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

Xcel Energy (NASDAQ:XEL) updated its FY 2024 earnings guidance on Thursday. The company provided EPS guidance of 3.500-3.600 for the period, compared to the consensus EPS estimate of 3.570. The company issued revenue guidance of -. Xcel Energy also updated its FY24 guidance to $3.50-3.60 EPS.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Barclays raised shares of Xcel Energy from an equal weight rating to an overweight rating and lowered their price objective for the company from $61.00 to $54.00 in a research note on Monday, March 11th. Wells Fargo & Company boosted their price objective on shares of Xcel Energy from $63.00 to $64.00 and gave the company an equal weight rating in a research note on Friday, January 26th. JPMorgan Chase & Co. lowered 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 note on Wednesday, March 13th. KeyCorp lowered their price objective on shares of Xcel Energy from $68.00 to $65.00 and set an overweight rating for the company in a research note on Friday, April 19th. Finally, Royal Bank of Canada boosted their price objective on shares of Xcel Energy from $67.00 to $68.00 and gave the company a sector perform rating in a research note on Tuesday, January 30th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Xcel Energy presently has an average rating of Hold and an average target price of $62.83.

Xcel Energy Stock Down 1.2 %

Shares of Xcel Energy stock opened at $54.69 on Thursday. 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 company has a fifty day moving average price of $53.96 and a 200 day moving average price of $58.12. The stock has a market cap of $30.38 billion, a price-to-earnings ratio of 17.24, a price-to-earnings-growth ratio of 2.42 and a beta of 0.36. Xcel Energy has a twelve month low of $46.79 and a twelve month high of $70.97.

Xcel Energy (NASDAQ:XEL) last posted its quarterly earnings data on Thursday, January 25th. The company reported $0.83 earnings per share for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.02). The firm had revenue of $3.44 billion during the quarter, compared to analysts’ expectations of $4.01 billion. Xcel Energy had a net margin of 12.47% and a return on equity of 10.78%. The business’s quarterly revenue was down 15.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.69 earnings per share. Equities research analysts forecast that Xcel Energy will post 3.56 earnings per share for the current fiscal year.

Xcel Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Saturday, April 20th. Shareholders of record on Friday, March 15th were given a $0.548 dividend. This is a boost from Xcel Energy’s previous quarterly dividend of $0.52. This represents a $2.19 dividend on an annualized basis and a yield of 4.01%. The ex-dividend date was Thursday, March 14th. Xcel Energy’s dividend payout ratio is presently 68.22%.

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.