Xcel Energy (NASDAQ:XEL) Announces Earnings Results

Xcel Energy (NASDAQ:XEL) issued its earnings results on Thursday. The company reported $0.88 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.08, Briefing.com reports. The business had revenue of $3.65 billion during the quarter, compared to analyst estimates of $4.12 billion. Xcel Energy had a return on equity of 11.12% and a net margin of 13.36%. Xcel Energy’s revenue was down 10.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.76 EPS. Xcel Energy updated its FY24 guidance to $3.50-3.60 EPS and its FY 2024 guidance to 3.500-3.600 EPS.

Xcel Energy Stock Down 1.9 %

Xcel Energy stock opened at $53.96 on Friday. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.59 and a current ratio of 0.72. The business’s 50-day simple moving average is $53.77 and its two-hundred day simple moving average is $58.07. The company has a market cap of $29.97 billion, a PE ratio of 16.81, a PEG ratio of 2.41 and a beta of 0.36. Xcel Energy has a fifty-two week low of $46.79 and a fifty-two week high of $70.72.

Xcel Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Saturday, April 20th. Shareholders of record on Friday, March 15th were paid a dividend of $0.548 per share. This represents a $2.19 annualized dividend and a yield of 4.06%. The ex-dividend date of this dividend was Thursday, March 14th. This is an increase from Xcel Energy’s previous quarterly dividend of $0.52. Xcel Energy’s payout ratio is presently 68.22%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on XEL shares. 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. StockNews.com downgraded Xcel Energy from a “hold” rating to a “sell” rating in a report on Friday. JPMorgan Chase & Co. cut their price target on Xcel Energy from $68.00 to $59.00 and set a “neutral” rating on the stock in a report on Wednesday, March 13th. Wolfe Research upgraded Xcel Energy from a “peer perform” rating to an “outperform” rating and set a $58.00 price target on the stock in a report on Monday, March 11th. Finally, Barclays upgraded Xcel Energy from an “equal weight” rating to an “overweight” rating and cut their price target for the company from $61.00 to $54.00 in a report on Monday, March 11th. 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 company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $62.58.

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.