Xcel Energy (NASDAQ:XEL) Releases FY24 Earnings Guidance

Xcel Energy (NASDAQ:XEL) issued an update on its FY24 earnings guidance on Thursday morning. The company provided EPS guidance of $3.50-3.60 for the period, compared to the consensus EPS estimate of $3.56. Xcel Energy also updated its FY 2025 guidance to 3.750-3.850 EPS.

Analysts Set New Price Targets

XEL has been the subject of a number of research analyst reports. KeyCorp lifted their price target on Xcel Energy from $69.00 to $74.00 and gave the stock an “overweight” rating in a report on Friday. Morgan Stanley lifted their target price 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. Argus upgraded Xcel Energy from a “hold” rating to a “buy” rating and set a $68.00 price target on the stock in a research note on Monday, August 26th. Wells Fargo & Company lifted their price objective 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, Jefferies Financial Group raised shares of Xcel Energy from a “hold” rating to a “buy” rating and increased their price objective for the company from $71.00 to $76.00 in a research report on Friday. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $66.38.

Xcel Energy Stock Performance

Shares of XEL traded down $0.12 during mid-day trading on Friday, hitting $66.69. 6,860,953 shares of the company’s stock were exchanged, compared to its average volume of 3,615,531. The company has a quick ratio of 0.86, a current ratio of 0.97 and a debt-to-equity ratio of 1.54. Xcel Energy has a 52 week low of $46.79 and a 52 week high of $68.36. The stock’s 50-day simple moving average is $63.61 and its 200-day simple moving average is $58.29. The firm has a market cap of $37.18 billion, a price-to-earnings ratio of 19.79, a price-to-earnings-growth ratio of 2.94 and a beta of 0.38.

Xcel Energy (NASDAQ:XEL) last posted its quarterly earnings data on Thursday, October 31st. The company reported $1.25 EPS for the quarter, missing analysts’ consensus estimates of $1.31 by ($0.06). The company had revenue of $3.64 billion for the quarter, compared to the consensus estimate of $3.93 billion. Xcel Energy had a return on equity of 10.99% and a net margin of 13.67%. Xcel Energy’s revenue was down .5% on a year-over-year basis. During the same quarter last year, the business earned $1.23 EPS. On average, equities research analysts expect that Xcel Energy will post 3.55 EPS for the current year.

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.