Xcel Energy Inc. (NASDAQ:XEL) Declares $0.59 Quarterly Dividend

Xcel Energy Inc. (NASDAQ:XEL) declared a quarterly dividend on Wednesday, July 29th. Shareholders of record on Tuesday, September 15th will be paid a dividend of 0.5925 per share on Tuesday, October 20th. This represents a c) dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend is Tuesday, September 15th.

Xcel Energy has raised its dividend by an average of 0.1%annually over the last three years and has increased its dividend annually for the last 22 consecutive years. Xcel Energy has a payout ratio of 57.4% meaning its dividend is sufficiently covered by earnings. Research analysts expect Xcel Energy to earn $4.50 per share next year, which means the company should continue to be able to cover its $2.37 annual dividend with an expected future payout ratio of 52.7%.

Xcel Energy Stock Performance

Shares of XEL stock opened at $78.75 on Thursday. The company has a market capitalization of $49.16 billion, a P/E ratio of 22.69, a PEG ratio of 2.09 and a beta of 0.39. Xcel Energy has a fifty-two week low of $69.16 and a fifty-two week high of $84.23. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.68 and a current ratio of 0.77. The stock has a 50 day moving average price of $79.64 and a two-hundred day moving average price of $79.42.

Xcel Energy (NASDAQ:XEL) last issued its earnings results on Wednesday, July 29th. The company reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.14. Xcel Energy had a net margin of 14.14% and a return on equity of 10.37%. The firm had revenue of $3.12 billion for the quarter, compared to analysts’ expectations of $3.54 billion. Analysts expect that Xcel Energy will post 4.11 earnings per share for the current year.

Wall Street Analyst Weigh In

XEL has been the topic of a number of recent analyst reports. Mizuho cut their price target on shares of Xcel Energy from $94.00 to $91.00 and set an “outperform” rating on the stock in a report on Tuesday, June 23rd. Evercore reissued an “outperform” rating and issued a $96.00 target price on shares of Xcel Energy in a research note on Monday, May 4th. Barclays upped their price target on Xcel Energy from $87.00 to $90.00 and gave the company an “overweight” rating in a research report on Thursday, July 9th. UBS Group increased their price objective on Xcel Energy from $89.00 to $91.00 and gave the stock a “buy” rating in a report on Monday, April 20th. Finally, Truist Financial lifted their price objective on Xcel Energy from $92.00 to $94.00 and gave the stock a “buy” rating in a research report on Thursday, July 16th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $92.65.

Xcel Energy Company Profile

Xcel Energy (NASDAQ: XEL) is a Minneapolis-based, publicly traded utility holding company that develops, owns and operates regulated electricity and natural gas delivery systems. The company’s core activities include generation, transmission and distribution of electricity, the delivery of natural gas to customers, and related customer service operations. Xcel provides a mix of utility services to residential, commercial and industrial customers and participates in wholesale energy markets where appropriate.

Its generation portfolio combines nuclear, natural gas, coal and a growing share of renewable resources such as wind and solar.