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

Wall Street Analysts Forecast Growth

XEL has been the subject of a number of analyst reports. KeyCorp cut their price target on Xcel Energy from $68.00 to $65.00 and set an overweight rating for the company in a report on Friday, April 19th. StockNews.com lowered Xcel Energy from a hold rating to a sell rating in a report on Friday. Evercore ISI increased their price target on shares of Xcel Energy from $54.00 to $59.00 and gave the stock an outperform rating in a report on Friday. JPMorgan Chase & Co. cut their price objective on shares of Xcel Energy from $68.00 to $59.00 and set a neutral rating for the company in a research report on Wednesday, March 13th. Finally, Royal Bank of Canada upped their target price on shares of Xcel Energy from $67.00 to $68.00 and gave the stock a sector perform rating in a report on Tuesday, January 30th. One equities research analyst has rated the stock with a sell rating, five have issued 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 $62.58.

Xcel Energy Trading Down 1.9 %

Shares of XEL traded down $1.05 during trading hours on Friday, hitting $53.96. The company had a trading volume of 6,451,721 shares, compared to its average volume of 3,954,739. Xcel Energy has a 52-week low of $46.79 and a 52-week high of $70.72. The company has a quick ratio of 0.59, a current ratio of 0.72 and a debt-to-equity ratio of 1.41. The stock’s 50 day moving average price is $53.77 and its 200 day moving average price is $58.07. The firm has a market cap of $29.97 billion, a P/E ratio of 16.20, a P/E/G ratio of 2.37 and a beta of 0.36.

Xcel Energy (NASDAQ:XEL) last issued its earnings results on Thursday, April 25th. The company reported $0.88 EPS for the quarter, topping the consensus estimate of $0.80 by $0.08. The company had revenue of $3.65 billion for the quarter, compared to the consensus estimate of $4.12 billion. Xcel Energy had a net margin of 13.36% and a return on equity of 11.12%. The firm’s revenue for the quarter was down 10.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.76 earnings per share. On average, research analysts predict that Xcel Energy will post 3.56 EPS for the current year.

Xcel Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Saturday, April 20th. Stockholders of record on Friday, March 15th were paid a dividend of $0.548 per share. The ex-dividend date of this dividend was Thursday, March 14th. 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 4.06%. Xcel Energy’s payout ratio is 65.77%.

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.