Xcel Energy (XEL) Price Target Boosted at Morgan Stanley. Here is Why

With an annual dividend yield of 2.90%, Xcel Energy Inc. (NASDAQ:XEL) is included among the 12 Best NASDAQ Stocks to Buy for Dividends.

Xcel Energy Inc. (NASDAQ:XEL) is a major US electricity and natural gas company with operations in 8 Western and Midwestern states.

On June 24, Morgan Stanley upped its price target on Xcel Energy Inc. (NASDAQ:XEL) from $87 to $89, while reaffirming an 'Equal Weight' rating on the shares. The target boost indicates an upside potential of almost 9% from the current share price.

The move comes after Morgan Stanley revised its price objectives for Regulated & Diversified Utilities / IPPs in North America for the month of May. The analyst firm noted that the utilities sector fell by 5.5% last month, significantly underperforming the gains of around 5.1% posted by the overall S&P during the period.

Xcel Energy Inc. (NASDAQ:XEL) has grown its dividends for 23 consecutive years, and intends to carry on this momentum by targeting annual dividend increases of 4-6% and a payout ratio of 45-55%. The stock currently boasts a robust annual dividend yield of 2.90%.

The Mairs & Power, an investment firm, stated the following regarding Xcel Energy Inc. (NASDA

Fuente original: Yahoo Finance (https://finance.yahoo.com/markets/stocks/articles/xcel-energy-xel-price-target-040800292.html)