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

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

Xcel Energy Stock Performance

Shares of XEL stock opened at $64.07 on Friday. The firm has a market capitalization 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 company has a 50 day moving average price of $62.61 and a 200 day moving average price of $57.50. Xcel Energy has a one year low of $46.79 and a one year high of $65.64. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.86 and a current ratio of 0.97.

Xcel Energy (NASDAQ:XEL) last released its quarterly earnings data 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 return on equity of 10.94% and a net margin of 13.46%. The firm had revenue of $3.03 billion for the quarter, compared to analyst estimates of $3.29 billion. During the same quarter in the previous year, the company earned $0.52 earnings per share. The company’s quarterly revenue was up .2% on a year-over-year basis. Sell-side analysts anticipate that Xcel Energy will post 3.55 EPS for the current year.

Xcel Energy Increases Dividend

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

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on XEL. KeyCorp increased their target price on shares of Xcel Energy from $66.00 to $69.00 and gave the stock an “overweight” rating in a research report on Monday, September 30th. Wells Fargo & Company increased their price objective 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 lifted their target price on shares of Xcel Energy from $68.00 to $73.00 and gave the company an “equal weight” rating in a report on Wednesday, September 25th. Argus upgraded Xcel Energy from a “hold” rating to a “buy” rating and set a $68.00 price target for the company in a report on Monday, August 26th. Finally, Jefferies Financial Group started coverage on Xcel Energy in a research note on Thursday, September 19th. They set a “hold” rating and a $70.00 price objective on the stock. Eight equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $64.57.

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.