Xcel Energy (NASDAQ:XEL) Updates FY 2024 Earnings Guidance

Xcel Energy (NASDAQ:XEL - Get Free Report) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided EPS guidance of 3.500-3.600 for the period, compared to the consensus EPS estimate of 3.570. The company issued revenue guidance of -. Xcel Energy also updated its FY24 guidance to $3.50-3.60 EPS.

Xcel Energy Stock Performance

NASDAQ XEL traded down $0.32 on Thursday, hitting $55.01. 6,716,617 shares of the stock were exchanged, compared to its average volume of 5,405,854. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.72 and a quick ratio of 0.59. The business's fifty day moving average is $53.88 and its 200 day moving average is $58.10. Xcel Energy has a 52 week low of $46.79 and a 52 week high of $70.97. The company has a market capitalization of $30.56 billion, a PE ratio of 17.14, a P/E/G ratio of 2.42 and a beta of 0.36.

Xcel Energy (NASDAQ:XEL - Get Free Report) last issued its quarterly earnings data on Thursday, January 25th. The company reported $0.83 earnings per share for the quarter, missing the consensus estimate of $0.85 by ($0.02). The company had revenue of $3.44 billion during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the previous year, the company earned $0.69 earnings per share. Research analysts anticipate that Xcel Energy will post 3.56 EPS for the current fiscal year.

Xcel Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Saturday, April 20th. Stockholders of record on Friday, March 15th were given a $0.548 dividend. The ex-dividend date was Thursday, March 14th. This is a positive change from Xcel Energy's previous quarterly dividend of $0.52. This represents a $2.19 annualized dividend and a dividend yield of 3.98%. Xcel Energy's dividend payout ratio is presently 68.22%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on XEL shares. StockNews.com lowered shares of Xcel Energy from a hold rating to a sell rating in a research report on Saturday, April 20th. Wolfe Research upgraded shares of Xcel Energy from a peer perform rating to an outperform rating and set a $58.00 price target on the stock in a research note on Monday, March 11th. TheStreet downgraded shares of Xcel Energy from a b- rating to a c+ rating in a research note on Thursday, March 14th. Royal Bank of Canada upped their price target on shares of Xcel Energy from $67.00 to $68.00 and gave the company a sector perform rating in a research note on Tuesday, January 30th. Finally, Barclays upgraded shares of Xcel Energy from an equal weight rating to an overweight rating and decreased their price target for the company from $61.00 to $54.00 in a research note on Monday, March 11th. One research analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of Hold and a consensus price target of $62.83.

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.