FY2024 Earnings Forecast for Xcel Energy Issued By KeyCorp

Xcel Energy Inc. (NASDAQ:XEL) – Equities researchers at KeyCorp decreased their FY2024 earnings per share estimates for Xcel Energy in a report released on Tuesday, December 3rd. KeyCorp analyst S. Karp now anticipates that the company will earn $3.52 per share for the year, down from their prior forecast of $3.55. KeyCorp has a “Overweight” rating and a $79.00 price objective on the stock. The consensus estimate for Xcel Energy’s current full-year earnings is $3.54 per share. KeyCorp also issued estimates for Xcel Energy’s FY2026 earnings at $4.13 EPS, FY2027 earnings at $4.43 EPS and FY2028 earnings at $4.82 EPS.

A number of other equities analysts have also recently issued reports on the company. Jefferies Financial Group raised Xcel Energy from a “hold” rating to a “buy” rating and increased their target price for the stock from $71.00 to $76.00 in a report on Friday, November 1st. Argus raised Xcel Energy from a “hold” rating to a “buy” rating and set a $68.00 price objective for the company in a report on Monday, August 26th. Barclays boosted their target price on shares of Xcel Energy from $67.00 to $71.00 and gave the company an “overweight” rating in a research note on Tuesday, November 26th. Wells Fargo & Company increased their target price 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, October 16th. Finally, Morgan Stanley reduced their price target on shares of Xcel Energy from $74.00 to $72.00 and set an “equal weight” rating on the stock in a research report on Friday, November 22nd. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $67.00.

Xcel Energy Stock Down 1.6 %

XEL opened at $69.74 on Friday. Xcel Energy has a fifty-two week low of $46.79 and a fifty-two week high of $73.38. The company has a market capitalization of $40.05 billion, a P/E ratio of 20.69, a P/E/G ratio of 2.89 and a beta of 0.41. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.93 and a quick ratio of 0.82. The firm’s fifty day moving average price is $66.88 and its two-hundred day moving average price is $60.89.

Xcel Energy (NASDAQ:XEL) last posted its quarterly earnings results on Thursday, October 31st. The company reported $1.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.26 by ($0.01). The company had revenue of $3.64 billion during the quarter, compared to analyst estimates of $3.93 billion. Xcel Energy had a return on equity of 10.76% and a net margin of 13.67%. The business’s revenue for the quarter was down .5% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.23 earnings per share.

Institutional Investors Weigh In On Xcel Energy

Several large investors have recently bought and sold shares of the company. Synovus Financial Corp raised its position in shares of Xcel Energy by 17.7% during the third quarter. Synovus Financial Corp now owns 5,795 shares of the company’s stock worth $378,000 after purchasing an additional 873 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in Xcel Energy during the 3rd quarter worth approximately $1,124,000. Sanctuary Advisors LLC raised its holdings in Xcel Energy by 28.7% during the 3rd quarter. Sanctuary Advisors LLC now owns 82,826 shares of the company’s stock worth $5,910,000 after buying an additional 18,489 shares during the period. Stock Yards Bank & Trust Co. lifted its stake in Xcel Energy by 12.6% in the third quarter. Stock Yards Bank & Trust Co. now owns 5,984 shares of the company’s stock valued at $391,000 after buying an additional 668 shares in the last quarter. Finally, Virtu Financial LLC boosted its holdings in shares of Xcel Energy by 12.0% in the third quarter. Virtu Financial LLC now owns 4,347 shares of the company’s stock valued at $284,000 after buying an additional 466 shares during the period. Institutional investors 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.