KeyCorp Issues Pessimistic Estimate for Xcel Energy Earnings

Xcel Energy Inc. (NASDAQ:XEL - Free Report) - KeyCorp lowered their FY2024 earnings estimates for shares of Xcel Energy in a report issued on Tuesday, December 3rd. KeyCorp analyst S. Karp now anticipates that the company will earn $3.52 per share for the year, down from their prior forecast of $3.55. KeyCorp has a "Overweight" rating and a $79.00 price objective on the stock. The consensus estimate for Xcel Energy's current full-year earnings is $3.54 per share. KeyCorp also issued estimates for Xcel Energy's FY2026 earnings at $4.13 EPS, FY2027 earnings at $4.43 EPS and FY2028 earnings at $4.82 EPS.

Several other equities analysts have also weighed in on XEL. Wells Fargo & Company increased their price objective on shares of Xcel Energy from $63.00 to $66.00 and gave the company an "equal weight" rating in a research report on Wednesday, October 16th. Barclays increased their price target on shares of Xcel Energy from $67.00 to $71.00 and gave the company an "overweight" rating in a report on Tuesday, November 26th. Jefferies Financial Group upgraded Xcel Energy from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $71.00 to $76.00 in a report on Friday, November 1st. Morgan Stanley lowered their target price on Xcel Energy from $74.00 to $72.00 and set an "equal weight" rating on the stock in a research note on Friday, November 22nd. Finally, UBS Group boosted their price target on Xcel Energy from $66.00 to $67.00 and gave the company a "neutral" rating in a research note on Friday, September 20th. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $67.00.

Xcel Energy Trading Down 1.6 %

Shares of NASDAQ:XEL traded down $1.12 during trading on Friday, hitting $69.74. 3,431,754 shares of the company's stock were exchanged, compared to its average volume of 3,060,143. The company has a current ratio of 0.93, a quick ratio of 0.82 and a debt-to-equity ratio of 1.42. The firm has a 50-day moving average price of $66.78 and a two-hundred day moving average price of $60.76. Xcel Energy has a 1-year low of $46.79 and a 1-year high of $73.38. The firm has a market cap of $40.05 billion, a P/E ratio of 20.69, a PEG ratio of 2.89 and a beta of 0.41.

Xcel Energy (NASDAQ:XEL - Get Free Report) last posted its quarterly earnings results on Thursday, October 31st. The company reported $1.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.26 by ($0.01). The firm had revenue of $3.64 billion during the quarter, compared to the consensus estimate of $3.93 billion. Xcel Energy had a net margin of 13.67% and a return on equity of 10.76%. Xcel Energy's revenue was down .5% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.23 EPS.

Institutional Trading of Xcel Energy

Institutional investors and hedge funds have recently made changes to their positions in the company. Ashton Thomas Securities LLC acquired a new stake in Xcel Energy in the third quarter valued at about $25,000. Transcendent Capital Group LLC bought a new stake in shares of Xcel Energy during the 3rd quarter valued at approximately $33,000. TruNorth Capital Management LLC acquired a new position in Xcel Energy during the 2nd quarter worth approximately $30,000. American National Bank bought a new position in Xcel Energy in the 2nd quarter valued at approximately $32,000. Finally, Kimelman & Baird LLC acquired a new stake in Xcel Energy in the second quarter valued at approximately $35,000. Institutional investors own 78.38% of the company's stock.

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.