Xcel Energy Inc. (XEL), headquartered in Minneapolis, Minnesota, is a leading electric and natural gas utility serving millions of customers across eight states. With a market cap of $35.84 billion, Xcel Energy plays a crucial role in providing reliable and sustainable energy solutions to residential, commercial, and industrial customers.
Companies valued at $10 billion or more are classified as "large-cap" stocks and Xcel Energy perfectly fits into this category, showcasing its significant scale, stability, and influence within the energy sector. With a focus on clean energy innovation and reducing carbon emissions, Xcel Energy plays a pivotal role in shaping the future of energy, serving millions of customers across multiple states and supporting the transition to a greener energy landscape.
XEL shares are trading marginally below their 52-week high of $64.95, which they hit on Sep. 16. The stock has gained 21.2% over the past three months, outperforming the broader S&P 500 Index ($SPX), which has gained 3% over the same time frame.
In the longer term, XEL is up 4.2% on a YTD basis, and the shares have gained 11.3% over the past 52 weeks. In comparison, the SPX has gained 18.1% in 2024 and rallied 26.6% over the past year.
To confirm its recent bullish trend, XEL has been trading above its 50-day moving average since mid-July and the 200-day moving average since late July.
XEL’s shares rose by 1.4% after the release of its Q2 earnings on Aug. 1. Its revenue stood at $302 million. Its adjusted EPS of $0.54 surpassed Wall Street estimates of $0.55. The company also beat revenue forecasts, posting $3.03 billion compared to the expected $3.28 billion. XEL expects full-year earnings to be $3.50 to $3.60 per share.
Highlighting the contrast in performance, XEL’s competitor, American Electric Power Company, Inc. (AEP), has outperformed both the stock and the broader index. AEP has gained 28.7% on a YTD basis.
Despite the stock's strong recent price performance, analysts are moderately bullish about XEL's prospects. The stock has a consensus rating of "Moderate Buy" from 15 analysts in coverage. The mean price target is $65.93, suggesting a 2.2% premium to its current levels.
On the date of publication, Rashmi Kumari did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
