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

Xcel Energy Inc. (NASDAQ:XEL) – Research analysts at KeyCorp cut their FY2024 earnings per share estimates for Xcel Energy in a research note issued on Tuesday, December 3rd. KeyCorp analyst S. Karp now anticipates that the company will earn $3.52 per share for the year, down from their prior 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 quarterly earnings results on Thursday, October 31st. The company reported $1.25 earnings per share for the quarter, missing the consensus estimate of $1.26 by ($0.01). The firm had revenue of $3.64 billion for the quarter, compared to the consensus estimate of $3.93 billion. Xcel Energy had a net margin of 13.67% and a return on equity of 10.76%. Xcel Energy’s quarterly revenue was down .5% compared to the same quarter last year. During the same period in the previous year, the company earned $1.23 earnings per share.

XEL has been the subject of several other research reports. Barclays increased their target price on Xcel Energy from $67.00 to $71.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 26th. Wells Fargo & Company boosted their price objective on Xcel Energy from $63.00 to $66.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. Morgan Stanley dropped their price target on Xcel Energy from $74.00 to $72.00 and set an “equal weight” rating on the stock in a research report on Friday, November 22nd. Jefferies Financial Group upgraded Xcel Energy from a “hold” rating to a “buy” rating and lifted their price objective for the company from $71.00 to $76.00 in a report on Friday, November 1st. Finally, UBS Group increased 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. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $67.00.

Xcel Energy Stock Performance

Shares of XEL opened at $70.86 on Friday. The stock has a market cap of $40.69 billion, a price-to-earnings ratio of 21.03, a PEG ratio of 2.90 and a beta of 0.41. Xcel Energy has a 52 week low of $46.79 and a 52 week high of $73.38. The business has a 50-day simple moving average of $66.78 and a two-hundred day simple moving average of $60.76. The company has a quick ratio of 0.82, a current ratio of 0.93 and a debt-to-equity ratio of 1.42.

Hedge Funds Weigh In On Xcel Energy

Institutional investors and hedge funds have recently bought and sold shares of the company. Ashton Thomas Securities LLC acquired a new stake in Xcel Energy in the third quarter worth about $25,000. Transcendent Capital Group LLC purchased a new position in shares of Xcel Energy in the 3rd quarter valued at approximately $33,000. TruNorth Capital Management LLC purchased a new position in shares of Xcel Energy in the 2nd quarter valued at approximately $30,000. American National Bank acquired a new stake in Xcel Energy in the 2nd quarter worth approximately $32,000. Finally, Kimelman & Baird LLC purchased a new stake in Xcel Energy during the 2nd quarter worth approximately $35,000. 78.38% of the stock is owned by hedge funds and other institutional investors.

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.