Xcel Energy (NASDAQ:XEL) Issues FY 2024 Earnings Guidance

Xcel Energy (NASDAQ:XEL) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided earnings per share guidance of 3.500-3.600 for the period, compared to the consensus earnings per share estimate of 3.570. The company issued revenue guidance of -.

Wall Street Analyst Weigh In

Several brokerages have commented on XEL. UBS Group raised their price objective on Xcel Energy from $66.00 to $67.00 and gave the company a “neutral” rating in a research report on Friday, September 20th. KeyCorp raised their target price on Xcel Energy from $66.00 to $69.00 and gave the stock an “overweight” rating in a research note on Monday, September 30th. Wells Fargo & Company raised their target price on shares of Xcel Energy from $63.00 to $66.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Morgan Stanley upped their price objective on Xcel Energy from $68.00 to $73.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 25th. Finally, Argus upgraded Xcel Energy from a “hold” rating to a “buy” rating and set a $68.00 price objective for the company in a report on Monday, August 26th. Eight investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Xcel Energy currently has an average rating of “Hold” and an average target price of $64.57.

Xcel Energy Stock Performance

XEL traded up $0.82 during midday trading on Friday, reaching $64.07. The company had a trading volume of 3,608,828 shares, compared to its average volume of 4,148,130. Xcel Energy has a 1 year low of $46.79 and a 1 year high of $65.64. The company has a quick ratio of 0.86, a current ratio of 0.97 and a debt-to-equity ratio of 1.54. The business has a 50-day moving average of $62.49 and a two-hundred day moving average of $57.43. The company has a market cap of $35.60 billion, a P/E ratio of 19.24, a P/E/G ratio of 2.75 and a beta of 0.39.

Xcel Energy (NASDAQ:XEL) last posted its earnings results on Thursday, August 1st. The company reported $0.54 EPS for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.03). Xcel Energy had a net margin of 13.46% and a return on equity of 10.94%. The business had revenue of $3.03 billion during the quarter, compared to analysts’ expectations of $3.29 billion. During the same quarter in the prior year, the firm earned $0.52 EPS. Xcel Energy’s revenue for the quarter was up .2% compared to the same quarter last year. As a group, equities research analysts predict that Xcel Energy will post 3.55 earnings per share for the current fiscal year.

Xcel Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, October 20th. Stockholders of record on Friday, September 13th will be paid a dividend of $0.548 per share. This represents a $2.19 annualized dividend and a dividend yield of 3.42%. The ex-dividend date is Friday, September 13th. This is an increase from Xcel Energy’s previous quarterly dividend of $0.55. Xcel Energy’s dividend payout ratio is 65.77%.

Xcel Energy Company Profile

Xcel Energy Inc, through its subsidiaries, engages in the generation, purchasing, transmission, distribution, and sale of electricity. It operates through Regulated Electric Utility, Regulated Natural Gas Utility, and All Other segments. The company generates electricity through wind, nuclear, hydroelectric, biomass, and solar energy sources, as well as coal, natural gas, oil, wood, and refuse-derived fuels.