Xcel Energy, Inc. (NASDAQ: XEL): A Business Review And Growth Forecast

In the last trading session, 4.27 million shares of the Xcel Energy, Inc. (NASDAQ:XEL) were traded, and its beta was 0.37. Most recently the company’s share price was $53.28, and it changed around -$0.47 or -0.87% from the last close, which brings the market valuation of the company to $29.58B. XEL currently trades at a discount to its 52-week high of $71.96, offering almost -35.06% off that amount. The share price’s 52-week low was $46.79, which indicates that the current value has risen by an impressive 12.18% since then. We note from Xcel Energy, Inc.’s average daily trading volume that its 10-day average is 3.84 million shares, with the 3-month average coming to 5.75 million.

Xcel Energy, Inc. stock received a consensus recommendation rating of Hold, based on a mean score of 2.12. If we narrow it down even further, the data shows that 0 out of 13 analysts rate the stock as a Sell; another 3 rate it as Overweight. Among the rest, 9 recommended XEL as a Hold, whereas 1 deemed it a Buy, and 0 rated it as Underweight. Xcel Energy, Inc. is expected to report earnings per share of $0.8 for the current quarter.

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Xcel Energy, Inc. (NASDAQ:XEL) trade information

Instantly XEL has showed a red trend with a performance of -0.87% at the end of last trading. The performance over the last five days has remained in the green territory. The company’s shares are currently down -13.94% year-to-date, but still up 1.93% over the last five days. On the other hand, Xcel Energy, Inc. (NASDAQ:XEL) is 1.12% up in the 30-day period. We can see from the shorts that 6.8 million shares have been sold at a short interest cover period of 0.77 day(s).

The consensus price target as assigned by Wall Street analysts is $69.88, which translates to bulls needing to increase their stock price by 23.76% from its current value. Analyst projections state that XEL is forecast to be at a low of $54 and a high of $80.

Xcel Energy, Inc. (XEL) estimates and forecasts

Xcel Energy, Inc. share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -6.31 percent over the past six months and at a 6.27% annual growth rate that is well above the industry average of 6.00%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will gain 5.30% in revenue this quarter, and will report an increase of 13.50% in the next quarter. The year-over-year growth rate is expected to be 9.70%, up from the previous year.

Consensus estimates provided by 4 financial analysts predict the company will bring in an average of $4.15 billion in revenue for the current quarter. 4 analysts expect Xcel Energy, Inc. to make $3.34 billion in revenue for the quarter ending Jun 2024. The company’s sales for the same quarters a year ago were $3.76 billion and $3.02 billion respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 10.30%. Forecasts for the next quarter put sales growth at 10.40%.

Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 5.37%. Xcel Energy, Inc. earnings are expected to increase by 6.69% in 2024, but the outlook is positive 6.43% per year for the next five years.

XEL Dividends

Xcel Energy, Inc.’s next quarterly earnings report is expected to be released around April 25 and April 29. The annual dividend yield of the stock is 3.96 percent and its annual dividend per share was 2.11. It is important to note, however, that the 3.96% dividend yield ratio should be regarded as a guide only, as many other factors should be taken into consideration before making any investment decision.

Xcel Energy, Inc. (NASDAQ:XEL)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 0.15% of Xcel Energy, Inc. shares, and 82.24% of them are in the hands of institutional investors. The stock currently has a share float of 82.36%. Xcel Energy, Inc. stock is held by 1,340 institutions, with Vanguard Group Inc being the largest institutional investor. By Jun 29, 2023, it held 10.78% of the shares, which is about 55.42 million shares worth $3.45 billion.

Blackrock Inc., with 9.72% or 50.0 million shares worth $3.11 billion as of Jun 29, 2023, holds the second largest percentage of outstanding shares.

Vanguard Total Stock Market Index Fund and Vanguard 500 Index Fund were the top two Mutual Funds as of Jun 29, 2023. The former held 17.14 million shares worth $1.07 billion, making up 3.33% of all outstanding shares. On the other hand, Vanguard 500 Index Fund held roughly 13.1 million shares worth around $814.65 million, which represents about 2.55% of the total shares outstanding.