Xcel Energy (NASDAQ:XEL) Stock Rated Buy in New Coverage at HSBC

by · The Markets Daily

Research analysts at HSBC assumed coverage on shares of Xcel Energy (NASDAQ:XEL – Get Free Report) in a note issued to investors on Thursday, MarketBeat reports. The firm set a “buy” rating and a $89.00 price target on the stock. HSBC’s price target would indicate a potential upside of 15.92% from the company’s current price.

Several other research firms have also commented on XEL. Barclays cut their target price on shares of Xcel Energy from $90.00 to $85.00 and set an “overweight” rating for the company in a research note on Thursday, October 15th. Jefferies Financial Group reaffirmed a “buy” rating and set a $99.00 target price on shares of Xcel Energy in a report on Tuesday. Wall Street Zen upgraded Xcel Energy from a “sell” rating to a “hold” rating in a research report on Saturday, September 26th. BMO Capital Markets dropped their price target on Xcel Energy from $91.00 to $86.00 and set an “outperform” rating on the stock in a research note on Tuesday. Finally, JPMorgan Chase & Co. boosted their price objective on Xcel Energy from $91.00 to $102.00 and gave the stock an “overweight” rating in a report on Thursday, July 16th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $89.53.

Check Out Our Latest Report on XEL

Xcel Energy Price Performance

Shares of Xcel Energy stock opened at $76.78 on Thursday. Xcel Energy has a 52 week low of $68.72 and a 52 week high of $84.23. The company has a current ratio of 0.70, a quick ratio of 0.62 and a debt-to-equity ratio of 1.49. The stock has a market cap of $47.96 billion, a PE ratio of 21.04, a price-to-earnings-growth ratio of 2.55 and a beta of 0.36. The company’s 50-day moving average price is $74.71 and its two-hundred day moving average price is $77.88.

Xcel Energy (NASDAQ:XEL – Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The company reported $0.93 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.14. The company had revenue of $3.12 billion during the quarter, compared to analyst estimates of $3.54 billion. Xcel Energy had a net margin of 15.28% and a return on equity of 10.65%. The business’s revenue for the quarter was down 5.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.59 EPS. As a group, sell-side analysts anticipate that Xcel Energy will post 4.13 EPS for the current fiscal year.

Institutional Investors Weigh In On Xcel Energy

Large investors have recently bought and sold shares of the business. Kachkovsky & Fisher Inc. acquired a new position in Xcel Energy during the 3rd quarter worth $236,000. Axxcess Wealth Management LLC bought a new stake in shares of Xcel Energy in the 3rd quarter valued at about $251,000. Sowell Financial Services LLC grew its holdings in shares of Xcel Energy by 5.2% in the 3rd quarter. Sowell Financial Services LLC now owns 4,876 shares of the company’s stock valued at $344,000 after buying an additional 243 shares during the period. City State Bank grew its position in shares of Xcel Energy by 6.8% in the 3rd quarter. City State Bank now owns 2,780 shares of the company’s stock valued at $196,000 after purchasing an additional 178 shares during the period. Finally, Pinnacle Associates Ltd. increased its stake in Xcel Energy by 6.0% during the 3rd quarter. Pinnacle Associates Ltd. now owns 3,018 shares of the company’s stock worth $213,000 after purchasing an additional 172 shares in the last quarter. 78.38% of the stock is currently owned by institutional investors.

About Xcel Energy

(Get Free Report)

Xcel Energy Inc is a public utility holding company that provides electricity and natural gas services to residential, commercial, and industrial customers. Its operations include the generation, transmission, distribution, and sale of electricity, as well as the distribution and sale of natural gas.

The company serves customers across Colorado, Michigan, Minnesota, New Mexico, North Dakota, South Dakota, Texas, and Wisconsin through operating companies including Northern States Power, Public Service Company of Colorado, Southwestern Public Service Company, and NSP-Wisconsin.

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