In a report issued on August 1, Shelby Tucker from RBC Capital maintained a Hold rating on Xcel Energy (XEL – Research Report), with a price target of $76.00. The company’s shares closed last Wednesday at $74.31, close to its 52-week high of $76.63.
According to TipRanks.com, Tucker is a top 100 analyst with an average return of 11.4% and a 76.2% success rate. Tucker covers the Utilities sector, focusing on stocks such as Constellation Energy Corporation, Public Service Enterprise, and American Electric Power.
Currently, the analyst consensus on Xcel Energy is a Moderate Buy with an average price target of $73.89, which is a 0.8% upside from current levels. In a report issued on July 21, Morgan Stanley also maintained a Hold rating on the stock with a $69.00 price target.
Based on Xcel Energy’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $3.42 billion and net profit of $328 million. In comparison, last year the company earned revenue of $3.07 billion and had a net profit of $311 million.
Based on the recent corporate insider activity of 59 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of XEL in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Xcel Energy Inc. engages in generating, purchasing, transmitting, distributing, and selling electricity. It generates electricity through nuclear, natural gas, coal, hydroelectric, wood/refuse, solar, and wind energy sources. The company sells to residential, commercial, and industrial customers in eight Western and Midwestern states.
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