Xcel Energy Inc (NYSE:XEL) Expected to Announce Earnings of $1.04 Per Share

Brokerages forecast that Xcel Energy Inc (NYSE:XEL) will report $1.04 earnings per share for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Xcel Energy’s earnings, with estimates ranging from $0.98 to $1.06. Xcel Energy posted earnings per share of $0.96 in the same quarter last year, which would suggest a positive year over year growth rate of 8.3%. The business is expected to report its next earnings report on Thursday, October 24th.

According to Zacks, analysts expect that Xcel Energy will report full-year earnings of $2.62 per share for the current year, with EPS estimates ranging from $2.60 to $2.65. For the next year, analysts expect that the company will report earnings of $2.79 per share, with EPS estimates ranging from $2.75 to $2.82. Zacks’ earnings per share averages are an average based on a survey of research firms that that provide coverage for Xcel Energy.

Xcel Energy (NYSE:XEL) last issued its quarterly earnings results on Thursday, August 1st. The utilities provider reported $0.46 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.53 by ($0.07). The firm had revenue of $2.58 billion during the quarter, compared to analyst estimates of $2.84 billion. During the same quarter last year, the firm earned $0.52 EPS. The business’s revenue was down 3.0% on a year-over-year basis.

A number of equities research analysts have recently weighed in on XEL shares. Zacks Investment Research lowered Xcel Energy from a “hold” rating to a “sell” rating and set a $64.00 price target on the stock. in a research note on Saturday, July 27th. Wolfe Research set a $57.00 price target on Xcel Energy and gave the stock a “hold” rating in a research note on Friday, April 26th. Barclays lowered Xcel Energy from an “overweight” rating to an “equal weight” rating and set a $64.00 price target on the stock. in a research note on Tuesday. They noted that the move was a valuation call. KeyCorp started coverage on Xcel Energy in a research note on Tuesday, June 4th. They set an “overweight” rating and a $62.00 price target on the stock. Finally, Argus boosted their price target on Xcel Energy to $64.00 and gave the stock a “buy” rating in a research note on Thursday, May 23rd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $59.71.

Shares of XEL stock traded up $0.75 during trading hours on Thursday, reaching $61.53. 2,389,672 shares of the company’s stock were exchanged, compared to its average volume of 3,229,924. Xcel Energy has a 1 year low of $46.01 and a 1 year high of $62.03. The firm has a fifty day moving average price of $60.61.

In other Xcel Energy news, EVP Kent T. Larson sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $58.43, for a total value of $292,150.00. Following the sale, the executive vice president now owns 100,354 shares in the company, valued at approximately $5,863,684.22. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Benjamin G. S. Fowke III sold 50,000 shares of the company’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $59.81, for a total value of $2,990,500.00. Following the completion of the sale, the chief executive officer now owns 608,862 shares in the company, valued at approximately $36,416,036.22. The disclosure for this sale can be found here. In the last quarter, insiders sold 69,400 shares of company stock worth $4,112,790. 0.22% of the stock is owned by insiders.

Several hedge funds have recently made changes to their positions in the company. LLBH Private Wealth Management LLC acquired a new position in Xcel Energy in the 2nd quarter valued at $25,000. Krane Funds Advisors LLC purchased a new stake in shares of Xcel Energy in the second quarter valued at approximately $25,000. Manchester Financial Inc. purchased a new stake in shares of Xcel Energy in the second quarter valued at approximately $26,000. Dougherty Wealth Advisers LLC purchased a new stake in shares of Xcel Energy in the second quarter valued at approximately $30,000. Finally, First Bank & Trust acquired a new position in Xcel Energy during the first quarter worth $39,000. 73.96% of the stock is owned by institutional investors and hedge funds.

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 and Estimates for Xcel Energy (NYSE:XEL)

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