Xcel Energy (XEL) Announces Quarterly Earnings Results, Beats Expectations By $0.02 EPS
Xcel Energy (NYSE:XEL) issued its quarterly earnings data on Thursday. The company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.02, Analyst RN reports. The company had revenue of $2.82 billion for the quarter, compared to the consensus estimate of $2.98 billion. During the same quarter in the previous year, the company posted $0.81 earnings per share. The company’s revenue for the quarter was up 3.6% on a year-over-year basis. Xcel Energy updated its FY14 guidance to $1.90-2.05 EPS.
XEL has been the subject of a number of recent research reports. Analysts at Zacks reiterated a “neutral” rating on shares of Xcel Energy in a research note to investors on Wednesday, September 11th. They now have a $29.00 price target on the stock. On a related note, analysts at Jefferies Group upgraded shares of Xcel Energy from a “hold” rating to a “buy” rating in a research note to investors on Wednesday, September 11th. They now have a $31.00 price target on the stock, down previously from $32.50. Finally, analysts at JPMorgan Chase & Co. downgraded shares of Xcel Energy from a “neutral” rating to an “underweight” rating in a research note to investors on Tuesday, August 20th. They now have a $27.00 price target on the stock. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company’s stock. Xcel Energy has an average rating of “Hold” and an average price target of $31.00.
Shares of Xcel Energy (NYSE:XEL) traded down 0.25% on Thursday, hitting $28.9971. The stock had a trading volume of 808,262 shares. Xcel Energy has a 52-week low of $25.84 and a 52-week high of $31.79. The stock’s 50-day moving average is $28.51 and its 200-day moving average is $29.29. The company has a market cap of $14.428 billion and a price-to-earnings ratio of 14.70.
Xcel Energy Inc is a holding company with subsidiaries engaged primarily in the utility business. During the year ended December 31, 2012, the Company’s operations included the activity of four wholly owned utility subsidiaries that serve electric and natural gas customers in eight states.
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