Xcel Energy (NYSE:XEL) Coverage Initiated at Smith Barney Citigroup

Smith Barney Citigroup assumed coverage on shares of Xcel Energy (NYSE:XEL) in a research note issued on Monday, The Fly reports. The firm set a “neutral” rating and a $76.00 price target on the utilities provider’s stock. Smith Barney Citigroup’s target price indicates a potential upside of 6.65% from the stock’s current price.

A number of other research analysts have also recently issued reports on the stock. Morgan Stanley boosted their price objective on shares of Xcel Energy from $60.00 to $65.00 and gave the company an “underweight” rating in a report on Tuesday, October 20th. KeyCorp boosted their price target on shares of Xcel Energy from $74.00 to $75.00 and gave the company an “overweight” rating in a report on Monday, October 19th. Argus downgraded Xcel Energy from a “buy” rating to a “hold” rating in a research note on Tuesday, August 25th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell assumed coverage on Xcel Energy in a report on Monday. They set a “neutral” rating and a $76.00 target price on the stock. Finally, Mizuho increased their price target on Xcel Energy from $61.00 to $68.00 and gave the stock a “neutral” rating in a report on Friday, August 21st. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $66.86.

Shares of XEL stock traded down $0.21 during trading hours on Monday, reaching $71.26. The company had a trading volume of 76,315 shares, compared to its average volume of 3,192,489. Xcel Energy has a 1-year low of $46.58 and a 1-year high of $74.41. The company has a 50 day moving average of $70.20 and a 200 day moving average of $66.48.

Xcel Energy (NYSE:XEL) last released its earnings results on Thursday, July 30th. The utilities provider reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.08. The company had revenue of $2.59 billion during the quarter, compared to analyst estimates of $2.76 billion.

In other news, CEO Benjamin G. S. Fowke III sold 99,798 shares of the firm’s stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $71.31, for a total value of $7,116,595.38. Following the completion of the sale, the chief executive officer now directly owns 361,733 shares of the company’s stock, valued at $25,795,180.23. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.22% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in XEL. Brookfield Asset Management Inc. acquired a new stake in shares of Xcel Energy in the second quarter valued at approximately $170,375,000. Mitsubishi UFJ Trust & Banking Corp raised its position in shares of Xcel Energy by 28.6% in the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 3,848,000 shares of the utilities provider’s stock worth $240,500,000 after acquiring an additional 856,178 shares in the last quarter. Reaves W H & Co. Inc. lifted its stake in shares of Xcel Energy by 1,553.1% in the 2nd quarter. Reaves W H & Co. Inc. now owns 807,890 shares of the utilities provider’s stock valued at $50,494,000 after purchasing an additional 759,020 shares during the period. APG Asset Management N.V. boosted its position in shares of Xcel Energy by 187.7% during the 1st quarter. APG Asset Management N.V. now owns 1,040,316 shares of the utilities provider’s stock valued at $62,731,000 after purchasing an additional 678,675 shares in the last quarter. Finally, Victory Capital Management Inc. grew its stake in Xcel Energy by 17.4% during the second quarter. Victory Capital Management Inc. now owns 4,086,680 shares of the utilities provider’s stock worth $255,418,000 after purchasing an additional 605,676 shares during the period. Institutional investors own 73.96% of the company’s stock.

Xcel Energy Company Profile

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 (NYSE:XEL)

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