Xcel Energy Inc. (NASDAQ:XEL) Declares Quarterly Dividend of $0.55

Xcel Energy Inc. (NASDAQ:XEL) announced a quarterly dividend on Tuesday, July 30th, Zacks reports. Shareholders of record on Friday, September 13th will be paid a dividend of 0.548 per share on Sunday, October 20th. This represents a $2.19 dividend on an annualized basis and a yield of 3.79%. The ex-dividend date is Friday, September 13th. This is an increase from Xcel Energy’s previous quarterly dividend of $0.55.

Xcel Energy has raised its dividend by an average of 6.5% per year over the last three years and has raised its dividend every year for the last 21 years. Xcel Energy has a payout ratio of 56.9% indicating that its dividend is sufficiently covered by earnings. Analysts expect Xcel Energy to earn $3.83 per share next year, which means the company should continue to be able to cover its $2.19 annual dividend with an expected future payout ratio of 57.2%.

Xcel Energy Stock Down 0.7 %

XEL traded down $0.38 during midday trading on Thursday, reaching $57.90. The company’s stock had a trading volume of 87,081 shares, compared to its average volume of 4,459,350. The stock’s 50-day moving average is $54.45 and its 200-day moving average is $55.14. Xcel Energy has a 1 year low of $46.79 and a 1 year high of $64.25. The company has a current ratio of 0.86, a quick ratio of 0.74 and a debt-to-equity ratio of 1.48. The firm has a market capitalization of $32.17 billion, a price-to-earnings ratio of 17.50, a PEG ratio of 2.58 and a beta of 0.37.

Analysts Set New Price Targets

XEL has been the topic of a number of recent analyst reports. StockNews.com upgraded shares of Xcel Energy from a “sell” rating to a “hold” rating in a report on Thursday, May 2nd. Evercore ISI increased their price target on shares of Xcel Energy from $54.00 to $59.00 and gave the company an “outperform” rating in a report on Friday, April 26th. Bank of America increased their price objective on shares of Xcel Energy from $63.00 to $66.00 and gave the company a “buy” rating in a research report on Monday, April 29th. Morgan Stanley lowered their price objective on shares of Xcel Energy from $65.00 to $62.00 and set an “equal weight” rating on the stock in a research report on Monday, June 24th. Finally, KeyCorp lowered their price objective on shares of Xcel Energy from $68.00 to $65.00 and set an “overweight” rating on the stock in a research report on Friday, April 19th. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Xcel Energy currently has a consensus rating of “Moderate Buy” and an average target price of $62.00.

Xcel Energy Company Profile

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.