Xcel Energy (NYSE:XEL) Issues FY20 Earnings Guidance

Xcel Energy (NYSE:XEL) updated its FY20 earnings guidance on Thursday. The company provided EPS guidance of $2.73-2.83 for the period, compared to the Thomson Reuters consensus EPS estimate of $2.76. Xcel Energy also updated its FY 2020
Pre-Market guidance to 2.73-2.83 EPS.

Shares of NYSE:XEL opened at $69.04 on Friday. Xcel Energy has a 12-month low of $46.58 and a 12-month high of $72.14. The company’s 50 day moving average price is $64.87 and its two-hundred day moving average price is $64.40.

Xcel Energy (NYSE:XEL) last issued its quarterly earnings results on Thursday, July 30th. The utilities provider reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.08. The company had revenue of $2.59 billion during the quarter, compared to the consensus estimate of $2.76 billion.

The business also recently announced a quarterly dividend, which was paid on Monday, July 20th. Stockholders of record on Monday, June 15th were issued a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 2.49%. The ex-dividend date of this dividend was Friday, June 12th.

A number of research firms recently commented on XEL. KeyCorp boosted their price target on Xcel Energy from $66.00 to $74.00 and gave the company an overweight rating in a research note on Tuesday, July 21st. Mizuho upped their price target on shares of Xcel Energy from $53.00 to $63.00 and gave the stock a neutral rating in a report on Wednesday, April 15th. Royal Bank of Canada reiterated a hold rating and set a $62.00 price target on shares of Xcel Energy in a research report on Wednesday, April 8th. Wells Fargo & Co cut Xcel Energy from an overweight rating to an equal weight rating and set a $70.00 target price for the company. in a research note on Friday, April 24th. They noted that the move was a valuation call. Finally, Morgan Stanley raised their target price on Xcel Energy from $56.00 to $59.00 and gave the company an underweight rating in a report on Friday, July 17th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the company. The stock presently has an average rating of Hold and a consensus target price of $64.36.

In related news, CEO Benjamin G. S. Fowke III sold 104,796 shares of the firm’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $65.84, for a total transaction of $6,899,768.64. Following the sale, the chief executive officer now owns 461,531 shares of the company’s stock, valued at approximately $30,387,201.04. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.22% of the stock is currently owned by corporate insiders.

Xcel Energy Company Profile

Xcel Energy Inc is a public utility holding company. The Company’s operations include the activity of four utility subsidiaries that serve electric and natural gas customers in eight states. The Company’s segments include regulated electric utility, regulated natural gas utility and all other. The Company’s utility subsidiaries include NSP-Minnesota, NSP-Wisconsin, Public Service Company of Colorado (PSCo) and Southwestern Public Service Co (SPS), which serve customers in portions of Colorado, Michigan, Minnesota, New Mexico, North Dakota, South Dakota, Texas and Wisconsin.

See Also: Basic Economics

Earnings History and Estimates for Xcel Energy (NYSE:XEL)

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