Xcel Energy (NASDAQ:XEL) Updates FY24 Earnings Guidance

Xcel Energy (NASDAQ:XEL) updated its FY24 earnings guidance on Thursday. The company provided earnings per share guidance of $3.50-3.60 for the period, compared to the consensus earnings per share estimate of $3.57. Xcel Energy also updated its FY 2024 guidance to 3.500-3.600 EPS.

Analyst Ratings Changes

Several research firms recently commented on XEL. Evercore ISI boosted their price target on Xcel Energy from $54.00 to $59.00 and gave the stock an outperform rating in a research report on Friday. KeyCorp cut their target price on Xcel Energy from $68.00 to $65.00 and set an overweight rating on the stock in a research report on Friday, April 19th. Wells Fargo & Company upped their target price on Xcel Energy from $63.00 to $64.00 and gave the company an equal weight rating in a research report 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 research report on Tuesday, January 30th. Finally, Barclays raised Xcel Energy from an equal weight rating to an overweight rating and cut their target price for the company from $61.00 to $54.00 in a research report on Monday, March 11th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of Hold and a consensus target price of $62.58.

Xcel Energy Trading Down 1.9 %

Shares of NASDAQ XEL traded down $1.05 during mid-day trading on Friday, hitting $53.96. 6,451,721 shares of the company traded hands, compared to its average volume of 3,954,739. Xcel Energy has a 1 year low of $46.79 and a 1 year high of $70.72. The stock has a market capitalization of $29.97 billion, a price-to-earnings ratio of 16.81, a PEG 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. The business has a 50 day moving average of $53.77 and a two-hundred day moving average of $58.07.

Xcel Energy (NASDAQ:XEL) last announced its quarterly earnings data 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. Xcel Energy had a return on equity of 11.12% and a net margin of 13.36%. The firm had revenue of $3.65 billion during the quarter, compared to the consensus estimate of $4.12 billion. During the same period in the prior year, the business earned $0.76 EPS. The business’s revenue for the quarter was down 10.6% on a year-over-year basis. On average, sell-side analysts anticipate that Xcel Energy will post 3.56 earnings per share for the current fiscal year.

Xcel Energy Increases Dividend

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