Jefferies reiterated a Hold rating on Xcel Energy (NYSE: XEL), and raised the price target to $38.50 (from $37.00), following the company's 4Q earnings report. XEL reported EPS of $0.41, compared to last year's earnings of $0.39, and consensus of $0.40. The company reaffirmed 2016 EPS guidance of $2.12-$2.27 per share.

Analyst Anthony Crowdell commented, "XEL reported 4Q15 EPS of $0.41 versus $0.39 in 4Q14, our estimate of $0.40, and Consensus of $0.40. Management reaffirmed 2016 guidance of $2.12-$2.27 per share. The extension of bonus depreciation through 2019 resulted in the company reducing their rate base CAGR to 2020 by 80 bps to 3.7% from 4.5%."

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Shares of Xcel Energy closed at $37.57 yesterday.