Xcel Energy (NASDAQ:XEL) Announces Earnings Results, Beats Expectations By $0.13 EPS

Key Points

• Xcel Energy beat earnings expectations: The utility reported quarterly EPS of $1.52, exceeding the $1.39 consensus by $0.13. Revenue rose 6.6% year over year to $4.17 billion but fell short of the $4.26 billion estimate.
• Shares gained following the results: XEL traded around $79.12, up $1.95, with a market capitalization of approximately $49.42 billion.
• Analysts remain broadly positive: Xcel has an overall “Buy” rating and a consensus price target of $90.21, although several firms recently reduced their targets.

Xcel Energy (NASDAQ:XEL - Get Free Report) released its earnings results on Wednesday. The company reported $1.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.13, FiscalAI reports. The firm had revenue of $4.17 billion during the quarter, compared to analyst estimates of $4.26 billion. Xcel Energy had a net margin of 15.28% and a return on equity of 10.65%. The business's revenue was up 6.6% on a year-over-year basis. During the same quarter last year, the business earned $1.24 EPS.

Xcel Energy Price Performance

XEL stock traded up $1.95 during midday trading on Thursday, reaching $79.12. The stock had a trading volume of 2,981,399 shares, compared to its average volume of 5,243,406. Xcel Energy has a 52-week low of $68.72 and a 52-week high of $84.23. The company has a market cap of $49.42 billion, a price-to-earnings ratio of 21.66, a price-to-earnings-growth ratio of 2.59 and a beta of 0.36. The company's fifty day simple moving average is $74.67 and its 200 day simple moving average is $78.13. The company has a current ratio of 0.70, a quick ratio of 0.62 and a debt-to-equity ratio of 1.49.

Analyst Ratings Changes

A number of research analysts have recently commented on XEL shares. The Goldman Sachs Group cut their target price on Xcel Energy from $95.00 to $93.00 in a research note on Thursday, October 15th. Royal Bank Of Canada set a $86.00 price objective on shares of Xcel Energy in a research note on Tuesday, October 20th. JPMorgan Chase & Co. decreased their target price on shares of Xcel Energy from $97.00 to $92.00 and set an "overweight" rating for the company in a research report on Tuesday, October 13th. Scotiabank initiated coverage on Xcel Energy in a research report on Tuesday, September 29th. They issued a "sector outperform" rating and a $77.00 price objective for the company. Finally, HSBC assumed coverage on shares of Xcel Energy in a research report on Thursday, October 22nd. They issued a "buy" rating and a $89.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $90.21.

Xcel Energy Company Profile

Xcel Energy Inc is a public utility holding company that provides electricity and natural gas services to residential, commercial, and industrial customers. Its operations include the generation, transmission, distribution, and sale of electricity, as well as the distribution and sale of natural gas.

The company serves customers across Colorado, Michigan, Minnesota, New Mexico, North Dakota, South Dakota, Texas, and Wisconsin through operating companies including Northern States Power, Public Service Company of Colorado, Southwestern Public Service Company, and NSP-Wisconsin.

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