KeyCorp Has Pessimistic Outlook of Xcel Energy Q3 Earnings

Xcel Energy Inc. (NASDAQ:XEL) – Stock analysts at KeyCorp decreased their Q3 2024 earnings per share (EPS) estimates for shares of Xcel Energy in a report released on Monday, October 21st. KeyCorp analyst S. Karp now anticipates that the company will post earnings of $1.31 per share for the quarter, down from their previous estimate of $1.36. KeyCorp currently has a “Overweight” rating and a $69.00 target price on the stock. The consensus estimate for Xcel Energy’s current full-year earnings is $3.55 per share. KeyCorp also issued estimates for Xcel Energy’s Q4 2024 earnings at $0.82 EPS, FY2026 earnings at $4.09 EPS, FY2027 earnings at $4.33 EPS and FY2028 earnings at $4.62 EPS.

A number of other equities research analysts also recently commented on XEL. Jefferies Financial Group began coverage on Xcel Energy in a report on Thursday, September 19th. They set a “hold” rating and a $70.00 target price for the company. UBS Group upped their price objective on shares of Xcel Energy from $66.00 to $67.00 and gave the company a “neutral” rating in a report on Friday, September 20th. Barclays raised their target price on shares of Xcel Energy from $57.00 to $67.00 and gave the stock an “overweight” rating in a report on Monday. Argus upgraded shares of Xcel Energy from a “hold” rating to a “buy” rating and set a $68.00 target price for the company in a research report on Monday, August 26th. Finally, Morgan Stanley increased their price target on Xcel Energy from $68.00 to $73.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 25th. Eight research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $65.54.

Xcel Energy Stock Performance

Shares of XEL opened at $65.11 on Thursday. Xcel Energy has a 12 month low of $46.79 and a 12 month high of $65.64. The stock has a fifty day moving average price of $62.91 and a 200-day moving average price of $57.74. The company has a current ratio of 0.97, a quick ratio of 0.86 and a debt-to-equity ratio of 1.54. The firm has a market cap of $36.30 billion, a PE ratio of 19.44, a P/E/G ratio of 2.80 and a beta of 0.39.

Xcel Energy (NASDAQ:XEL) last released its quarterly earnings data on Thursday, August 1st. The company reported $0.54 earnings per share for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.03). The business had revenue of $3.03 billion during the quarter, compared to analysts’ expectations of $3.29 billion. Xcel Energy had a return on equity of 10.94% and a net margin of 13.46%. The firm’s revenue was up .2% compared to the same quarter last year. During the same period last year, the company earned $0.52 earnings per share.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD grew its stake in shares of Xcel Energy by 770.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,552,625 shares of the company’s stock valued at $405,955,000 after buying an additional 6,684,499 shares during the period. Jupiter Asset Management Ltd. purchased a new stake in Xcel Energy during the first quarter valued at about $80,283,000. Federated Hermes Inc. increased its stake in Xcel Energy by 120.2% during the second quarter. Federated Hermes Inc. now owns 2,379,615 shares of the company’s stock worth $127,095,000 after acquiring an additional 1,299,025 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of Xcel Energy by 130.4% in the 2nd quarter. American Century Companies Inc. now owns 2,084,345 shares of the company’s stock worth $111,325,000 after purchasing an additional 1,179,823 shares during the period. Finally, Zimmer Partners LP lifted its stake in shares of Xcel Energy by 1,765.0% in the 1st quarter. Zimmer Partners LP now owns 932,505 shares of the company’s stock valued at $50,122,000 after purchasing an additional 882,505 shares in the last quarter. 78.38% of the stock is currently owned by institutional investors and hedge funds.

Xcel Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, October 20th. Shareholders of record on Friday, September 13th were paid a dividend of $0.548 per share. This is a boost from Xcel Energy’s previous quarterly dividend of $0.55. This represents a $2.19 annualized dividend and a dividend yield of 3.37%. The ex-dividend date of this dividend was Friday, September 13th. Xcel Energy’s dividend payout ratio (DPR) is currently 65.37%.

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.