Morgan Stanley Cuts Xcel Energy (NASDAQ:XEL) Price Target to $72.00

Xcel Energy (NASDAQ:XELGet Rating) had its price objective trimmed by Morgan Stanley from $75.00 to $72.00 in a research note released on Monday morning, Stock Target Advisor reports. The firm currently has an equal weight rating on the stock.

Other equities analysts also recently issued research reports about the stock. KeyCorp raised their target price on shares of Xcel Energy from $78.00 to $79.00 and gave the company an overweight rating in a research note on Wednesday, April 20th. Evercore ISI raised shares of Xcel Energy from an in-line rating to an outperform rating and raised their target price for the company from $70.00 to $75.00 in a research note on Tuesday, January 25th. Finally, Credit Suisse Group started coverage on shares of Xcel Energy in a research note on Monday, April 25th. They set an outperform rating and a $80.00 target price for the company. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock has an average rating of Buy and an average price target of $74.10.

Xcel Energy stock opened at $75.70 on Monday. The company has a current ratio of 0.75, a quick ratio of 0.66 and a debt-to-equity ratio of 1.37. The firm has a 50-day moving average of $73.30 and a 200-day moving average of $69.38. The firm has a market cap of $41.23 billion, a P/E ratio of 25.32, a P/E/G ratio of 3.69 and a beta of 0.33. Xcel Energy has a 1-year low of $61.15 and a 1-year high of $76.63.

Xcel Energy (NASDAQ:XELGet Rating) last posted its earnings results on Thursday, April 28th. The company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.02. Xcel Energy had a net margin of 11.84% and a return on equity of 10.54%. The company had revenue of $3.75 billion during the quarter, compared to analyst estimates of $3.42 billion. During the same period in the prior year, the business posted $0.67 earnings per share. Xcel Energy’s revenue for the quarter was up 5.9% on a year-over-year basis. Research analysts forecast that Xcel Energy will post 3.16 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 20th. Stockholders of record on Wednesday, June 15th will be paid a dividend of $0.4875 per share. This represents a $1.95 annualized dividend and a dividend yield of 2.58%. The ex-dividend date is Tuesday, June 14th. Xcel Energy’s dividend payout ratio is presently 65.22%.

In related news, SVP Frank P. Prager sold 1,000 shares of Xcel Energy stock in a transaction on Friday, April 29th. The shares were sold at an average price of $73.58, for a total transaction of $73,580.00. Following the transaction, the senior vice president now owns 29,174 shares in the company, valued at approximately $2,146,622.92. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Brett C. Carter sold 14,000 shares of Xcel Energy stock in a transaction on Monday, May 23rd. The shares were sold at an average price of $74.66, for a total transaction of $1,045,240.00. Following the transaction, the executive vice president now owns 23,617 shares in the company, valued at approximately $1,763,245.22. The disclosure for this sale can be found here. Company insiders own 0.05% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the business. JFS Wealth Advisors LLC increased its holdings in Xcel Energy by 256.3% in the 1st quarter. JFS Wealth Advisors LLC now owns 342 shares of the company’s stock valued at $25,000 after acquiring an additional 246 shares during the last quarter. Future Financial Wealth Managment LLC bought a new stake in Xcel Energy in the 4th quarter valued at $26,000. Equitec Proprietary Markets LLC bought a new stake in shares of Xcel Energy in the 4th quarter worth about $27,000. TAP Consulting LLC bought a new stake in shares of Xcel Energy in the 4th quarter worth about $28,000. Finally, Industrial Alliance Investment Management Inc. bought a new stake in shares of Xcel Energy in the 4th quarter worth about $28,000. Institutional investors own 75.14% of the company’s stock.

About Xcel Energy (Get Rating)

Xcel Energy Inc, through its subsidiaries, generates, purchases, transmits, distributes, and sells electricity. It operates through Regulated Electric Utility, Regulated Natural Gas Utility, and All Other segments. The company generates electricity through coal, nuclear, natural gas, hydroelectric, solar, biomass, oil, wood/refuse, and wind energy sources.

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Analyst Recommendations for Xcel Energy (NASDAQ:XEL)

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