Xcel Energy Inc. (NASDAQ:XEL) to Issue Dividend Increase – $0.57 Per Share

Xcel Energy Inc. (NASDAQ:XEL) declared a quarterly dividend on Wednesday, February 26th, RTT News reports. Shareholders of record on Friday, March 14th will be paid a dividend of 0.57 per share on Sunday, April 20th. This represents a $2.28 dividend on an annualized basis and a yield of 3.26%. This is an increase from Xcel Energy’s previous quarterly dividend of $0.55.

Xcel Energy has increased its dividend by an average of 6.2% annually over the last three years and has increased its dividend annually for the last 21 consecutive years. Xcel Energy has a payout ratio of 52.9% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Xcel Energy to earn $4.14 per share next year, which means the company should continue to be able to cover its $2.19 annual dividend with an expected future payout ratio of 52.9%.

Xcel Energy Trading Down 0.7 %

Shares of NASDAQ:XEL opened at $69.97 on Thursday. Xcel Energy has a 12-month low of $46.79 and a 12-month high of $73.38. The company has a market capitalization of $40.18 billion, a PE ratio of 20.34, a PEG ratio of 2.62 and a beta of 0.43. The business has a 50 day moving average of $67.27 and a two-hundred day moving average of $65.94. The company has a current ratio of 0.93, a quick ratio of 0.82 and a debt-to-equity ratio of 1.42.

Xcel Energy (NASDAQ:XEL) last announced its earnings results on Thursday, February 6th. The company reported $0.81 earnings per share for the quarter, missing the consensus estimate of $0.87 by ($0.06). Xcel Energy had a return on equity of 10.65% and a net margin of 14.40%. As a group, analysts forecast that Xcel Energy will post 3.82 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Morgan Stanley reduced their target price on Xcel Energy from $74.00 to $72.00 and set an “equal weight” rating for the company in a research note on Friday, November 22nd. Jefferies Financial Group upgraded Xcel Energy from a “hold” rating to a “buy” rating and boosted their price target for the stock from $71.00 to $76.00 in a research report on Friday, November 1st. Barclays dropped their price target on Xcel Energy from $71.00 to $69.00 and set an “overweight” rating for the company in a research report on Wednesday, January 22nd. JPMorgan Chase & Co. upgraded Xcel Energy from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $69.00 to $80.00 in a research report on Thursday, December 12th. Finally, Wells Fargo & Company boosted their price target on Xcel Energy from $72.00 to $75.00 and gave the stock an “overweight” rating in a research report on Friday, February 7th. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $69.91.

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.