BMO Capital Cuts Xcel Energy (XEL) Price Target to $86
Key Points
- BMO Capital reiterated its Outperform rating on Xcel Energy Inc. on October 20, 2026, while moving its price target from $91 to $86.
- BMO Capital's $86 price target implies 12.20% upside from Xcel Energy Inc.'s ($XEL) current $76.65 share price.
- Xcel Energy Inc. generated trailing-twelve-month revenue of $14.62 billion alongside earnings of $3.65 per share ahead of its October 29 earnings release.
- Wall Street maintains an overall Strong Buy consensus on the utility operator, with 18 analysts covering the stock.
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On October 20, 2026, BMO Capital maintained its Outperform rating on Xcel Energy Inc. (NasdaqGS: XEL) while lowering its price target from $91 to $86. The research note update provides a fresh look at the regulated utility operator's valuation as shares trade near the middle of their 52-week range.
XEL
Xcel Energy Inc.
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BMO Capital's Call on Xcel Energy
In its October 20 report, BMO Capital kept its upbeat stance on the Minneapolis-based utility but trimmed the target downward by $5. The firm's Outperform rating signals confidence that the stock will beat the wider market over the long term, even as the price target adjustment points to a more modest near-term upside from recent trading levels.
Other Institutional Activity in Xcel Energy
Other large funds have been adjusting their exposure to the utility provider recently. Massachusetts Financial Services Co. trimmed its holdings by 1,809,737 shares during the period ended June 30, 2026, ending with 16,269,553 shares valued at about $1.25 billion.
Xcel Energy Inc. Stock Up 2.0%
The shares closed at $76.65 on October 20, 2026. That puts the stock above its 50-day moving average of $74.79 and below its 200-day moving average of $78.08.
$XEL price target
Xcel Energy Inc. daily closes and this analyst's $86 target. Not advice.
Recent Earnings
Xcel Energy Inc. operates as a regulated electric and natural gas delivery company serving customers across several states. For its trailing twelve months, the company posted $14.62 billion in revenue and earnings of $3.65 per share. The utility recorded a net profit margin of 15.3% and a return on equity of 9.9%. Investors will get an updated look at the company's financial performance when it releases its next earnings report on October 29, 2026.
Dividend
The company pays an annual dividend rate of $2.37 per share, which works out to a dividend yield of 3.15% based on recent pricing. Xcel Energy pays out 63.7% of its earnings to shareholders.
Analysts Set New Price Targets
Wall Street firms have actively reviewed Xcel Energy through September and October 2026. Scotiabank initiated coverage with a Sector Outperform rating and a $77 price target on September 29, 2026. Keybanc maintained an Overweight rating on October 13, 2026, while lowering its target from $90 to $87. Truist Securities maintained a Buy rating on October 14, 2026, cutting its target from $88 to $87. Barclays maintained an Overweight rating on October 15, 2026, reducing its target from $90 to $85. Overall, the stock holds a Strong Buy consensus recommendation from 18 analyst opinions, with a mean price target of $89.22.
About Xcel Energy
Xcel Energy Inc. provides regulated electricity and natural gas to millions of customers across the United States through its utility segments. The company focuses on expanding its clean energy infrastructure while maintaining reliable grid operations for residential and commercial users.
Bottom Line
BMO Capital's decision to lower its price target while keeping its Outperform rating shows ongoing confidence tempered by recent market conditions. Investors should monitor the upcoming earnings report on October 29, 2026, for further insights into the utility's financial health.
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Source: BMO Capital's rating change on $XEL (Oct 20, 2026). Written by software, not financial advice. How we make alerts