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

Xcel Energy (NASDAQ:XEL) issued an update on its FY 2024 earnings guidance on Thursday morning. 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.

Xcel Energy Stock Down 1.9 %

XEL traded down $1.05 during trading on Friday, reaching $53.96. 6,334,147 shares of the stock traded hands, compared to its average volume of 5,418,778. The stock has a market cap of $29.97 billion, a price-to-earnings ratio of 16.81, a price-to-earnings-growth ratio of 2.43 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. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.72 and a quick ratio of 0.59. The stock’s 50-day simple moving average is $53.77 and its two-hundred day simple moving average is $58.07.

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

Xcel Energy Increases Dividend

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

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Evercore ISI boosted their price target on Xcel Energy from $54.00 to $59.00 and gave the stock an outperform rating in a research report on Friday. Royal Bank of Canada boosted their price target on Xcel Energy from $67.00 to $68.00 and gave the stock a sector perform rating in a research report on Tuesday, January 30th. Wells Fargo & Company boosted their price target on Xcel Energy from $63.00 to $64.00 and gave the stock an equal weight rating in a research report on Friday, January 26th. TheStreet cut Xcel Energy from a b- rating to a c+ rating in a research report on Thursday, March 14th. Finally, StockNews.com lowered Xcel Energy from a hold rating to a sell rating in a research note on Friday. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Xcel Energy presently has a consensus rating of Hold and a consensus target price 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.