Xcel Energy (NYSE:XEL) Announces Quarterly Earnings Results

Xcel Energy (NYSE:XEL) posted its quarterly earnings data on Thursday. The utilities provider reported $1.01 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.03 by ($0.02), RTT News reports. The firm had revenue of $3.01 billion for the quarter, compared to analyst estimates of $3.55 billion. During the same period in the prior year, the firm earned $0.96 EPS. The company’s revenue for the quarter was down 1.1% on a year-over-year basis. Xcel Energy updated its FY19 guidance to $2.60-2.65 EPS and its FY20 guidance to $2.73-2.83 EPS.

Shares of Xcel Energy stock traded up $0.12 during trading on Thursday, hitting $64.56. 202,376 shares of the company’s stock were exchanged, compared to its average volume of 3,237,489. The business has a 50-day simple moving average of $64.15 and a 200-day simple moving average of $60.48. Xcel Energy has a 52-week low of $47.44 and a 52-week high of $66.05.

The firm also recently announced a quarterly dividend, which was paid on Sunday, October 20th. Investors of record on Friday, September 13th were issued a dividend of $0.405 per share. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $1.62 annualized dividend and a dividend yield of 2.51%.

In related news, insider Christopher B. Clark sold 2,500 shares of the firm’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $62.38, for a total transaction of $155,950.00. Following the completion of the transaction, the insider now owns 16,560 shares of the company’s stock, valued at $1,033,012.80. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Scott M. Wilensky sold 15,000 shares of the firm’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $61.71, for a total transaction of $925,650.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 49,382 shares of company stock valued at $3,133,045. 0.22% of the stock is currently owned by corporate insiders.

XEL has been the subject of several research reports. Mizuho lifted their price objective on shares of Xcel Energy from $50.00 to $64.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. Zacks Investment Research upgraded shares of Xcel Energy from a “sell” rating to a “hold” rating and set a $66.00 price objective for the company in a research note on Monday, August 26th. KeyCorp lifted their price objective on shares of Xcel Energy from $67.00 to $73.00 and gave the stock an “overweight” rating in a research note on Monday. Bank of America downgraded shares of Xcel Energy from a “neutral” rating to an “underperform” rating and set a $62.00 price objective for the company. in a research note on Monday, September 30th. Finally, Barclays downgraded shares of Xcel Energy from an “overweight” rating to an “equal weight” rating and set a $64.00 price objective for the company. in a research note on Tuesday, August 13th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $64.20.

Xcel Energy Company Profile

Xcel Energy Inc is a public utility holding company. The Company’s operations include the activity of four utility subsidiaries that serve electric and natural gas customers in eight states. The Company’s segments include regulated electric utility, regulated natural gas utility and all other. The Company’s utility subsidiaries include NSP-Minnesota, NSP-Wisconsin, Public Service Company of Colorado (PSCo) and Southwestern Public Service Co (SPS), which serve customers in portions of Colorado, Michigan, Minnesota, New Mexico, North Dakota, South Dakota, Texas and Wisconsin.

Further Reading: What is a Leveraged Buyout (LBO)?

Earnings History for Xcel Energy (NYSE:XEL)

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