Xcel Energy Inc. (NASDAQ:XEL) Raises Dividend to $0.57 Per Share

Xcel Energy Inc. (NASDAQ:XEL) declared a quarterly dividend on Wednesday, February 26th, RTT News reports. Shareholders of record on Friday, March 14th will be paid a dividend of 0.57 per share on Sunday, April 20th. This represents a $2.28 annualized dividend and a yield of 3.22%. The ex-dividend date is Friday, March 14th. This is a positive change from Xcel Energy’s previous quarterly dividend of $0.55.

Xcel Energy has increased its dividend by an average of 6.2% annually over the last three years and has increased its dividend annually for the last 21 consecutive years. Xcel Energy has a dividend payout ratio of 52.9% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Xcel Energy to earn $4.14 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 52.9%.

Xcel Energy Stock Up 1.1 %

Shares of NASDAQ XEL opened at $70.76 on Friday. The company has a current ratio of 0.93, a quick ratio of 0.82 and a debt-to-equity ratio of 1.42. The company has a market cap of $40.63 billion, a price-to-earnings ratio of 20.57, a PEG ratio of 2.62 and a beta of 0.43. Xcel Energy has a 12 month low of $46.79 and a 12 month high of $73.38. The stock has a 50-day moving average price of $67.36 and a two-hundred day moving average price of $65.97.

Xcel Energy (NASDAQ:XEL) last released its quarterly earnings data on Thursday, February 6th. The company reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.06). Xcel Energy had a net margin of 14.40% and a return on equity of 10.65%. As a group, analysts forecast that Xcel Energy will post 3.82 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on XEL. Wells Fargo & Company upped their price objective on Xcel Energy from $72.00 to $75.00 and gave the company an “overweight” rating in a research note on Friday, February 7th. Barclays reduced their target price on Xcel Energy from $71.00 to $69.00 and set an “overweight” rating on the stock in a report on Wednesday, January 22nd. Jefferies Financial Group upgraded Xcel Energy from a “hold” rating to a “buy” rating and upped their target price for the company from $71.00 to $76.00 in a report on Friday, November 1st. KeyCorp upped their target price on Xcel Energy from $74.00 to $79.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Finally, Morgan Stanley reduced their target price on Xcel Energy from $74.00 to $72.00 and set an “equal weight” rating on the stock in a report on Friday, November 22nd. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $69.91.

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.