KeyCorp Predicts Xcel Energy’s Q3 Earnings (NASDAQ:XEL)

Xcel Energy Inc. (NASDAQ:XEL) – Equities researchers at KeyCorp lowered their Q3 2024 earnings per share estimates for shares of Xcel Energy in a research report issued on Monday, October 21st. KeyCorp analyst S. Karp now expects that the company will post earnings per share of $1.31 for the quarter, down from their previous estimate of $1.36. KeyCorp currently has a “Overweight” rating and a $69.00 target price on the stock. The consensus estimate for Xcel Energy’s current full-year earnings is $3.55 per share. KeyCorp also issued estimates for Xcel Energy’s Q4 2024 earnings at $0.82 EPS, FY2026 earnings at $4.09 EPS, FY2027 earnings at $4.33 EPS and FY2028 earnings at $4.62 EPS.

Xcel Energy (NASDAQ:XEL) last announced 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). The company had revenue of $3.03 billion during the quarter, compared to the consensus estimate of $3.29 billion. Xcel Energy had a return on equity of 10.94% and a net margin of 13.46%. The company’s revenue for the quarter was up .2% on a year-over-year basis. During the same period last year, the business posted $0.52 EPS.

Several other analysts also recently weighed in on the company. Argus raised Xcel Energy from a “hold” rating to a “buy” rating and set a $68.00 target price on the stock in a research note on Monday, August 26th. Wells Fargo & Company boosted their price objective on Xcel Energy from $63.00 to $66.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. Jefferies Financial Group assumed coverage on Xcel Energy in a research note on Thursday, September 19th. They issued a “hold” rating and a $70.00 price objective on the stock. Morgan Stanley boosted their price objective on Xcel Energy from $68.00 to $73.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 25th. Finally, Barclays boosted their price objective on Xcel Energy from $57.00 to $67.00 and gave the stock an “overweight” rating in a research note on Monday, October 21st. Eight analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $65.54.

Xcel Energy Stock Down 1.0 %

Shares of Xcel Energy stock opened at $64.46 on Thursday. The business’s fifty day moving average price is $63.03 and its two-hundred day moving average price is $57.79. 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 company has a market capitalization of $35.94 billion, a P/E ratio of 19.24, a PEG ratio of 2.80 and a beta of 0.39. Xcel Energy has a 1-year low of $46.79 and a 1-year high of $65.76.

Xcel Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, October 20th. Shareholders of record on Friday, September 13th were given a $0.548 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $2.19 dividend on an annualized basis and a dividend yield of 3.40%. This is a boost from Xcel Energy’s previous quarterly dividend of $0.55. Xcel Energy’s payout ratio is currently 65.37%.

Institutional Trading of Xcel Energy

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. TruNorth Capital Management LLC acquired a new position in shares of Xcel Energy during the 2nd quarter worth about $30,000. American National Bank acquired a new position in shares of Xcel Energy during the 2nd quarter worth about $32,000. Kimelman & Baird LLC acquired a new position in shares of Xcel Energy during the 2nd quarter worth about $35,000. Rothschild Investment LLC acquired a new position in shares of Xcel Energy during the 2nd quarter worth about $37,000. Finally, Voisard Asset Management Group Inc. acquired a new position in shares of Xcel Energy during the 2nd quarter worth about $43,000. Institutional investors and hedge funds own 78.38% of the company’s stock.

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.