Xcel Energy Inc. (NASDAQ:XEL) continues to be in the spotlight as it receives a consensus rating of “Moderate Buy” from analysts and maintains its Overweight recommendation from Keybanc. The company's Q1 2024 Earnings Call Transcript shows strides in financial performance despite recent challenges. Nationwide institutions, such as Kestra Private Wealth Services LLC and National Bank of Canada FI, have increased their stake in Xcel Energy Inc. Yet, the company experienced a setback following a wildfire in Texas, causing their shares to take a hit. However, strong investment strategies and renewable expansion may drive Xcel Energy's recovery in the market. Brokerages have currently set the price target at $62.83, with Barclays raising it to $57.00 and to $66.00 later on. Xcel Energy is also focusing on clean power generation and has beaten analyst EPS estimates. A SWOT analysis highlights their strategic position in the market. However, there are concerns about their strained balance sheet. The company reported earnings growth in 2023 but fell short of Q3 earnings and revenue estimates which led to share sell-offs by certain investors. However, in positive news, the Rockefeller Foundation has welcomed Xcel Energy as a new Economic Opportunity Coalition member. The company also plans to install 30000 EV Charging Ports in collaboration with Ford Pro by 2030. Despite ongoing issues related to the Texas wildfire, the company’s stock has shown promising signs of recovery, with those who invested five years ago now seeing a 48% increase.
Xcel Energy XEL News Analytics from Wed, 20 Sep 2023 07:00:00 GMT to Tue, 07 May 2024 07:56:14 GMT -
Rating 6
- Innovation 2
- Information 7
- Rumor -3
