Wall Street closes at a record for the first time since end of January
Investing.com - BofA Securities raised its price target on Xcel Energy shares (NASDAQ:XEL) to $86.00 from $84.00 while maintaining a Buy rating on the stock. The shares currently trade at $79.01, representing potential upside to the new target. The utility company, which boasts a market cap of $49.36 billion, has maintained dividend payments for 55 consecutive years according to InvestingPro data.
The firm expects Xcel Energy to report first-quarter 2026 earnings per share of $0.89, above the prior year’s quarter of $0.84 per share but below the consensus estimate of $0.94 per share.
BofA Securities projects first-quarter 2026 earnings will benefit from higher electric and gas sales, capital rider revenues, higher rates, and AFUDC earnings compared to the prior year’s quarter.
These benefits will be offset by weaker weather, higher depreciation, interest and property tax expense, and equity dilution, according to the firm.
BofA Securities does not expect any change to current guidance and anticipates investors will focus on the company’s regulatory calendar, data center pipeline, potential changes to the capital spending outlook, rate affordability and wildfire risk. With earnings scheduled for April 30, investors can access deeper insights through InvestingPro’s comprehensive Pro Research Report, which distills complex Wall Street data into actionable intelligence for XEL and 1,400+ other US equities.
In other recent news, Xcel Energy has been active in the financial markets with several bond issuances. The Public Service Company of Colorado, a part of Xcel Energy, issued $1.3 billion in first mortgage bonds, split into two series: $700 million at 4.15% due in 2029 and $600 million at 5.05% due in 2036. Similarly, Northern States Power Company, another Xcel Energy entity, issued $1.2 billion in first mortgage bonds, including $600 million at 4.85% due in 2036 and another $600 million at 5.55% due in 2056. Xcel Energy itself issued $800 million in junior subordinated notes with a 5.75% interest rate, due in 2056.
On the analyst front, Argus raised its price target for Xcel Energy to $86 from $78, attributing the increase to sector momentum and fundamental growth potential, while maintaining a Buy rating. Conversely, UBS adjusted its price target for Xcel Energy to $89 from $93, though it also retained a Buy rating, indicating a continued positive outlook despite the valuation adjustment. These developments highlight Xcel Energy’s strategic financial maneuvers and the varied analyst perspectives on its market positioning.
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