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

Xcel Energy (NASDAQ:XEL) issued an update on its FY 2024 earnings guidance on Friday 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 Trading Up 1.3 %

Shares of XEL opened at $64.07 on Friday. The company has a debt-to-equity ratio of 1.54, a current ratio of 0.97 and a quick ratio of 0.86. The firm has a market capitalization of $35.60 billion, a price-to-earnings ratio of 19.24, a PEG ratio of 2.75 and a beta of 0.39. The company has a 50-day moving average of $62.61 and a 200 day moving average of $57.50. Xcel Energy has a 1-year low of $46.79 and a 1-year high of $65.64.

Xcel Energy (NASDAQ:XEL) last released its quarterly earnings data on Thursday, August 1st. The company reported $0.54 EPS for the quarter, missing the consensus estimate of $0.57 by ($0.03). Xcel Energy had a return on equity of 10.94% and a net margin of 13.46%. The firm had revenue of $3.03 billion for the quarter, compared to analysts’ expectations of $3.29 billion. During the same quarter in the previous year, the business earned $0.52 earnings per share. The company’s revenue for the quarter was up .2% compared to the same quarter last year. On average, research analysts expect that Xcel Energy will post 3.55 EPS for the current year.

Xcel Energy Increases Dividend

The business 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 $0.548 dividend. The ex-dividend date is Friday, September 13th. This represents a $2.19 dividend on an annualized basis and a dividend yield of 3.42%. This is a boost from Xcel Energy’s previous quarterly dividend of $0.55. Xcel Energy’s dividend payout ratio (DPR) is currently 65.77%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on XEL shares. Argus raised Xcel Energy from a “hold” rating to a “buy” rating and set a $68.00 price objective for the company in a report on Monday, August 26th. Morgan Stanley raised their price target on shares of Xcel Energy from $68.00 to $73.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 25th. UBS Group upped their target price on shares of Xcel Energy from $66.00 to $67.00 and gave the stock a “neutral” rating in a report on Friday, September 20th. KeyCorp increased their price target on Xcel Energy from $66.00 to $69.00 and gave the company an “overweight” rating in a report on Monday, September 30th. Finally, Jefferies Financial Group started coverage on shares of Xcel Energy in a research note on Thursday, September 19th. They issued a “hold” rating and a $70.00 price target for the company. Eight research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $64.57.

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.