Xcel Energy (XEL) to Release Earnings on Thursday

Xcel Energy (NASDAQ:XEL - Get Free Report) is set to post its quarterly earnings results before the market opens on Thursday, April 25th. Analysts expect Xcel Energy to post earnings of $0.83 per share for the quarter. Xcel Energy has set its FY24 guidance at $3.50-3.60 EPS.Individual that wish to register for the company's earnings conference call can do so using this link.

Xcel Energy (NASDAQ:XEL - Get Free Report) last posted its quarterly earnings results on Thursday, January 25th. The company reported $0.83 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.85 by ($0.02). The company had revenue of $3.44 billion during the quarter, compared to analyst estimates of $4.01 billion. Xcel Energy had a net margin of 12.47% and a return on equity of 10.78%. Xcel Energy's revenue for the quarter was down 15.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.69 EPS. On average, analysts expect Xcel Energy to post $4 EPS for the current fiscal year and $4 EPS for the next fiscal year.

Xcel Energy Stock Up 1.1 %

XEL stock traded up $0.57 during mid-day trading on Thursday, reaching $53.76. The company had a trading volume of 3,086,994 shares, compared to its average volume of 5,443,083. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.59 and a current ratio of 0.72. The company has a market capitalization of $29.86 billion, a price-to-earnings ratio of 16.66, a price-to-earnings-growth ratio of 2.45 and a beta of 0.36. The firm has a fifty day simple moving average of $54.32 and a 200 day simple moving average of $58.17. Xcel Energy has a fifty-two week low of $46.79 and a fifty-two week high of $71.32.

Xcel Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, April 20th. Shareholders of record on Friday, March 15th will be given a $0.548 dividend. The ex-dividend date is Thursday, March 14th. This represents a $2.19 dividend on an annualized basis and a yield of 4.08%. This is a positive change from Xcel Energy's previous quarterly dividend of $0.52. Xcel Energy's dividend payout ratio (DPR) is currently 68.22%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of XEL. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Xcel Energy in the first quarter valued at approximately $27,000. Quarry LP boosted its stake in shares of Xcel Energy by 114.5% in the first quarter. Quarry LP now owns 532 shares of the company's stock valued at $36,000 after buying an additional 284 shares in the last quarter. Itau Unibanco Holding S.A. purchased a new stake in shares of Xcel Energy in the second quarter valued at approximately $37,000. Lumature Wealth Partners LLC boosted its stake in shares of Xcel Energy by 50.4% in the first quarter. Lumature Wealth Partners LLC now owns 612 shares of the company's stock valued at $44,000 after buying an additional 205 shares in the last quarter. Finally, State of Wyoming boosted its stake in shares of Xcel Energy by 33.8% in the second quarter. State of Wyoming now owns 1,072 shares of the company's stock valued at $67,000 after buying an additional 271 shares in the last quarter. 78.38% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on XEL shares. StockNews.com raised Xcel Energy from a "sell" rating to a "hold" rating in a research report on Friday, April 12th. Royal Bank of Canada raised their target price on Xcel Energy from $67.00 to $68.00 and gave the stock a "sector perform" rating in a research report on Tuesday, January 30th. JPMorgan Chase & Co. cut their target price on Xcel Energy from $68.00 to $59.00 and set a "neutral" rating on the stock in a research report on Wednesday, March 13th. TheStreet lowered Xcel Energy from a "b-" rating to a "c+" rating in a research report on Thursday, March 14th. Finally, KeyCorp raised their target price on Xcel Energy from $62.00 to $68.00 and gave the stock an "overweight" rating in a research report on Thursday, January 4th. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $63.08.

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.