Xcel Energy Inc. (NASDAQ:XEL) has garnered a consensus rating of “Moderate Buy” from seventeen research firms actively covering the stock, according to Marketbeat. This assessment includes one sell recommendation, one hold rating, thirteen buy ratings, and two strong buy ratings. The average one-year price target among analysts who have updated their coverage in the past year stands at $87.14.
Several brokerages have recently issued reports on Xcel Energy, reflecting varying perspectives on its stock performance. On November 20, 2023, Morgan Stanley restated an “underperform” rating and established a price objective of $84.00. Meanwhile, Mizuho raised its price target from $83.00 to $87.00 and assigned an “outperform” rating on October 27, 2023.
Furthermore, KeyCorp increased its price objective from $79.00 to $85.00, maintaining an “overweight” rating in a report dated October 15, 2023. Likewise, Barclays adjusted their price objective from $83.00 to $85.00 on November 5, 2023, also giving it an “overweight” rating. Lastly, Jefferies Financial Group boosted their target price from $84.00 to $92.00 with a “buy” rating on October 16, 2023.
Current Trading and Financial Performance
On November 21, 2023, Xcel Energy’s stock opened at $77.18. Over the past year, the stock has reached a low of $62.58 and a high of $83.01. The company possesses a market capitalization of $45.66 billion, a price-to-earnings ratio of 23.53, and a price-to-earnings-growth ratio of 2.30. Xcel Energy’s beta stands at 0.45, indicating lower volatility compared to the market.
The company recently reported its earnings results on October 29, 2023. Xcel Energy posted earnings per share (EPS) of $1.24, falling short of analysts’ consensus expectations of $1.32 by $0.08. The company achieved quarterly revenue of $3.92 billion, surpassing analyst estimates of $3.89 billion. Despite the EPS miss, Xcel Energy’s quarterly revenue increased by 7.4% compared to the same quarter the previous year. In the prior year, the company reported an EPS of $1.25.
About Xcel Energy
Xcel Energy Inc. is involved in the generation, purchase, transmission, distribution, and sale of electricity through its subsidiaries. The company operates in various segments, including Regulated Electric Utility, Regulated Natural Gas Utility, and All Other segments. Xcel Energy generates electricity through diverse sources, including wind, nuclear, hydroelectric, biomass, and solar energy, along with traditional fuels such as coal, natural gas, oil, wood, and refuse-derived fuels.
Equities analysts project that Xcel Energy will report an EPS of 3.82 for the current fiscal year, reflecting ongoing interest in the company’s performance within the energy sector.
