KeyCorp Equities Analysts Cut Earnings Estimates for Xcel Energy Inc. (NASDAQ:XEL)

Posted by Defense World Staff on Oct 20th, 2023

Xcel Energy Inc. (NASDAQ:XEL – Free Report) – Stock analysts at KeyCorp reduced their Q3 2023 EPS estimates for shares of Xcel Energy in a research note issued to investors on Tuesday, October 17th. KeyCorp analyst S. Karp now forecasts that the company will post earnings of $1.27 per share for the quarter, down from their previous forecast of $1.28. KeyCorp has a “Overweight” rating and a $62.00 price objective on the stock. The consensus estimate for Xcel Energy’s current full-year earnings is $3.35 per share. KeyCorp also issued estimates for Xcel Energy’s FY2025 earnings at $3.72 EPS.

A number of other research firms have also recently commented on XEL. Bank of America raised shares of Xcel Energy from a “neutral” rating to a “buy” rating and upped their target price for the company from $58.00 to $66.00 in a research report on Friday, October 6th. BMO Capital Markets decreased their price objective on shares of Xcel Energy from $66.00 to $62.00 and set a “market perform” rating on the stock in a report on Wednesday, September 20th. Barclays dropped their target price on shares of Xcel Energy from $60.00 to $57.00 and set an “equal weight” rating for the company in a report on Monday, October 9th. Royal Bank of Canada decreased their price target on Xcel Energy from $76.00 to $67.00 and set a “sector perform” rating on the stock in a research note on Wednesday, September 6th. Finally, Morgan Stanley raised their price target on Xcel Energy from $59.00 to $61.00 and gave the stock an “equal weight” rating in a research report on Thursday, September 21st. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $66.21.

Check Out Our Latest Report on Xcel Energy

Xcel Energy Stock Down 0.5 %

XEL stock opened at $59.05 on Thursday. Xcel Energy has a one year low of $53.73 and a one year high of $72.99. The firm has a market cap of $32.57 billion, a PE ratio of 18.75, a PEG ratio of 2.74 and a beta of 0.41. The firm’s 50 day moving average price is $57.86 and its 200-day moving average price is $62.86. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.68 and a current ratio of 0.80.

Xcel Energy (NASDAQ:XEL – Get Free Report) last issued its earnings results on Thursday, July 27th. The company reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.05). The company had revenue of $3.02 billion during the quarter, compared to analyst estimates of $3.38 billion. Xcel Energy had a return on equity of 10.39% and a net margin of 11.38%. The firm’s revenue was down 11.7% compared to the same quarter last year. During the same period last year, the business earned $0.60 earnings per share.

Hedge Funds Weigh In On Xcel Energy

Several hedge funds have recently made changes to their positions in the company. McCarthy Grittinger Financial Group LLC purchased a new position in shares of Xcel Energy during the third quarter worth approximately $26,000. Strategic Investment Solutions Inc. IL purchased a new position in Xcel Energy during the 1st quarter worth $27,000. Country Trust Bank increased its stake in Xcel Energy by 106.6% in the third quarter. Country Trust Bank now owns 535 shares of the company’s stock valued at $31,000 after purchasing an additional 276 shares during the period. ZRC Wealth Management LLC purchased a new stake in shares of Xcel Energy in the first quarter valued at about $33,000. Finally, Quarry LP boosted its stake in shares of Xcel Energy by 114.5% during the first quarter. Quarry LP now owns 532 shares of the company’s stock worth $36,000 after buying an additional 284 shares during the period. Hedge funds and other institutional investors own 77.83% of the company’s stock.

Xcel Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 20th. Investors of record on Friday, September 15th will be given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.52%. The ex-dividend date is Thursday, September 14th. Xcel Energy’s dividend payout ratio (DPR) is 66.03%.

Xcel Energy Company Profile

(Get Free Report)

Xcel Energy Inc, through its subsidiaries, generates, purchases, transmits, distributes, and sells electricity. It operates through Regulated Electric Utility, Regulated Natural Gas Utility, and All Other segments. The company generates electricity through coal, nuclear, natural gas, hydroelectric, solar, biomass, oil, wood/refuse, and wind energy sources.