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 earnings per share (EPS) guidance of $3.50-3.60 for the period, compared to the consensus estimate of $3.57. Xcel Energy also updated its FY 2024 guidance to 3.500-3.600 EPS.

Xcel Energy Stock Performance

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. 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 PE ratio of 16.81, a PEG ratio of 2.43 and a beta of 0.36. The stock has a 50-day moving average price of $53.77 and a 200-day moving average price of $58.07. 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 issued its quarterly earnings data on Thursday, April 25th. The company reported $0.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.80 by $0.08. The company 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%. The business’s revenue was down 10.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.76 earnings per share. Research analysts expect that Xcel Energy will post 3.56 EPS for the current fiscal year.

Xcel Energy Increases Dividend

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

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on XEL shares. StockNews.com downgraded shares of Xcel Energy from a hold rating to a sell rating in a report on Friday. Barclays upgraded shares of Xcel Energy from an equal weight rating to an overweight rating and lowered their price target for the stock from $61.00 to $54.00 in a report on Monday, March 11th. Wolfe Research upgraded shares of Xcel Energy from a peer perform rating to an outperform rating and set a $58.00 price target for the company in a report on Monday, March 11th. Royal Bank of Canada upped their price target 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. Finally, Wells Fargo & Company upped their price target 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. One research analyst has rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock presently 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.