Xcel Energy (NASDAQ:XEL) Sets New 1-Year High – Here’s Why

Xcel Energy Inc. (NASDAQ:XEL) hit a new 52-week high during trading on Monday . The company traded as high as $71.79 and last traded at $71.60, with a volume of 80248 shares trading hands. The stock had previously closed at $71.35.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on XEL shares. Barclays raised their price objective on shares of Xcel Energy from $67.00 to $71.00 and gave the company an “overweight” rating in a research report on Tuesday. Morgan Stanley lowered their target price on shares of Xcel Energy from $74.00 to $72.00 and set an “equal weight” rating on the stock in a research report on Friday, November 22nd. Wells Fargo & Company upped their price target on Xcel Energy from $63.00 to $66.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. Jefferies Financial Group raised Xcel Energy from a “hold” rating to a “buy” rating and raised their price objective for the company from $71.00 to $76.00 in a research note on Friday, November 1st. Finally, KeyCorp increased their price target on Xcel Energy from $69.00 to $74.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $66.62.

Xcel Energy Stock Performance

The firm has a market capitalization of $41.27 billion, a P/E ratio of 21.33, a P/E/G ratio of 2.93 and a beta of 0.38. The stock has a fifty day moving average of $65.71 and a 200-day moving average of $60.05. The company has a quick ratio of 0.82, a current ratio of 0.93 and a debt-to-equity ratio of 1.42.

Xcel Energy (NASDAQ:XEL) last announced its quarterly earnings results on Thursday, October 31st. The company reported $1.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.26 by ($0.01). The business had revenue of $3.64 billion for the quarter, compared to analyst estimates of $3.93 billion. Xcel Energy had a net margin of 13.67% and a return on equity of 10.76%. The company’s revenue for the quarter was down .5% compared to the same quarter last year. During the same period in the prior year, the business earned $1.23 EPS. On average, research analysts anticipate that Xcel Energy Inc. will post 3.54 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Integris Wealth Management LLC lifted its position in Xcel Energy by 2.7% during the third quarter. Integris Wealth Management LLC now owns 6,163 shares of the company’s stock worth $402,000 after purchasing an additional 163 shares during the period. Bond & Devick Financial Network Inc. lifted its holdings in shares of Xcel Energy by 1.1% during the 3rd quarter. Bond & Devick Financial Network Inc. now owns 15,972 shares of the company’s stock worth $1,043,000 after acquiring an additional 168 shares during the period. LRI Investments LLC boosted its position in shares of Xcel Energy by 5.9% during the 3rd quarter. LRI Investments LLC now owns 3,037 shares of the company’s stock worth $209,000 after acquiring an additional 170 shares in the last quarter. Gateway Wealth Partners LLC increased its stake in Xcel Energy by 4.3% in the second quarter. Gateway Wealth Partners LLC now owns 4,413 shares of the company’s stock valued at $236,000 after acquiring an additional 182 shares during the last quarter. Finally, Sumitomo Life Insurance Co. raised its position in Xcel Energy by 2.9% during the third quarter. Sumitomo Life Insurance Co. now owns 6,591 shares of the company’s stock valued at $430,000 after purchasing an additional 183 shares in the last quarter. 78.38% of the stock is owned by 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.