Xcel Energy (NASDAQ:XEL) Issues FY24 Earnings Guidance

Xcel Energy (NASDAQ:XEL) updated its FY24 earnings guidance on Thursday. 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 Trading Down 1.9 %

Shares of NASDAQ:XEL traded down $1.05 during trading on Friday, reaching $53.96. 6,334,147 shares of the stock were exchanged, compared to its average volume of 5,418,778. 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 has a 12-month low of $46.79 and a 12-month high of $70.72. The firm 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. The firm’s 50-day moving average price is $53.77 and its 200 day moving average price is $58.07.

Xcel Energy (NASDAQ:XEL) last released its quarterly earnings results on Thursday, April 25th. The company reported $0.88 earnings per share for the quarter, topping analysts’ consensus estimates of $0.80 by $0.08. The firm had revenue of $3.65 billion during the quarter, compared to analysts’ expectations of $4.12 billion. Xcel Energy had a return on equity of 10.78% and a net margin of 12.47%. Xcel Energy’s quarterly revenue was down 10.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.76 EPS. On average, sell-side analysts anticipate that Xcel Energy will post 3.56 earnings per share for the current fiscal year.

Xcel Energy Increases Dividend

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

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Barclays upgraded Xcel Energy from an equal weight rating to an overweight rating and lowered their price objective for the stock from $61.00 to $54.00 in a research note on Monday, March 11th. Royal Bank of Canada upped their price objective 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. Wells Fargo & Company increased their price target 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. TheStreet cut Xcel Energy from a b- rating to a c+ rating in a research note on Thursday, March 14th. Finally, StockNews.com cut Xcel Energy from a hold rating to a sell rating in a research note on Friday. One research analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, Xcel Energy currently has an average rating of Hold and an average 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.