Fintel reports that on July 21, 2023, Morgan Stanley reiterated coverage of Xcel Energy (NASDAQ:XEL) with a Equal-Weight recommendation.
Analyst Price Forecast Suggests 11.03% Upside
As of July 6, 2023, the average one-year price target for Xcel Energy is 71.68. The forecasts range from a low of 64.64 to a high of $81.90. The average price target represents an increase of 11.03% from its latest reported closing price of 64.56.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Xcel Energy is 14,562MM, a decrease of 6.89%. The projected annual non-GAAP EPS is 3.41.
Xcel Energy Declares $0.52 Dividend
On May 24, 2023 the company declared a regular quarterly dividend of $0.52 per share ($2.08 annualized). Shareholders of record as of June 15, 2023 received the payment on July 20, 2023. Previously, the company paid $0.52 per share.
At the current share price of $64.56 / share, the stock's dividend yield is 3.22%.
Looking back five years and taking a sample every week, the average dividend yield has been 2.78%, the lowest has been 2.30%, and the highest has been 3.44%. The standard deviation of yields is 0.24 (n=236).
The current dividend yield is 1.88 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.65. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.21%, demonstrating that it has increased its dividend over time.
What is the Fund Sentiment?
There are 1794 funds or institutions reporting positions in Xcel Energy. This is a decrease of 9 owner(s) or 0.50% in the last quarter. Average portfolio weight of all funds dedicated to XEL is 0.33%, a decrease of 14.32%. Total shares owned by institutions increased in the last three months by 0.43% to 514,566K shares. 
The put/call ratio of XEL is 0.45, indicating a bullish outlook.
What are Other Shareholders Doing?
Jpmorgan Chase holds 31,200K shares representing 5.67% ownership of the company. In it's prior filing, the firm reported owning 32,355K shares, representing a decrease of 3.70%. The firm decreased its portfolio allocation in XEL by 14.28% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 17,021K shares representing 3.09% ownership of the company. In it's prior filing, the firm reported owning 16,633K shares, representing an increase of 2.28%. The firm decreased its portfolio allocation in XEL by 9.11% over the last quarter.
Aristotle Capital Management holds 15,417K shares representing 2.80% ownership of the company. In it's prior filing, the firm reported owning 15,714K shares, representing a decrease of 1.93%. The firm decreased its portfolio allocation in XEL by 6.87% over the last quarter.
T. Rowe Price Investment Management holds 15,138K shares representing 2.75% ownership of the company. In it's prior filing, the firm reported owning 8,228K shares, representing an increase of 45.64%. The firm increased its portfolio allocation in XEL by 65.35% over the last quarter.
Massachusetts Financial Services holds 13,361K shares representing 2.43% ownership of the company. In it's prior filing, the firm reported owning 11,208K shares, representing an increase of 16.12%. The firm increased its portfolio allocation in XEL by 12.43% over the last quarter.
Xcel Energy Background Information
(This description is provided by the company.)
Xcel Energy provides the energy that powers millions of homes and businesses across eight Western and Midwestern states. Headquartered in Minneapolis, the company is an industry leader in responsibly reducing carbon emissions and producing and delivering clean energy solutions from a variety of renewable sources at competitive prices.
Additional reading:
- POWER OF ATTORNEY
- XCEL ENERGY FIRST QUARTER 2023 EARNINGS REPORT
- Powers of Attorney
- Subsidiaries of Xcel Energy Inc.
- Powers of Attorney
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
