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 EPS guidance of $3.50-3.60 for the period, compared to the consensus EPS 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. The company has a market capitalization of $30.68 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 one year low of $46.79 and a one year high of $70.97. The stock has a 50-day simple moving average of $53.96 and a 200 day simple moving average of $58.12. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.59 and a current ratio of 0.72.

Xcel Energy (NASDAQ:XEL) last issued its earnings results on Thursday, January 25th. The company reported $0.83 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 company had revenue of $3.44 billion during the quarter, compared to analyst estimates of $4.01 billion. During the same quarter in the previous year, the firm earned $0.69 earnings per share. The business’s revenue was down 15.1% on a year-over-year basis. Sell-side analysts predict that Xcel Energy will post 3.56 EPS for the current fiscal year.

Xcel Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Saturday, April 20th. Stockholders of record on Friday, March 15th were issued a dividend of $0.548 per share. This represents a $2.19 dividend on an annualized basis and a dividend yield of 3.97%. The ex-dividend date was Thursday, March 14th. This is a boost from Xcel Energy’s previous quarterly dividend of $0.52. Xcel Energy’s payout ratio is 68.22%.

Analyst Upgrades and Downgrades

XEL has been the topic of a number of recent analyst reports. Wells Fargo & Company lifted their price target on Xcel Energy from $63.00 to $64.00 and gave the company an equal weight rating in a report on Friday, January 26th. TheStreet cut Xcel Energy from a b- rating to a c+ rating in a report on Thursday, March 14th. StockNews.com cut Xcel Energy from a hold rating to a sell rating in a report on Saturday, April 20th. KeyCorp dropped their target price on Xcel Energy from $68.00 to $65.00 and set an overweight rating on the stock in a report on Friday, April 19th. Finally, Wolfe Research raised Xcel Energy from a peer perform rating to an outperform rating and set a $58.00 target price on the stock in a report on Monday, March 11th. One analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of Hold and a consensus target price of $62.83.

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.