Barclays Cuts Xcel Energy (XEL) Price Target to $85

Barclays has reiterated its Overweight rating on Xcel Energy with a new price target of $85, a 12.11% upside from the current price.

By EarningsIQ Research Desk · Published Oct 16, 2026, 11:15 AM EDT · Updated Oct 16, 2026, 8:15 PM EDT

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Barclays cut its price target on Xcel Energy Inc. ($XEL) to $85 from $90 on October 15, 2026, and rates the stock "Overweight".

Since the rating, $XEL is up 1.6% to date (from the $75.12 close on Oct 15, 2026).

XEL Xcel Energy Inc.

$76.31 +4.55% year to date

Daily close · Oct 16, 2026

Key Points

On October 15, 2026, Barclays reiterated its Overweight rating on Xcel Energy Inc. (XEL), lowering the price target from $90 to $85.
Barclays's $85 price target implies 12.11% upside from Xcel Energy Inc.'s ($XEL) current $75.82 share price.
As of October 16, 2026, Xcel Energy shares are trading around $75.82, which is about 10.8% below the new price target.
The company is set to report earnings on October 29, 2026, after recently posting trailing twelve-month revenue of approximately $14.6 billion.

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Barclays has reiterated its Overweight rating on Xcel Energy Inc. (XEL) on October 15, 2026, lowering its price target from $90 to $85. This adjustment reflects the firm's updated outlook for the utility sector and the company's performance.

Analyst rating track record

Barclays vs. the S&P 500

YTD return -0.32% hypothetical

All-time return -0.32% S&P 500 +4.20%

vs. S&P 500 -4.52% behind the index

Hypothetical returns from Barclays's disclosed trades, not real profit or advice. How we model this.

Other Institutional Activity in Xcel Energy

Several other institutional investors have recently adjusted their positions in Xcel Energy. BlackRock Inc. grew its holdings by 6,986,919 shares, bringing its total to about 60.9 million shares worth approximately $4.65 billion. Vanguard Capital Management LLC added 1,279,484 shares, increasing its total to about 40.8 million shares valued at around $3.11 billion. State Street Corporation also raised its stake by 1,770,869 shares, ending with about 38.9 million shares worth about $2.97 billion.

Xcel Energy Inc. Stock Up 4.9%

As of October 16, 2026, Xcel Energy shares are trading around $75.82. This price is approximately 10.8% below Barclays' new price target of $85. The stock's performance could be influenced by the upcoming earnings report scheduled for October 29, 2026, as investors look for signs of recovery in the utility sector.

12-month forecast

$XEL price target

Xcel Energy Inc. daily closes and this analyst's $85 target. Not advice.

Recent Earnings

Xcel Energy reported trailing twelve-month revenue of approximately $14.6 billion, with a net margin of 15.3% and a return on equity of 9.9%. The company has faced some challenges, reflected in a year-over-year revenue growth rate of -5.1%. Investors will be looking for improvements in the next earnings report.

Dividend

Xcel Energy pays an annual dividend rate of $2.37 per share, with a payout ratio of 63.7%. This consistent dividend payment is a positive aspect for income-focused investors.

Analysts Set New Price Targets

On October 15, 2026, Barclays maintained its Overweight rating on Xcel Energy with a new price target of $85. Earlier, on October 14, 2026, Truist Securities also maintained a Buy rating with a target of $87. Other firms, such as Morgan Stanley and Scotiabank, have provided varying ratings and targets, indicating a mixed outlook among analysts.

About Xcel Energy

Xcel Energy Inc., headquartered in Minneapolis, MN, operates as an electric and natural gas delivery company in the United States. It serves millions of customers through its regulated electric and natural gas utility segments. The company's performance in the utility sector is crucial, especially as it navigates recent challenges and prepares for its upcoming earnings report.

Bottom Line

Investors should keep an eye on Xcel Energy as it approaches its next earnings date on October 29, 2026. The stock's performance relative to Barclays' revised price target of $85 will be an important indicator of market sentiment in the utility sector.