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

Xcel Energy (NASDAQ:XEL) updated its FY 2024 earnings guidance on Thursday. The company provided EPS guidance of 3.500-3.600 for the period, compared to the consensus EPS estimate of 3.570. The company issued revenue guidance of -. Xcel Energy also updated its FY24 guidance to $3.50-3.60 EPS.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Wolfe Research raised Xcel Energy from a peer perform rating to an outperform rating and set a $58.00 price objective for the company in a research note 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. KeyCorp decreased their price objective on Xcel Energy from $68.00 to $65.00 and set an overweight rating for the company in a research note on Friday, April 19th. StockNews.com cut Xcel Energy from a hold rating to a sell rating in a research note on Saturday, April 20th. Finally, JPMorgan Chase & Co. decreased their price objective on Xcel Energy from $68.00 to $59.00 and set a neutral rating for the company in a research note on Wednesday, March 13th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of Hold and a consensus price target of $62.83.

Xcel Energy Stock Down 1.2 %

NASDAQ:XEL opened at $54.69 on Thursday. The company has a current ratio of 0.72, a quick ratio of 0.59 and a debt-to-equity ratio of 1.41. The stock has a market cap of $30.38 billion, a price-to-earnings ratio of 17.24, a PEG ratio of 2.42 and a beta of 0.36. The stock has a 50-day moving average price of $53.96 and a two-hundred day moving average price of $58.12. Xcel Energy has a 1 year low of $46.79 and a 1 year high of $70.97.

Xcel Energy (NASDAQ:XEL) last posted its quarterly earnings data on Thursday, January 25th. The company reported $0.83 earnings per share for the quarter, missing the consensus estimate of $0.85 by ($0.02). The firm had revenue of $3.44 billion for the quarter, compared to analyst estimates of $4.01 billion. Xcel Energy had a return on equity of 10.78% and a net margin of 12.47%. The firm’s quarterly revenue was down 15.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.69 earnings per share. As a group, equities analysts expect that Xcel Energy will post 3.56 earnings per share for the current year.

Xcel Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Saturday, April 20th. Stockholders of record on Friday, March 15th were given a dividend of $0.548 per share. 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 4.01%. The ex-dividend date of this dividend was Thursday, March 14th. Xcel Energy’s dividend payout ratio is currently 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.