Xcel Energy (NASDAQ:XEL) Issues Quarterly Earnings Results, Beats Estimates By $0.08 EPS

Xcel Energy (NASDAQ:XEL) announced its earnings results on Thursday. The company reported $0.88 EPS for the quarter, topping the consensus estimate of $0.80 by $0.08, Briefing.com reports. Xcel Energy had a net margin of 13.36% and a return on equity of 11.12%. The business had revenue of $3.65 billion during the quarter, compared to analysts’ expectations of $4.12 billion. During the same quarter in the prior year, the company posted $0.76 earnings per share. The firm’s revenue was down 10.6% on a year-over-year basis. Xcel Energy updated its FY24 guidance to $3.50-3.60 EPS and its FY 2024 guidance to 3.500-3.600 EPS.

Xcel Energy Price Performance

Shares of XEL opened at $53.96 on Friday. 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 company’s 50-day moving average is $53.77 and its 200-day moving average is $58.07. Xcel Energy has a fifty-two week low of $46.79 and a fifty-two week high of $70.72. The firm has a market capitalization of $29.97 billion, a PE ratio of 16.20, a PEG ratio of 2.37 and a beta of 0.36.

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 of this dividend 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 4.06%. Xcel Energy’s dividend payout ratio is presently 65.77%.

Analyst Upgrades and Downgrades

XEL has been the topic of several analyst reports. StockNews.com lowered shares of Xcel Energy from a “hold” rating to a “sell” rating in a research report on Friday. TheStreet lowered shares of Xcel Energy from a “b-” rating to a “c+” rating in a research report on Thursday, March 14th. JPMorgan Chase & Co. dropped their price target on shares of Xcel Energy from $68.00 to $59.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 13th. Wolfe Research raised 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 report on Monday, March 11th. Finally, KeyCorp dropped their price target on shares of Xcel Energy from $68.00 to $65.00 and set an “overweight” rating on the stock in a research report on Friday, April 19th. 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 stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $62.58.

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.