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

Xcel Energy (NASDAQ:XEL) updated its FY 2024 earnings guidance on Thursday. 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 Analyst Weigh In

Several equities analysts have weighed in on the company. Evercore ISI raised their price objective on Xcel Energy from $54.00 to $59.00 and gave the company an outperform rating in a research note on Friday. JPMorgan Chase & Co. dropped their price objective on Xcel Energy from $68.00 to $59.00 and set a neutral rating on the stock in a research note on Wednesday, March 13th. 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 research note on Monday, March 11th. Wells Fargo & Company lifted their target price on Xcel Energy from $63.00 to $64.00 and gave the stock an equal weight rating in a research note on Friday, January 26th. Finally, Royal Bank of Canada lifted their target price on Xcel Energy from $67.00 to $68.00 and gave the stock 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 company’s stock. Based on data from MarketBeat, Xcel Energy currently has a consensus rating of Hold and a consensus price target of $62.58.

Xcel Energy Stock Performance

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

Xcel Energy (NASDAQ:XEL) last announced its quarterly earnings data on Thursday, April 25th. The company reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.08. Xcel Energy had a return on equity of 10.78% and a net margin of 12.47%. The company had revenue of $3.65 billion during the quarter, compared to analyst estimates of $4.12 billion. During the same quarter last year, the firm posted $0.76 EPS. The firm’s revenue for the quarter was down 10.6% on a year-over-year basis. Equities analysts anticipate that Xcel Energy will post 3.56 earnings per share for the current year.

Xcel Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Saturday, April 20th. Stockholders of record on Friday, March 15th were given 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 dividend payout ratio is currently 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.