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

Xcel Energy (NASDAQ:XELGet Free Report) updated its FY 2024 earnings guidance on Friday. The company provided earnings per share (EPS) guidance of 3.500-3.600 for the period, compared to the consensus estimate of 3.570. The company issued revenue guidance of -.

Xcel Energy Price Performance

XEL opened at $64.07 on Monday. The company has a current ratio of 0.97, a quick ratio of 0.86 and a debt-to-equity ratio of 1.54. The company has a market cap of $35.60 billion, a price-to-earnings ratio of 19.24, a price-to-earnings-growth ratio of 2.75 and a beta of 0.39. The stock has a fifty day simple moving average of $62.61 and a two-hundred day simple moving average of $57.55. Xcel Energy has a 12-month low of $46.79 and a 12-month high of $65.64.

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

Xcel Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, October 20th. Stockholders of record on Friday, September 13th were issued a dividend of $0.548 per share. This represents a $2.19 annualized dividend and a dividend yield of 3.42%. This is a positive change from Xcel Energy’s previous quarterly dividend of $0.55. The ex-dividend date was Friday, September 13th. Xcel Energy’s dividend payout ratio (DPR) is presently 65.77%.

Analyst Ratings Changes

Several analysts recently weighed in on the company. UBS Group upped their price target on Xcel Energy from $66.00 to $67.00 and gave the stock a “neutral” rating in a research note on Friday, September 20th. Jefferies Financial Group began coverage on Xcel Energy in a research note on Thursday, September 19th. They issued a “hold” rating and a $70.00 target price on the stock. Wells Fargo & Company lifted their price target on Xcel Energy from $63.00 to $66.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 16th. KeyCorp increased their price objective on shares of Xcel Energy from $66.00 to $69.00 and gave the company an “overweight” rating in a research report on Monday, September 30th. Finally, Argus raised shares of Xcel Energy from a “hold” rating to a “buy” rating and set a $68.00 target price for the company in a report on Monday, August 26th. Eight investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Xcel Energy has an average rating of “Hold” and a consensus target price of $64.57.

Check Out Our Latest Research Report on XEL

About Xcel Energy

(Get Free Report)

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.

Further Reading

Earnings History and Estimates for Xcel Energy (NASDAQ:XEL)

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