Xcel Energy Inc (NYSE:XEL)’s share price was down 8.3% during mid-day trading on Thursday after Morgan Stanley lowered their price target on the stock from $70.00 to $64.00. Morgan Stanley currently has an equal weight rating on the stock. Xcel Energy traded as low as $59.57 and last traded at $61.29, approximately 7,307,500 shares changed hands during mid-day trading. An increase of 96% from the average daily volume of 3,721,310 shares. The stock had previously closed at $66.82.
Several other equities research analysts have also weighed in on XEL. Wells Fargo & Co increased their price objective on shares of Xcel Energy from $70.00 to $77.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Cfra lifted their target price on Xcel Energy from $62.00 to $64.00 and gave the company a “sell” rating in a research note on Thursday, January 30th. KeyCorp lowered their target price on Xcel Energy from $73.00 to $66.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Bank of America raised Xcel Energy from an “underperform” rating to a “neutral” rating and set a $70.00 target price for the company in a report on Friday, January 31st. Finally, BMO Capital Markets initiated coverage on Xcel Energy in a research report on Wednesday, February 19th. They set a “market perform” rating and a $68.00 price target on the stock. One analyst has rated the stock with a sell rating, ten have issued a hold rating and three have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $65.14.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Firestone Capital Management bought a new stake in shares of Xcel Energy during the fourth quarter valued at about $100,000. Procyon Private Wealth Partners LLC acquired a new position in Xcel Energy during the 4th quarter valued at about $25,000. Manchester Financial Inc. bought a new stake in shares of Xcel Energy during the 4th quarter worth about $28,000. Braun Bostich & Associates Inc. bought a new stake in shares of Xcel Energy during the 4th quarter worth about $28,000. Finally, Executive Wealth Management LLC lifted its stake in shares of Xcel Energy by 47.7% in the 3rd quarter. Executive Wealth Management LLC now owns 703 shares of the utilities provider’s stock worth $45,000 after acquiring an additional 227 shares during the period. Hedge funds and other institutional investors own 73.96% of the company’s stock.
The firm’s fifty day moving average price is $68.45 and its 200-day moving average price is $64.46.
Xcel Energy (NYSE:XEL) last announced its earnings results on Thursday, January 30th. The utilities provider reported $0.56 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.53 by $0.03. The firm had revenue of $2.80 billion for the quarter, compared to the consensus estimate of $3.04 billion. Xcel Energy’s revenue for the quarter was down 2.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.42 EPS.
The company also recently declared a quarterly dividend, which will be paid on Monday, April 20th. Stockholders of record on Friday, March 13th will be given a dividend of $0.43 per share. The ex-dividend date is Thursday, March 12th. This is a boost from Xcel Energy’s previous quarterly dividend of $0.41. This represents a $1.72 annualized dividend and a dividend yield of 2.81%.
Xcel Energy Company Profile (NYSE:XEL)
Xcel Energy Inc is a public utility holding company. The Company’s operations include the activity of four utility subsidiaries that serve electric and natural gas customers in eight states. The Company’s segments include regulated electric utility, regulated natural gas utility and all other. The Company’s utility subsidiaries include NSP-Minnesota, NSP-Wisconsin, Public Service Company of Colorado (PSCo) and Southwestern Public Service Co (SPS), which serve customers in portions of Colorado, Michigan, Minnesota, New Mexico, North Dakota, South Dakota, Texas and Wisconsin.
