Xcel Energy (NASDAQ:XEL) Given New $67.00 Price Target at Barclays

Xcel Energy (NASDAQ:XEL) had its price target upped by Barclays from $57.00 to $67.00 in a research note released on Monday, Benzinga reports. The firm currently has an overweight rating on the stock.

Several other brokerages have also recently weighed in on XEL. KeyCorp lifted their price target on Xcel Energy from $66.00 to $69.00 and gave the company an “overweight” rating in a research report on Monday, September 30th. Morgan Stanley raised their target price on Xcel Energy from $68.00 to $73.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 25th. UBS Group upped their price target on Xcel Energy from $66.00 to $67.00 and gave the company a “neutral” rating in a research report on Friday, September 20th. Argus upgraded shares of Xcel Energy from a “hold” rating to a “buy” rating and set a $68.00 price objective for the company in a research report on Monday, August 26th. Finally, Jefferies Financial Group assumed coverage on shares of Xcel Energy in a report on Thursday, September 19th. They set a “hold” rating and a $70.00 target price on the stock. Eight investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Xcel Energy currently has a consensus rating of “Hold” and a consensus target price of $65.29.

Xcel Energy Price Performance

NASDAQ XEL opened at $64.32 on Monday. The company has a quick ratio of 0.86, a current ratio of 0.97 and a debt-to-equity ratio of 1.54. The company has a market cap of $35.74 billion, a PE ratio of 19.32, a price-to-earnings-growth ratio of 2.75 and a beta of 0.39. Xcel Energy has a 52 week low of $46.79 and a 52 week high of $65.64. The firm’s 50-day simple moving average is $62.91 and its two-hundred day simple moving average is $57.74.

Xcel Energy (NASDAQ:XEL) last posted its quarterly earnings results 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 business had revenue of $3.03 billion during the quarter, compared to the consensus estimate of $3.29 billion. Xcel Energy had a net margin of 13.46% and a return on equity of 10.94%. The business’s revenue for the quarter was up .2% on a year-over-year basis. During the same period last year, the firm earned $0.52 EPS. Research analysts predict that Xcel Energy will post 3.55 earnings per share for the current year.

Xcel Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, October 20th. Shareholders of record on Friday, September 13th were given a dividend of $0.548 per share. This is an increase from Xcel Energy’s previous quarterly dividend of $0.55. The ex-dividend date was Friday, September 13th. This represents a $2.19 dividend on an annualized basis and a yield of 3.41%. Xcel Energy’s dividend payout ratio (DPR) is presently 65.77%.

Hedge Funds Weigh In On Xcel Energy

A number of large investors have recently modified their holdings of the company. TruNorth Capital Management LLC bought a new position in Xcel Energy during the second quarter valued at approximately $30,000. American National Bank bought a new position in shares of Xcel Energy during the 2nd quarter valued at $32,000. Kimelman & Baird LLC purchased a new position in Xcel Energy in the 2nd quarter worth $35,000. Rothschild Investment LLC bought a new stake in Xcel Energy in the second quarter worth $37,000. Finally, Voisard Asset Management Group Inc. purchased a new stake in Xcel Energy during the second quarter valued at about $43,000. 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.