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

Xcel Energy (NASDAQ:XEL) updated its FY 2024 earnings guidance on Friday. The company provided earnings per share guidance of 3.500-3.600 for the period, compared to the consensus earnings per share estimate of 3.570. The company issued revenue guidance of -.

Analysts Set New Price Targets

Several research firms have commented on XEL. Wells Fargo & Company increased their price objective on shares of Xcel Energy from $63.00 to $66.00 and gave the company an “equal weight” rating in a report on Wednesday. Jefferies Financial Group assumed coverage on Xcel Energy in a research report on Thursday, September 19th. They issued a “hold” rating and a $70.00 price target for the company. Morgan Stanley increased their target price on shares of Xcel Energy from $68.00 to $73.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 25th. KeyCorp lifted their price target on shares of Xcel Energy from $66.00 to $69.00 and gave the stock an “overweight” rating in a research note on Monday, September 30th. Finally, Argus raised shares of Xcel Energy from a “hold” rating to a “buy” rating and set a $68.00 price objective on the stock in a research report on Monday, August 26th. Eight equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $64.57.

Xcel Energy Trading Up 1.3 %

NASDAQ XEL opened at $64.07 on Friday. Xcel Energy has a 12-month low of $46.79 and a 12-month high of $65.64. The company has a fifty day simple moving average of $62.61 and a two-hundred day simple moving average of $57.53. The company has a current ratio of 0.97, a quick ratio of 0.86 and a debt-to-equity ratio of 1.54. The stock has a market cap 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.

Xcel Energy (NASDAQ:XEL) last issued its earnings results on Thursday, August 1st. The company reported $0.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.03). Xcel Energy had a return on equity of 10.94% and a net margin of 13.46%. The firm had revenue of $3.03 billion during the quarter, compared to analysts’ expectations of $3.29 billion. During the same quarter last year, the business earned $0.52 EPS. The business’s revenue was up .2% on a year-over-year basis. On average, analysts forecast that Xcel Energy will post 3.55 earnings per share for the current year.

Xcel Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Sunday, October 20th. Investors of record on Friday, September 13th will be given a dividend of $0.548 per share. The ex-dividend date of this dividend is Friday, September 13th. This is an increase from Xcel Energy’s previous quarterly dividend of $0.55. This represents a $2.19 dividend on an annualized basis and a yield of 3.42%. Xcel Energy’s payout ratio is currently 65.77%.

About Xcel Energy

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.