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

Xcel Energy (NASDAQ:XEL) updated its FY 2024 earnings guidance on Thursday. 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 also updated its FY24 guidance to $3.50-3.60 EPS.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on XEL shares. Barclays upgraded Xcel Energy from an equal weight rating to an overweight rating and decreased their price objective for the company from $61.00 to $54.00 in a report on Monday, March 11th. Wells Fargo & Company lifted their price objective on Xcel Energy from $63.00 to $64.00 and gave the stock an equal weight rating in a research note on Friday, January 26th. Royal Bank of Canada upped their target price on Xcel Energy from $67.00 to $68.00 and gave the company a sector perform rating in a report on Tuesday, January 30th. StockNews.com lowered shares of Xcel Energy from a hold rating to a sell rating in a report on Friday. Finally, Wolfe Research raised shares of Xcel Energy from a peer perform rating to an outperform rating and set a $58.00 price objective on the stock in a research note on Monday, March 11th. One research analyst has rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of Hold and an average price target of $62.58.

Xcel Energy Price Performance

Shares of XEL stock traded down $1.05 during trading on Friday, hitting $53.96. The company had a trading volume of 6,451,721 shares, compared to its average volume of 3,954,739. The stock’s 50-day moving average is $53.77 and its two-hundred day moving average is $58.07. The stock has a market capitalization of $29.97 billion, a price-to-earnings ratio of 16.81, a price-to-earnings-growth ratio of 2.41 and a beta of 0.36. The company has a quick ratio of 0.59, a current ratio of 0.72 and a debt-to-equity ratio of 1.41. Xcel Energy has a 52 week low of $46.79 and a 52 week high of $70.72.

Xcel Energy (NASDAQ:XEL) last announced its earnings results on Thursday, April 25th. The company reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.08. The company had revenue of $3.65 billion during the quarter, compared to analyst estimates of $4.12 billion. Xcel Energy had a net margin of 13.36% and a return on equity of 11.12%. The firm’s quarterly revenue was down 10.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.76 earnings per share. As a group, analysts predict that Xcel Energy will post 3.56 EPS for the current fiscal year.

Xcel Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Saturday, April 20th. Stockholders of record on Friday, March 15th were paid a dividend of $0.548 per share. The ex-dividend date of this dividend was Thursday, March 14th. This is a boost from Xcel Energy’s previous quarterly dividend of $0.52. This represents a $2.19 annualized dividend and a dividend yield of 4.06%. Xcel Energy’s payout ratio is 68.22%.

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.