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

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

Analysts Set New Price Targets

XEL has been the subject of several analyst reports. Wolfe Research raised shares of 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. Royal Bank of Canada raised their price target on Xcel Energy from $67.00 to $68.00 and gave the stock a sector perform rating in a research note on Tuesday, January 30th. Barclays raised Xcel Energy from an equal weight rating to an overweight rating and cut their price objective for the company from $61.00 to $54.00 in a research report on Monday, March 11th. Evercore ISI lifted their target price on Xcel Energy from $54.00 to $59.00 and gave the stock an outperform rating in a research report on Friday. Finally, Wells Fargo & Company upped their price target on shares of Xcel Energy from $63.00 to $64.00 and gave the stock an equal weight rating in a report on Friday, January 26th. One research analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of Hold and a consensus price target of $62.58.

Xcel Energy Stock Down 1.9 %

Shares of NASDAQ:XEL traded down $1.05 during trading hours on Friday, hitting $53.96. The company’s stock had a trading volume of 6,451,721 shares, compared to its average volume of 3,954,739. The firm’s fifty day moving average price is $53.77 and its 200 day moving average price is $58.07. Xcel Energy has a 52 week low of $46.79 and a 52 week high of $70.72. The company has a market capitalization of $29.97 billion, a price-to-earnings ratio of 16.20, a P/E/G ratio of 2.37 and a beta of 0.36. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.72 and a quick ratio of 0.59.

Xcel Energy (NASDAQ:XEL) last issued its quarterly earnings data on Thursday, April 25th. The company reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.08. The company had revenue of $3.65 billion for the quarter, compared to analyst estimates of $4.12 billion. Xcel Energy had a net margin of 13.36% and a return on equity of 11.12%. Xcel Energy’s revenue was down 10.6% compared to the same quarter last year. During the same period last year, the company posted $0.76 earnings per share. As a group, research analysts expect that Xcel Energy will post 3.56 EPS for the current year.

Xcel Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Saturday, April 20th. Investors of record on Friday, March 15th were paid 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 dividend on an annualized basis and a dividend yield of 4.06%. The ex-dividend date was Thursday, March 14th. Xcel Energy’s dividend payout ratio is 65.77%.

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.