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

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Equities analysts expect Xcel Energy Inc (NYSE:XEL) to report $1.04 earnings per share for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Xcel Energy’s earnings, with the highest EPS estimate coming in at $1.06 and the lowest estimate coming in at $0.98. Xcel Energy posted earnings per share of $0.96 during the same quarter last year, which would indicate a positive year-over-year growth rate of 8.3%. The business is expected to announce its next earnings results 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 fiscal year, with EPS estimates ranging from $2.60 to $2.65. For the next financial year, analysts forecast that the business will post earnings of $2.79 per share, with EPS estimates ranging from $2.75 to $2.82. Zacks’ EPS calculations are an average based on a survey of sell-side research analysts that cover Xcel Energy.

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

XEL has been the subject of a number of research reports. Argus lifted their price target on Xcel Energy to $64.00 and gave the stock a “buy” rating in a research note on Thursday, May 23rd. KeyCorp initiated coverage on Xcel Energy in a research note on Tuesday, June 4th. They issued an “overweight” rating and a $62.00 price target for the company. Zacks Investment Research downgraded Xcel Energy from a “hold” rating to a “sell” rating and set a $64.00 price target for the company. in a research note on Saturday, July 27th. Barclays downgraded Xcel Energy from an “overweight” rating to an “equal weight” rating and set a $64.00 price target for the company. in a research note on Tuesday. They noted that the move was a valuation call. Finally, Morgan Stanley lifted their target price on Xcel Energy from $57.00 to $60.00 and gave the company an “equal weight” rating in a research note on Friday, June 14th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $59.71.

In related news, CFO Robert Frenzel sold 4,400 shares of the business’s stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $58.60, for a total transaction of $257,840.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Benjamin G. S. Fowke III sold 50,000 shares of the business’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 sale, the chief executive officer now directly 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 ninety days, insiders have sold 69,400 shares of company stock worth $4,112,790. Corporate insiders own 0.22% of the company’s stock.

Large investors have recently made changes to their positions in the stock. California Public Employees Retirement System grew its holdings in shares of Xcel Energy by 18.2% during the 2nd quarter. California Public Employees Retirement System now owns 3,940,117 shares of the utilities provider’s stock valued at $234,398,000 after acquiring an additional 608,069 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its holdings in shares of Xcel Energy by 1.3% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 74,612 shares of the utilities provider’s stock valued at $4,439,000 after acquiring an additional 974 shares in the last quarter. Worldquant Millennium Advisors LLC grew its holdings in shares of Xcel Energy by 25.9% during the 2nd quarter. Worldquant Millennium Advisors LLC now owns 34,525 shares of the utilities provider’s stock valued at $2,054,000 after acquiring an additional 7,094 shares in the last quarter. Doyle Wealth Management purchased a new position in shares of Xcel Energy during the 2nd quarter valued at $173,000. Finally, Schroder Investment Management Group grew its holdings in shares of Xcel Energy by 217.3% during the 2nd quarter. Schroder Investment Management Group now owns 110,856 shares of the utilities provider’s stock valued at $6,595,000 after acquiring an additional 75,924 shares in the last quarter. 73.96% of the stock is currently owned by hedge funds and other institutional investors.

NYSE:XEL traded up $0.75 during mid-day trading on Thursday, reaching $61.53. The stock had a trading volume of 2,389,672 shares, 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 business has a 50 day simple moving average of $60.61.

About Xcel Energy

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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