Xcel Energy (NASDAQ:XEL) Releases 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 (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 Trading Up 1.3 %

Shares of XEL opened at $64.07 on Monday. Xcel Energy has a 1-year low of $46.79 and a 1-year high of $65.64. The company has a market capitalization 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. The company has a debt-to-equity ratio of 1.54, a current ratio of 0.97 and a quick ratio of 0.86. The firm’s 50 day simple moving average is $62.61 and its 200 day simple moving average is $57.55.

Xcel Energy (NASDAQ:XEL) last released 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 firm had revenue of $3.03 billion during the quarter, compared to the consensus estimate of $3.29 billion. During the same period in the prior year, the company earned $0.52 EPS. The firm’s revenue was up .2% compared to the same quarter last year. Sell-side analysts forecast that Xcel Energy will post 3.55 earnings per share for the current fiscal year.

Xcel Energy Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. KeyCorp boosted their price objective on shares of Xcel Energy from $66.00 to $69.00 and gave the stock an “overweight” rating in a report on Monday, September 30th. Jefferies Financial Group initiated coverage on shares of Xcel Energy in a research report on Thursday, September 19th. They issued a “hold” rating and a $70.00 target price on the stock. Morgan Stanley upped their price target on shares of Xcel Energy from $68.00 to $73.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 25th. Wells Fargo & Company lifted their price objective on Xcel Energy from $63.00 to $66.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 16th. Finally, UBS Group boosted their target price on Xcel Energy from $66.00 to $67.00 and gave the company a “neutral” rating in a research note on Friday, September 20th. Eight equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus 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.