Xcel Energy (NASDAQ:XEL) Sees Strong Trading Volume on Analyst Upgrade

Shares of Xcel Energy Inc. (NASDAQ:XEL) saw an uptick in trading volume on Monday after KeyCorp raised their price target on the stock from $69.00 to $74.00. KeyCorp currently has an overweight rating on the stock. 6,789,070 shares traded hands during mid-day trading, an increase of 63% from the previous session’s volume of 4,177,051 shares.The stock last traded at $65.36 and had previously closed at $66.69.

A number of other brokerages have also commented on XEL. Argus upgraded Xcel Energy from a “hold” rating to a “buy” rating and set a $68.00 price target on the stock in a report on Monday, August 26th. Jefferies Financial Group upgraded Xcel Energy from a “hold” rating to a “buy” rating and lifted their price target for the stock from $71.00 to $76.00 in a report on Friday. Morgan Stanley lifted their price target on Xcel Energy from $68.00 to $73.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 25th. Wells Fargo & Company lifted their price target on Xcel Energy from $63.00 to $66.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 16th. Finally, Barclays boosted their target price on Xcel Energy from $57.00 to $67.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Xcel Energy has a consensus rating of “Moderate Buy” and a consensus target price of $66.38.

Hedge Funds Weigh In On Xcel Energy

Large investors have recently modified their holdings of the company. Transcendent Capital Group LLC bought a new position in Xcel Energy during the 3rd quarter worth approximately $33,000. TruNorth Capital Management LLC bought a new position in Xcel Energy during the 2nd quarter worth approximately $30,000. American National Bank bought a new position in Xcel Energy during the 2nd quarter worth approximately $32,000. Kimelman & Baird LLC bought a new position in Xcel Energy during the 2nd quarter worth approximately $35,000. Finally, West Financial Advisors LLC bought a new position in Xcel Energy during the 3rd quarter worth approximately $43,000. 78.38% of the stock is owned by hedge funds and other institutional investors.

Xcel Energy Trading Down 2.0 %

The firm has a 50-day moving average of $63.61 and a 200-day moving average of $58.33. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.86 and a current ratio of 0.97. The firm has a market capitalization of $36.43 billion, a P/E ratio of 19.79, a price-to-earnings-growth ratio of 2.94 and a beta of 0.38.

Xcel Energy (NASDAQ:XEL) last issued its quarterly earnings data on Thursday, October 31st. The company reported $1.25 earnings per share for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.01). The business had revenue of $3.64 billion during the quarter, compared to the consensus estimate of $3.93 billion. Xcel Energy had a return on equity of 10.99% and a net margin of 13.67%. Xcel Energy’s quarterly revenue was down .5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.23 earnings per share. On average, equities research analysts anticipate that Xcel Energy Inc. will post 3.55 EPS for the current fiscal year.

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.