core activities include generation, transmission and distribution of electricity, the delivery of natural gas to customers, and related customer service operations. Xcel provides a mix of utility services to residential, commercial and industrial customers and participates in wholesale energy markets where appropriate.

Its generation portfolio combines nuclear, natural gas, coal and a growing share of renewable resources such as wind and solar.