Xcel Energy (NASDAQ:XEL) Issues FY24 Earnings Guidance

Xcel Energy (NASDAQ:XEL - Get Free Report) 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 Price Performance

Shares of XEL traded down $0.76 during trading hours on Thursday, hitting $63.25. 3,361,239 shares of the company were exchanged, compared to its average volume of 4,150,600. The company has a market cap of $35.14 billion, a price-to-earnings ratio of 18.99, a P/E/G ratio of 2.75 and a beta of 0.39. Xcel Energy has a fifty-two week low of $46.79 and a fifty-two week high of $65.64. The company has a quick ratio of 0.86, a current ratio of 0.97 and a debt-to-equity ratio of 1.54. The firm's fifty day moving average is $62.39 and its 200 day moving average is $57.39.

Xcel Energy (NASDAQ:XEL - Get Free Report) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.54 earnings per share for the quarter, missing the consensus estimate of $0.57 by ($0.03). Xcel Energy had a return on equity of 10.94% and a net margin of 13.46%. The business had revenue of $3.03 billion for the quarter, compared to the consensus estimate of $3.29 billion. During the same quarter in the prior year, the company earned $0.52 earnings per share. Xcel Energy's quarterly revenue was up .2% compared to the same quarter last year. On average, equities analysts anticipate that Xcel Energy will post 3.55 earnings per share for the current fiscal year.

Xcel Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, October 20th. Investors of record on Friday, September 13th will be given a dividend of $0.548 per share. This is an increase from Xcel Energy's previous quarterly dividend of $0.55. This represents a $2.19 annualized dividend and a dividend yield of 3.47%. The ex-dividend date is Friday, September 13th. Xcel Energy's dividend payout ratio is currently 65.77%.

Analyst Ratings Changes

XEL has been the subject of several recent analyst reports. Wells Fargo & Company upped their price objective on Xcel Energy from $63.00 to $66.00 and gave the stock an "equal weight" rating in a research report on Wednesday. UBS Group increased their target price on Xcel Energy from $66.00 to $67.00 and gave the company a "neutral" rating in a research report on Friday, September 20th. Argus upgraded Xcel Energy from a "hold" rating to a "buy" rating and set a $68.00 target price for the company in a research report on Monday, August 26th. Morgan Stanley increased their target price on Xcel Energy from $68.00 to $73.00 and gave the company an "equal weight" rating in a research report on Wednesday, September 25th. Finally, KeyCorp increased their target price on Xcel Energy from $66.00 to $69.00 and gave the company an "overweight" rating in a research report on Monday, September 30th. Eight analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Xcel Energy currently has an average rating of "Hold" and an average price target of $64.57.

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.