Xcel Energy (XEL) Scheduled to Post Quarterly Earnings on Thursday

Xcel Energy (NASDAQ:XEL) is scheduled to be announcing its earnings results before the market opens on Thursday, April 25th. Analysts expect the company to announce earnings of $0.83 per share for the quarter. Xcel Energy has set its FY24 guidance at $3.50-3.60 EPS.Parties interested in participating in the company’s conference call can do so using this link.

Xcel Energy (NASDAQ:XEL) last announced its quarterly earnings data 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 for 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%. The company’s revenue was down 15.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.69 earnings per share. 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 Trading Up 1.3 %

Shares of NASDAQ:XEL opened at $53.19 on Thursday. The stock has a 50 day moving average of $54.32 and a 200 day moving average of $58.17. The company has a market cap of $29.55 billion, a PE ratio of 16.57, a price-to-earnings-growth ratio of 2.48 and a beta of 0.36. The company has a current ratio of 0.72, a quick ratio of 0.59 and a debt-to-equity ratio of 1.41. Xcel Energy has a 12-month low of $46.79 and a 12-month high of $71.32.

Xcel Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, April 20th. Investors of record on Friday, March 15th will be paid a dividend of $0.548 per share. The ex-dividend date is Thursday, March 14th. This is an increase from Xcel Energy’s previous quarterly dividend of $0.52. This represents a $2.19 dividend on an annualized basis and a dividend yield of 4.12%. Xcel Energy’s payout ratio is 68.22%.

Institutional Trading of Xcel Energy

Several hedge funds have recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of Xcel Energy by 12.4% during the 4th quarter. Vanguard Group Inc. now owns 71,989,831 shares of the company’s stock worth $4,456,890,000 after acquiring an additional 7,926,975 shares in the last quarter. Geode Capital Management LLC raised its holdings in Xcel Energy by 1.3% during the 1st quarter. Geode Capital Management LLC now owns 12,251,587 shares of the company’s stock valued at $825,364,000 after buying an additional 162,592 shares during the period. Royal Bank of Canada raised its holdings in Xcel Energy by 1.8% during the 4th quarter. Royal Bank of Canada now owns 8,554,585 shares of the company’s stock valued at $529,615,000 after buying an additional 152,951 shares during the period. T. Rowe Price Investment Management Inc. purchased a new stake in Xcel Energy during the 4th quarter valued at $576,873,000. Finally, Wells Fargo & Company MN raised its holdings in Xcel Energy by 0.4% during the 2nd quarter. Wells Fargo & Company MN now owns 7,165,871 shares of the company’s stock valued at $445,502,000 after buying an additional 26,114 shares during the period. 78.38% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

XEL has been the subject of a number of recent research reports. Wells Fargo & Company boosted their price objective on Xcel Energy from $63.00 to $64.00 and gave the company an “equal weight” rating in a research note on Friday, January 26th. TheStreet downgraded Xcel Energy from a “b-” rating to a “c+” rating in a research note on Thursday, March 14th. Barclays raised Xcel Energy from an “equal weight” rating to an “overweight” rating and lowered their price target for the stock from $61.00 to $54.00 in a report on Monday, March 11th. JPMorgan Chase & Co. lowered their price target on Xcel Energy from $68.00 to $59.00 and set a “neutral” rating on the stock in a report on Wednesday, March 13th. Finally, Wolfe Research raised Xcel Energy from a “peer perform” rating to an “outperform” rating and set a $58.00 price target on the stock in a report on Monday, March 11th. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $63.08.

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.