Xcel Energy (NASDAQ:XEL) Updates FY24 Earnings Guidance

Xcel Energy (NASDAQ:XEL) issued an update on its FY24 earnings guidance on Thursday morning. 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 have commented on XEL. Wolfe Research raised shares of Xcel Energy from a peer perform rating to an outperform rating and set a $58.00 target price on the stock in a research report on Monday, March 11th. TheStreet cut shares of Xcel Energy from a b- rating to a c+ rating in a research report on Thursday, March 14th. Wells Fargo & Company lifted their target price on shares of Xcel Energy from $63.00 to $64.00 and gave the stock an equal weight rating in a research report on Friday, January 26th. Royal Bank of Canada upped their price objective on Xcel Energy from $67.00 to $68.00 and gave the company a sector perform rating in a research note on Tuesday, January 30th. Finally, StockNews.com downgraded Xcel Energy from a hold rating to a sell rating in a research note on Friday. One analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of Hold and a consensus target price of $62.58.

Xcel Energy Price Performance

XEL traded down $1.05 during trading on Friday, reaching $53.96. The stock had a trading volume of 6,334,147 shares, compared to its average volume of 5,418,778. The stock has a market cap of $29.97 billion, a PE ratio of 16.81, a PEG ratio of 2.43 and a beta of 0.36. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.59 and a current ratio of 0.72. Xcel Energy has a one year low of $46.79 and a one year high of $70.72. The business has a 50-day moving average of $53.77 and a 200-day moving average of $58.07.

Xcel Energy (NASDAQ:XEL) last released its earnings results on Thursday, April 25th. The company reported $0.88 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $0.08. The business had revenue of $3.65 billion for the quarter, compared to analysts’ expectations of $4.12 billion. Xcel Energy had a return on equity of 10.78% and a net margin of 12.47%. The firm’s revenue was down 10.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.76 earnings per share. As a group, equities research analysts anticipate that Xcel Energy will post 3.56 EPS for the current fiscal year.

Xcel Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Saturday, April 20th. Shareholders of record on Friday, March 15th were given a dividend of $0.548 per share. This represents a $2.19 annualized dividend and a yield of 4.06%. This is a positive change from Xcel Energy’s previous quarterly dividend of $0.52. The ex-dividend date 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.