What is KeyCorp’s Forecast for Xcel Energy FY2024 Earnings?

Xcel Energy Inc. (NASDAQ:XEL) – KeyCorp dropped their FY2024 earnings estimates for Xcel Energy in a report released on Tuesday, December 3rd. KeyCorp analyst S. Karp now expects that the company will earn $3.52 per share for the year, down from their previous estimate of $3.55. KeyCorp currently has a “Overweight” rating and a $79.00 target price on the stock. The consensus estimate for Xcel Energy’s current full-year earnings is $3.54 per share. KeyCorp also issued estimates for Xcel Energy’s FY2026 earnings at $4.13 EPS, FY2027 earnings at $4.43 EPS and FY2028 earnings at $4.82 EPS.

Xcel Energy (NASDAQ:XEL) last released its earnings results on Thursday, October 31st. The company reported $1.25 EPS for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.01). The firm had revenue of $3.64 billion during the quarter, compared to analysts’ expectations of $3.93 billion. Xcel Energy had a net margin of 13.67% and a return on equity of 10.76%. The company’s revenue for the quarter was down .5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.23 EPS.

Other research analysts also recently issued reports about the company. UBS Group raised their target price on shares of Xcel Energy from $66.00 to $67.00 and gave the stock a “neutral” rating in a report on Friday, September 20th. Argus upgraded Xcel Energy from a “hold” rating to a “buy” rating and set a $68.00 price target on the stock in a research note on Monday, August 26th. Barclays upped their price objective on Xcel Energy from $67.00 to $71.00 and gave the company an “overweight” rating in a research report on Tuesday, November 26th. Jefferies Financial Group raised Xcel Energy from a “hold” rating to a “buy” rating and raised their target price for the stock from $71.00 to $76.00 in a research report on Friday, November 1st. Finally, Morgan Stanley reduced their price target on shares of Xcel Energy from $74.00 to $72.00 and set an “equal weight” rating for the company in a research report on Friday, November 22nd. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $67.00.

Xcel Energy Trading Down 1.6 %

NASDAQ XEL opened at $69.74 on Friday. The stock’s fifty day moving average price is $66.78 and its 200-day moving average price is $60.76. The company has a current ratio of 0.93, a quick ratio of 0.82 and a debt-to-equity ratio of 1.42. The stock has a market cap of $40.05 billion, a P/E ratio of 20.69, a P/E/G ratio of 2.90 and a beta of 0.41. Xcel Energy has a 12 month low of $46.79 and a 12 month high of $73.38.

Institutional Trading of Xcel Energy

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Mather Group LLC. grew its stake in shares of Xcel Energy by 17.5% in the 2nd quarter. Mather Group LLC. now owns 2,378 shares of the company’s stock worth $128,000 after buying an additional 355 shares in the last quarter. Kingswood Wealth Advisors LLC increased its stake in Xcel Energy by 6.0% during the second quarter. Kingswood Wealth Advisors LLC now owns 5,911 shares of the company’s stock worth $316,000 after acquiring an additional 336 shares during the last quarter. Park Avenue Securities LLC raised its position in Xcel Energy by 92.4% during the second quarter. Park Avenue Securities LLC now owns 15,374 shares of the company’s stock valued at $821,000 after purchasing an additional 7,385 shares during the period. CWM LLC lifted its stake in shares of Xcel Energy by 11.6% in the 2nd quarter. CWM LLC now owns 36,923 shares of the company’s stock valued at $1,972,000 after purchasing an additional 3,838 shares during the last quarter. Finally, Lantz Financial LLC boosted its holdings in shares of Xcel Energy by 57.3% in the 2nd quarter. Lantz Financial LLC now owns 6,254 shares of the company’s stock worth $334,000 after purchasing an additional 2,277 shares during the period. 78.38% of the stock is currently owned by institutional investors.

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.