KeyCorp Forecasts Strong Price Appreciation for Xcel Energy (NASDAQ:XEL) Stock

Xcel Energy (NASDAQ:XEL - Free Report) had its price target hoisted by KeyCorp from $69.00 to $74.00 in a research report released on Friday, Benzinga reports. KeyCorp currently has an overweight rating on the stock.

Other research analysts have also recently issued reports about the stock. Barclays raised their price objective on shares of Xcel Energy from $57.00 to $67.00 and gave the company an "overweight" rating in a research report on Monday, October 21st. Argus raised Xcel Energy from a "hold" rating to a "buy" rating and set a $68.00 price target for the company in a report on Monday, August 26th. Wells Fargo & Company upped their price objective on Xcel Energy from $63.00 to $66.00 and gave the stock an "equal weight" rating in a report on Wednesday, October 16th. Jefferies Financial Group raised Xcel Energy from a "hold" rating to a "buy" rating and raised their target price for the company from $71.00 to $76.00 in a report on Friday. Finally, UBS Group upped their price target on shares of Xcel Energy from $66.00 to $67.00 and gave the stock a "neutral" rating in a research note on Friday, September 20th. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $66.38.

Xcel Energy Stock Performance

Shares of XEL traded down $0.12 during midday trading on Friday, reaching $66.69. 6,808,599 shares of the stock were exchanged, compared to its average volume of 4,169,125. The company has a market capitalization of $37.18 billion, a price-to-earnings ratio of 19.91, a PEG ratio of 2.77 and a beta of 0.39. The company has a debt-to-equity ratio of 1.54, a current ratio of 0.97 and a quick ratio of 0.86. Xcel Energy has a twelve month low of $46.79 and a twelve month high of $68.36. The business's 50-day moving average price is $63.61 and its 200 day moving average price is $58.25.

Xcel Energy (NASDAQ:XEL - Get Free Report) last released its quarterly earnings results on Thursday, October 31st. The company reported $1.25 EPS for the quarter, missing the consensus estimate of $1.31 by ($0.06). Xcel Energy had a net margin of 13.46% and a return on equity of 10.94%. The business had revenue of $3.64 billion during the quarter, compared to analysts' expectations of $3.93 billion. During the same quarter last year, the company earned $1.23 EPS. The firm's revenue for the quarter was down .5% compared to the same quarter last year. On average, sell-side analysts expect that Xcel Energy will post 3.55 EPS for the current fiscal year.

Hedge Funds Weigh In On Xcel Energy

Large investors have recently bought and sold shares of the stock. TruNorth Capital Management LLC purchased a new stake in shares of Xcel Energy during the 2nd quarter worth about $30,000. American National Bank purchased a new stake in Xcel Energy during the second quarter worth approximately $32,000. Kimelman & Baird LLC acquired a new stake in shares of Xcel Energy in the second quarter worth $35,000. Rothschild Investment LLC purchased a new position in shares of Xcel Energy in the 2nd quarter valued at $37,000. Finally, Voisard Asset Management Group Inc. purchased a new position in shares of Xcel Energy in the 2nd quarter valued at $43,000. Hedge funds and other institutional investors own 78.38% of the company's stock.

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.