Minneapolis, Minnesota-based Xcel Energy Inc. (XEL) is a leading electric and natural gas utility serving millions of customers across eight states. With a market cap of $38.3 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. Xcel Energy is at the forefront of clean energy innovation and carbon reduction, driving the transition to a sustainable energy future while serving millions of customers across several states.
XEL shares have retreated 8.1% from their 52-week high of $73.38, which they touched on Nov. 27. The stock has gained 5.1% over the past three months, underperforming the broader Nasdaq Composite ($NASX), which has surged 9.1% over the same time frame.
In the longer term, XEL is up 8.9% on a YTD basis, and the shares have gained 9.9% over the past 52 weeks. In comparison, the NASX has gained 30.4% in 2024 and rallied 32.4% over the past year.
To confirm its recent bullish trend, XEL has been trading above its 50-day moving average since late October and the 200-day moving average since late July.
Although Xcel Energy fell short of Wall Street’s earnings and revenue expectations, its stock popped 6% following the Q3 earnings release on Oct. 31. The company reaffirmed its FY 2024 adjusted EPS guidance of $3.50 to $3.60 and introduced a 2025 EPS guidance range of $3.75 to $3.85, bolstering investor confidence. Furthermore, Xcel is poised to benefit from new customer growth and increasing demand from data centers in the coming quarters, strengthening its outlook.
Highlighting the contrast in performance, XEL’s competitor, American Electric Power Company, Inc. (AEP), has outperformed this year. AEP has gained 14.2% 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 16 analysts in coverage. The mean price target is $73.07, suggesting a 8.4% premium to its current levels.
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