Xcel Energy (NASDAQ:XEL) Updates FY24 Earnings Guidance

Xcel Energy (NASDAQ:XEL) updated its FY24 earnings guidance on Thursday. 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.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on XEL. Morgan Stanley increased their target price on Xcel Energy from $68.00 to $73.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 25th. Wells Fargo & Company upped their price target on Xcel Energy from $63.00 to $66.00 and gave the stock an “equal weight” rating in a research note on Wednesday. UBS Group upped their price target on Xcel Energy from $66.00 to $67.00 and gave the stock a “neutral” rating in a research note on Friday, September 20th. KeyCorp increased their target price on Xcel Energy from $66.00 to $69.00 and gave the company an “overweight” rating in a research note on Monday, September 30th. Finally, Argus upgraded Xcel Energy from a “hold” rating to a “buy” rating and set a $68.00 target price on the stock in a research note on Monday, August 26th. Eight equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $64.57.

Xcel Energy Stock Performance

Xcel Energy stock traded down $0.84 during trading on Thursday, reaching $63.17. The company had a trading volume of 1,214,606 shares, compared to its average volume of 4,139,814. Xcel Energy has a 52 week low of $46.79 and a 52 week high of $65.64. The firm’s 50-day simple moving average is $62.39 and its 200 day simple moving average is $57.39. The firm has a market capitalization of $35.10 billion, a price-to-earnings ratio of 19.22, a price-to-earnings-growth ratio of 2.75 and a beta of 0.39. The company has a current ratio of 0.97, a quick ratio of 0.86 and a debt-to-equity ratio of 1.54.

Xcel Energy (NASDAQ:XEL) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.54 EPS for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.03). The business had revenue of $3.03 billion for the quarter, compared to the consensus estimate of $3.29 billion. Xcel Energy had a net margin of 13.46% and a return on equity of 10.94%. Xcel Energy’s revenue was up .2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.52 earnings per share. Sell-side analysts forecast that Xcel Energy will post 3.55 earnings per share for the current fiscal year.

Xcel Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, October 20th. Shareholders of record on Friday, September 13th will be issued a dividend of $0.548 per share. The ex-dividend date is Friday, September 13th. This is a boost from Xcel Energy’s previous quarterly dividend of $0.55. This represents a $2.19 dividend on an annualized basis and a yield of 3.47%. Xcel Energy’s dividend payout ratio (DPR) is currently 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.