Xcel Energy (NASDAQ:XEL) Announces Quarterly Earnings Results

Xcel Energy (NASDAQ:XELGet Free Report) released its quarterly earnings data on Wednesday. The company reported $0.91 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.91, FiscalAI reports. The firm had revenue of $4.02 billion during the quarter, compared to analysts’ expectations of $4.21 billion. Xcel Energy had a return on equity of 10.46% and a net margin of 13.76%.Xcel Energy’s revenue was up 2.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.84 earnings per share.

Xcel Energy Price Performance

Shares of NASDAQ:XEL traded down $0.37 on Friday, hitting $82.58. The company had a trading volume of 5,345,860 shares, compared to its average volume of 4,865,285. The company has a current ratio of 0.71, a quick ratio of 0.60 and a debt-to-equity ratio of 1.35. Xcel Energy has a 52-week low of $65.21 and a 52-week high of $84.23. The business has a 50 day moving average of $80.70 and a 200 day moving average of $78.73. The company has a market cap of $51.54 billion, a PE ratio of 24.15, a PEG ratio of 2.05 and a beta of 0.43.

Xcel Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 20th. Stockholders of record on Friday, March 13th were given a $0.5925 dividend. This is an increase from Xcel Energy’s previous quarterly dividend of $0.57. This represents a $2.37 annualized dividend and a dividend yield of 2.9%. The ex-dividend date was Friday, March 13th. Xcel Energy’s dividend payout ratio (DPR) is currently 69.30%.

Institutional Trading of Xcel Energy

Several institutional investors and hedge funds have recently made changes to their positions in XEL. Garton & Associates Financial Advisors LLC purchased a new stake in shares of Xcel Energy in the fourth quarter valued at $30,000. Advocate Investing Services LLC purchased a new stake in shares of Xcel Energy in the fourth quarter valued at $38,000. Ankerstar Wealth LLC purchased a new stake in shares of Xcel Energy in the fourth quarter valued at $40,000. Measured Wealth Private Client Group LLC purchased a new stake in shares of Xcel Energy in the third quarter valued at $42,000. Finally, Gilpin Wealth Management LLC purchased a new stake in shares of Xcel Energy in the fourth quarter valued at $43,000. 78.38% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have weighed in on XEL shares. Barclays upped their target price on Xcel Energy from $82.00 to $91.00 and gave the company an “overweight” rating in a report on Monday, April 20th. Weiss Ratings raised Xcel Energy from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, March 20th. Truist Financial started coverage on Xcel Energy in a report on Monday, April 20th. They issued a “buy” rating and a $95.00 target price on the stock. UBS Group upped their target price on Xcel Energy from $89.00 to $91.00 and gave the company a “buy” rating in a report on Monday, April 20th. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $95.00 target price on shares of Xcel Energy in a report on Friday, January 23rd. Four research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $90.88.

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About Xcel Energy

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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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Earnings History for Xcel Energy (NASDAQ:XEL)

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