Xcel Energy Inc. Declares Quarterly Dividend of $0.59 (NASDAQ:XEL)

Key Points

• Xcel Energy declared a quarterly dividend of $0.5925 per share, payable October 20 to shareholders of record on September 15. The dividend implies an annualized yield of approximately 3.0%, and the company has raised payments for 22 consecutive years.
• Xcel reported quarterly EPS of $0.93, exceeding analysts’ $0.79 estimate, though revenue of $3.12 billion fell short of the $3.54 billion consensus forecast.
• Analysts remain broadly positive, with a consensus “Buy” rating and an average price target of $92.65, despite Xcel shares opening down 2.0% at $78.75.

Xcel Energy Inc. (NASDAQ:XEL - Get Free Report) declared a quarterly dividend on Wednesday, July 29th. Shareholders of record on Tuesday, September 15th will be given a dividend of 0.5925 per share on Tuesday, October 20th. This represents a c) dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend is Tuesday, September 15th.

Xcel Energy has increased its dividend payment by an average of 0.1%annually over the last three years and has raised its dividend annually for the last 22 consecutive years. Xcel Energy has a dividend payout ratio of 57.4% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Xcel Energy to earn $4.50 per share next year, which means the company should continue to be able to cover its $2.37 annual dividend with an expected future payout ratio of 52.7%.

Xcel Energy Stock Down 2.0%

XEL stock opened at $78.75 on Thursday. The firm has a market capitalization of $49.16 billion, a PE ratio of 22.69, a P/E/G ratio of 2.09 and a beta of 0.39. The company has a quick ratio of 0.68, a current ratio of 0.77 and a debt-to-equity ratio of 1.45. Xcel Energy has a twelve month low of $69.16 and a twelve month high of $84.23. The stock's 50 day moving average is $79.64 and its 200-day moving average is $79.42.

Xcel Energy (NASDAQ:XEL - Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The company reported $0.93 EPS for the quarter, beating analysts' consensus estimates of $0.79 by $0.14. The business had revenue of $3.12 billion during the quarter, compared to analyst estimates of $3.54 billion. Xcel Energy had a return on equity of 10.37% and a net margin of 14.14%. Sell-side analysts expect that Xcel Energy will post 4.11 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Wall Street Zen downgraded shares of Xcel Energy from a "hold" rating to a "sell" rating in a research report on Saturday, May 9th. Truist Financial boosted their price objective on Xcel Energy from $92.00 to $94.00 and gave the stock a "buy" rating in a research report on Thursday, July 16th. Mizuho reduced their price objective on Xcel Energy from $94.00 to $91.00 and set an "outperform" rating for the company in a research note on Tuesday, June 23rd. Evercore reissued an "outperform" rating and issued a $96.00 price target on shares of Xcel Energy in a report on Monday, May 4th. Finally, New Street Research set a $91.00 price objective on shares of Xcel Energy in a report on Tuesday, June 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, Xcel Energy has an average rating of "Buy" and a consensus price target of $92.65.

About Xcel Energy

Xcel Energy NASDAQ: XEL is a Minneapolis-based, publicly traded utility holding company that develops, owns and operates regulated electricity and natural gas delivery systems. The company's core activities include generation, transmission and distribution of electricity, the delivery of natural gas to customers, and related customer service operations. Xcel provides a mix of utility services to residential, commercial and industrial customers and participates in wholesale energy markets where appropriate.

Its generation portfolio combines nuclear, natural gas, coal and a growing share of renewable resources such as wind and solar.

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