Xcel Energy (NASDAQ:XEL) Updates FY24 Earnings Guidance

Xcel Energy (NASDAQ:XEL) issued an update on its FY24 earnings guidance on Thursday morning. 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. Xcel Energy also updated its FY 2024 guidance to 3.500-3.600 EPS.

Xcel Energy Stock Down 0.2 %

NASDAQ:XEL opened at $55.24 on Thursday. Xcel Energy has a 1 year low of $46.79 and a 1 year high of $70.97. 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 $30.68 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 (NASDAQ:XEL) last posted its earnings results on Thursday, January 25th. The company reported $0.83 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.02). Xcel Energy had a net margin of 12.47% and a return on equity of 10.78%. The business had revenue of $3.44 billion during the quarter, compared to analyst estimates of $4.01 billion. During the same period in the previous year, the firm posted $0.69 earnings per share. The firm’s revenue was down 15.1% on a year-over-year basis. 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 3.97%. The ex-dividend date of this dividend was Thursday, March 14th. Xcel Energy’s dividend payout ratio is currently 68.22%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. JPMorgan Chase & Co. reduced their price objective on Xcel Energy from $68.00 to $59.00 and set a neutral rating for the company in a research report on Wednesday, March 13th. TheStreet cut Xcel Energy from a b- rating to a c+ rating in a research report on Thursday, March 14th. Wells Fargo & Company upped their price objective on Xcel Energy from $63.00 to $64.00 and gave the stock an equal weight rating in a research report on Friday, January 26th. StockNews.com cut Xcel Energy from a hold rating to a sell rating in a research report on Saturday, April 20th. Finally, KeyCorp reduced their price objective on Xcel Energy from $68.00 to $65.00 and set an overweight rating for the company in a research report on Friday, April 19th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Xcel Energy presently has a consensus rating of Hold and an average target price of $62.83.

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.