Xcel Energy (NASDAQ:XEL) Issues 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 Price Performance

Shares of NASDAQ:XEL traded down $1.05 on Friday, reaching $53.96. The company’s stock had a trading volume of 6,334,147 shares, compared to its average volume of 5,418,778. Xcel Energy has a 52-week low of $46.79 and a 52-week high of $70.72. The company has a market cap of $29.97 billion, a P/E ratio of 16.81, a PEG ratio of 2.43 and a beta of 0.36. The company has a 50-day simple moving average of $53.77 and a 200 day simple moving average of $58.07. 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 quarterly earnings data on Thursday, April 25th. The company reported $0.88 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.08. Xcel Energy had a net margin of 12.47% and a return on equity of 10.78%. The business had revenue of $3.65 billion during the quarter, compared to analysts’ expectations of $4.12 billion. During the same period last year, the company posted $0.76 EPS. The business’s revenue was down 10.6% on a year-over-year basis. As a group, equities research analysts anticipate that Xcel Energy will post 3.56 EPS for the current fiscal year.

Xcel Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, April 20th. Shareholders of record on Friday, March 15th were paid 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 dividend yield of 4.06%. The ex-dividend date was Thursday, March 14th. Xcel Energy’s dividend payout ratio (DPR) is presently 68.22%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. lowered their target price on shares of Xcel Energy from $68.00 to $59.00 and set a neutral rating for the company in a report on Wednesday, March 13th. Royal Bank of Canada raised their target price on shares of Xcel Energy from $67.00 to $68.00 and gave the stock a sector perform rating in a report on Tuesday, January 30th. Barclays upgraded shares of Xcel Energy from an equal weight rating to an overweight rating and lowered their target price for the stock from $61.00 to $54.00 in a report on Monday, March 11th. Evercore ISI raised their target price on shares of Xcel Energy from $54.00 to $59.00 and gave the stock an outperform rating in a report on Friday. Finally, StockNews.com lowered shares of Xcel Energy from a hold rating to a sell rating in a report on Friday. 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. According to data from MarketBeat, the company currently has an average rating of Hold and a consensus target price of $62.58.

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.