Xcel Energy (XEL) Downgraded to “Equal Weight” at Morgan Stanley

Morgan Stanley cut shares of Xcel Energy (NYSE:XEL) from an overweight rating to an equal weight rating in a research note published on Friday morning, MarketBeat reports. The brokerage currently has $50.00 target price on the utilities provider’s stock, down from their prior target price of $52.00.

Several other analysts also recently commented on the company. Zacks Investment Research raised Xcel Energy from a sell rating to a hold rating in a research note on Monday, July 16th. Barclays assumed coverage on Xcel Energy in a research note on Tuesday, July 10th. They issued an overweight rating and a $53.00 price objective for the company. Finally, Bank of America reissued a neutral rating on shares of Xcel Energy in a research note on Wednesday, June 27th. Seven equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average target price of $48.00.

Shares of Xcel Energy stock opened at $47.04 on Friday. Xcel Energy has a 52 week low of $41.51 and a 52 week high of $52.22. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.68 and a current ratio of 0.87.

Xcel Energy (NYSE:XEL) last issued its quarterly earnings data on Thursday, July 26th. The utilities provider reported $0.52 EPS for the quarter, topping the consensus estimate of $0.47 by $0.05. The firm had revenue of $2.66 billion during the quarter, compared to the consensus estimate of $2.71 billion. Xcel Energy had a return on equity of 10.44% and a net margin of 10.06%. The company’s quarterly revenue was up .5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.45 earnings per share. analysts predict that Xcel Energy will post 2.44 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Saturday, October 20th. Investors of record on Friday, September 14th will be given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.23%. The ex-dividend date is Thursday, September 13th.

In related news, SVP Judy M. Poferl sold 7,182 shares of the stock in a transaction that occurred on Friday, September 7th. The stock was sold at an average price of $48.67, for a total transaction of $349,547.94. Following the completion of the sale, the senior vice president now directly owns 25,460 shares of the company’s stock, valued at $1,239,138.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Lynn Casey purchased 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 5th. The shares were acquired at an average cost of $48.89 per share, with a total value of $48,890.00. Following the completion of the transaction, the director now directly owns 3,131 shares of the company’s stock, valued at approximately $153,074.59. The disclosure for this purchase can be found here. Company insiders own 0.22% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the stock. Point72 Asia Hong Kong Ltd increased its position in shares of Xcel Energy by 328.8% during the first quarter. Point72 Asia Hong Kong Ltd now owns 3,280 shares of the utilities provider’s stock valued at $149,000 after acquiring an additional 2,515 shares during the last quarter. Whittier Trust Co. of Nevada Inc. increased its position in shares of Xcel Energy by 105.3% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 4,774 shares of the utilities provider’s stock valued at $154,000 after acquiring an additional 2,449 shares during the last quarter. Centaurus Financial Inc. purchased a new stake in shares of Xcel Energy during the second quarter valued at approximately $166,000. Poehling Capital Management LLC increased its position in shares of Xcel Energy by 91.2% during the second quarter. Poehling Capital Management LLC now owns 3,797 shares of the utilities provider’s stock valued at $173,000 after acquiring an additional 1,811 shares during the last quarter. Finally, Parallel Advisors LLC increased its position in shares of Xcel Energy by 92.0% during the second quarter. Parallel Advisors LLC now owns 4,170 shares of the utilities provider’s stock valued at $190,000 after acquiring an additional 1,998 shares during the last quarter. 73.96% of the stock is owned by institutional investors.

About Xcel Energy

Xcel Energy Inc is a public utility holding company. The Company’s operations include the activity of four utility subsidiaries that serve electric and natural gas customers in eight states. The Company’s segments include regulated electric utility, regulated natural gas utility and all other. The Company’s utility subsidiaries include NSP-Minnesota, NSP-Wisconsin, Public Service Company of Colorado (PSCo) and Southwestern Public Service Co (SPS), which serve customers in portions of Colorado, Michigan, Minnesota, New Mexico, North Dakota, South Dakota, Texas and Wisconsin.

Featured Article: What are the reasons investors use put options?

Analyst Recommendations for Xcel Energy (NYSE:XEL)

Receive News & Ratings for Xcel Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Xcel Energy and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply