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.

Wall Street Analyst Weigh In

XEL has been the topic of several recent analyst reports. Wells Fargo & Company increased their price objective on shares of Xcel Energy from $63.00 to $64.00 and gave the stock an equal weight rating in a report on Friday, January 26th. TheStreet lowered shares of Xcel Energy from a b- rating to a c+ rating in a report on Thursday, March 14th. Evercore ISI boosted their price objective on shares of Xcel Energy from $54.00 to $59.00 and gave the company an outperform rating in a research note on Friday. StockNews.com lowered Xcel Energy from a hold rating to a sell rating in a research report on Friday. Finally, Wolfe Research upgraded 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 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 data from MarketBeat, the stock presently has an average rating of Hold and an average target price of $62.58.

Xcel Energy Stock Down 1.9 %

NASDAQ:XEL traded down $1.05 during mid-day trading on Friday, hitting $53.96. The company had a trading volume of 6,334,147 shares, compared to its average volume of 5,418,778. The business has a fifty day simple moving average of $53.77 and a 200-day simple moving average of $58.07. The firm has a market capitalization of $29.97 billion, a price-to-earnings ratio of 16.81, a PEG ratio of 2.43 and a beta of 0.36. Xcel Energy has a 1 year low of $46.79 and a 1 year high of $70.72. The company has a current ratio of 0.72, a quick ratio of 0.59 and a debt-to-equity ratio of 1.41.

Xcel Energy (NASDAQ:XEL) last announced its earnings results on Thursday, April 25th. The company reported $0.88 EPS for the quarter, beating the consensus estimate of $0.80 by $0.08. The business had revenue of $3.65 billion for the quarter, compared to the consensus estimate of $4.12 billion. Xcel Energy had a return on equity of 10.78% and a net margin of 12.47%. The company’s revenue was down 10.6% on a year-over-year basis. During the same period last year, the business posted $0.76 EPS. Equities 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 announced a quarterly dividend, which was paid on Saturday, April 20th. Stockholders of record on Friday, March 15th were paid a $0.548 dividend. 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. This represents a $2.19 annualized dividend and a dividend yield of 4.06%. Xcel Energy’s dividend payout ratio is 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.