Xcel Energy (NYSE:XEL) Issues Earnings Results

Xcel Energy (NYSE:XEL) released its quarterly earnings data on Thursday. The utilities provider reported $0.54 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.46 by $0.08, MarketWatch Earnings reports. The company had revenue of $2.59 billion for the quarter, compared to analyst estimates of $2.76 billion. Xcel Energy updated its FY 2020
Pre-Market guidance to 2.73-2.83 EPS and its FY20 guidance to $2.73-2.83 EPS.

NYSE XEL traded up $0.04 during trading hours on Friday, hitting $69.04. 2,663,615 shares of the company were exchanged, compared to its average volume of 3,563,042. The company has a 50 day moving average of $64.87 and a two-hundred day moving average of $64.40. Xcel Energy has a 52-week low of $46.58 and a 52-week high of $72.14.

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

In other Xcel Energy news, CEO Benjamin G. S. Fowke III sold 104,796 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $30,387,201.04. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.22% of the stock is owned by corporate insiders.

A number of equities analysts have weighed in on XEL shares. Mizuho boosted their price objective on Xcel Energy from $53.00 to $63.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 15th. KeyCorp lifted their target price on Xcel Energy from $66.00 to $74.00 and gave the company an “overweight” rating in a research report on Tuesday, July 21st. Wells Fargo & Co downgraded Xcel Energy from an “overweight” rating to an “equal weight” rating and set a $70.00 target price on the stock. in a research report on Friday, April 24th. They noted that the move was a valuation call. Royal Bank of Canada restated a “hold” rating and issued a $62.00 target price on shares of Xcel Energy in a research report on Wednesday, April 8th. Finally, Morgan Stanley lifted their target price on Xcel Energy from $56.00 to $59.00 and gave the company an “underweight” rating in a research report on Friday, July 17th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the company’s stock. Xcel Energy currently has an average rating of “Hold” and an average price target of $64.36.

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.

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Earnings History for Xcel Energy (NYSE:XEL)

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