Brokerages predict that Xcel Energy Inc (NYSE:XEL) will report sales of $3.18 billion for the current quarter, Zacks reports. Two analysts have made estimates for Xcel Energy’s earnings. The highest sales estimate is $3.37 billion and the lowest is $2.99 billion. Xcel Energy reported sales of $3.01 billion during the same quarter last year, which would suggest a positive year over year growth rate of 5.6%. The company is scheduled to announce its next earnings results on Thursday, October 22nd.
On average, analysts expect that Xcel Energy will report full-year sales of $11.51 billion for the current fiscal year, with estimates ranging from $11.26 billion to $11.98 billion. For the next financial year, analysts forecast that the firm will report sales of $12.32 billion, with estimates ranging from $11.68 billion to $12.95 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover Xcel Energy.
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 firm had revenue of $2.59 billion for the quarter, compared to analyst estimates of $2.76 billion.
Several equities analysts have recently issued reports on the company. Morgan Stanley lifted their price target on Xcel Energy from $56.00 to $59.00 and gave the company an “underweight” rating in a research report on Friday, July 17th. KeyCorp raised their price objective on Xcel Energy from $66.00 to $74.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 21st. Mizuho raised their price objective on Xcel Energy from $61.00 to $68.00 and gave the stock a “neutral” rating in a research note on Friday, August 21st. Finally, Argus lowered Xcel Energy from a “buy” rating to a “hold” rating in a research note on Tuesday, August 25th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $64.62.
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In other news, CEO Benjamin G. S. Fowke III sold 99,798 shares of the firm’s stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $71.31, for a total value of $7,116,595.38. Following the completion of the sale, the chief executive officer now owns 361,733 shares of the company’s stock, valued at $25,795,180.23. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.22% of the company’s stock.
Large investors have recently made changes to their positions in the stock. Two Sigma Investments LP raised its holdings in shares of Xcel Energy by 64.8% during the first quarter. Two Sigma Investments LP now owns 79,338 shares of the utilities provider’s stock worth $4,784,000 after acquiring an additional 31,204 shares in the last quarter. AXA raised its holdings in shares of Xcel Energy by 110.2% during the first quarter. AXA now owns 22,511 shares of the utilities provider’s stock worth $1,358,000 after acquiring an additional 11,800 shares in the last quarter. Empirical Finance LLC purchased a new stake in shares of Xcel Energy during the second quarter worth $215,000. APG Asset Management N.V. raised its holdings in shares of Xcel Energy by 187.7% during the first quarter. APG Asset Management N.V. now owns 1,040,316 shares of the utilities provider’s stock worth $62,731,000 after acquiring an additional 678,675 shares in the last quarter. Finally, Pacer Advisors Inc. raised its holdings in shares of Xcel Energy by 92.5% during the second quarter. Pacer Advisors Inc. now owns 85,848 shares of the utilities provider’s stock worth $5,366,000 after acquiring an additional 41,258 shares in the last quarter. Institutional investors and hedge funds own 73.96% of the company’s stock.
Shares of XEL stock opened at $68.55 on Wednesday. Xcel Energy has a 1 year low of $46.58 and a 1 year high of $73.00. The business’s fifty day moving average is $68.84 and its 200-day moving average is $64.88.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 20th. Stockholders of record on Tuesday, September 15th will be given a $0.43 dividend. The ex-dividend date is Monday, September 14th. This represents a $1.72 annualized dividend and a dividend yield of 2.51%.
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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