JPMorgan Chase & Co. Lowers Xcel Energy (NASDAQ:XEL) Price Target to $87.00

Xcel Energy (NASDAQ:XEL) had its target price reduced by JPMorgan Chase & Co. from $90.00 to $87.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 16.47% from the stock’s previous close.

A number of other equities research analysts have also weighed in on XEL. Barclays raised their price objective on shares of Xcel Energy from $83.00 to $85.00 and gave the company an “overweight” rating in a report on Wednesday, November 5th. BMO Capital Markets raised their price target on Xcel Energy from $84.00 to $87.00 and gave the company an “outperform” rating in a research note on Wednesday, October 15th. Royal Bank Of Canada started coverage on Xcel Energy in a research report on Tuesday, October 28th. They set a “moderate buy” rating for the company. KeyCorp raised their target price on Xcel Energy from $79.00 to $85.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 15th. Finally, Argus raised shares of Xcel Energy to a “strong-buy” rating in a research report on Wednesday, December 3rd. Three investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Xcel Energy currently has an average rating of “Buy” and a consensus target price of $87.64.

Xcel Energy Stock Up 0.1%

NASDAQ XEL traded up $0.08 during trading hours on Thursday, hitting $74.70. 2,372,754 shares of the company were exchanged, compared to its average volume of 4,008,446. The company has a quick ratio of 0.69, a current ratio of 0.79 and a debt-to-equity ratio of 1.51. The firm has a market cap of $44.19 billion, a price-to-earnings ratio of 22.77, a PEG ratio of 2.24 and a beta of 0.45. The company has a 50 day moving average of $80.23 and a two-hundred day moving average of $74.38. Xcel Energy has a 52-week low of $62.58 and a 52-week high of $83.01.

Xcel Energy (NASDAQ:XEL) last announced its quarterly earnings data on Wednesday, October 29th. The company reported $1.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.32 by ($0.08). Xcel Energy had a net margin of 13.46% and a return on equity of 10.45%. The company had revenue of $3.92 billion during the quarter, compared to analysts’ expectations of $3.89 billion. During the same quarter in the previous year, the business posted $1.25 EPS. The business’s quarterly revenue was up 7.4% compared to the same quarter last year. Equities research analysts anticipate that Xcel Energy will post 3.82 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Brighton Jones LLC purchased a new position in shares of Xcel Energy during the fourth quarter valued at approximately $240,000. Independent Advisor Alliance lifted its stake in shares of Xcel Energy by 9.7% during the 1st quarter. Independent Advisor Alliance now owns 10,622 shares of the company’s stock worth $752,000 after purchasing an additional 938 shares during the period. HighTower Advisors LLC boosted its holdings in shares of Xcel Energy by 13.9% during the first quarter. HighTower Advisors LLC now owns 103,240 shares of the company’s stock worth $7,308,000 after purchasing an additional 12,636 shares during the last quarter. Resona Asset Management Co. Ltd. grew its position in shares of Xcel Energy by 9.6% in the first quarter. Resona Asset Management Co. Ltd. now owns 197,047 shares of the company’s stock valued at $13,920,000 after purchasing an additional 17,263 shares during the period. Finally, National Pension Service grew its position in shares of Xcel Energy by 3.1% in the first quarter. National Pension Service now owns 637,056 shares of the company’s stock valued at $45,097,000 after purchasing an additional 19,396 shares during the period. 78.38% of the stock is 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.