Xcel Energy Inc (NYSE:XEL) Expected to Post Quarterly Sales of $3.20 Billion

Brokerages expect Xcel Energy Inc (NYSE:XEL) to report sales of $3.20 billion for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Xcel Energy’s earnings. The highest sales estimate is $3.29 billion and the lowest is $3.10 billion. Xcel Energy reported sales of $3.05 billion in the same quarter last year, which would suggest a positive year over year growth rate of 4.9%. The business is expected to report its next quarterly earnings report on Thursday, October 24th.

On average, analysts expect that Xcel Energy will report full-year sales of $11.90 billion for the current fiscal year, with estimates ranging from $11.76 billion to $12.14 billion. For the next year, analysts anticipate that the company will report sales of $12.49 billion, with estimates ranging from $12.05 billion to $12.77 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Xcel Energy.

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

A number of equities analysts have recently issued reports on the stock. Zacks Investment Research lowered shares of Xcel Energy from a “hold” rating to a “sell” rating and set a $64.00 target price on the stock. in a research report on Saturday, July 27th. KeyCorp assumed coverage on shares of Xcel Energy in a research report on Tuesday, June 4th. They set an “overweight” rating and a $62.00 target price on the stock. Argus upped their target price on shares of Xcel Energy to $64.00 and gave the stock a “buy” rating in a research report on Thursday, May 23rd. Barclays lowered shares of Xcel Energy from an “overweight” rating to an “equal weight” rating and set a $64.00 price objective on the stock. in a report on Tuesday. They noted that the move was a valuation call. Finally, Wolfe Research set a $57.00 price objective on shares of Xcel Energy and gave the company a “hold” rating in a report on Friday, April 26th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. Xcel Energy presently has a consensus rating of “Hold” and an average target price of $59.71.

Shares of XEL stock traded up $0.75 during trading hours on Friday, reaching $61.53. 2,389,672 shares of the company were exchanged, compared to its average volume of 3,229,924. Xcel Energy has a fifty-two week low of $46.01 and a fifty-two week high of $62.03. The business has a fifty day moving average price of $60.61.

In other Xcel Energy news, CFO Robert Frenzel sold 4,400 shares of the stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $58.60, for a total value of $257,840.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Benjamin G. S. Fowke III sold 50,000 shares of the stock in a transaction on Friday, June 7th. The stock was sold at an average price of $59.81, for a total transaction of $2,990,500.00. Following the completion of the sale, the chief executive officer now owns 608,862 shares in the company, valued at $36,416,036.22. The disclosure for this sale can be found here. Insiders sold 69,400 shares of company stock worth $4,112,790 over the last 90 days. 0.22% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of XEL. Townsend & Associates Inc increased its position in shares of Xcel Energy by 0.6% during the second quarter. Townsend & Associates Inc now owns 28,904 shares of the utilities provider’s stock worth $1,755,000 after acquiring an additional 166 shares in the last quarter. 6 Meridian grew its position in Xcel Energy by 1.8% in the second quarter. 6 Meridian now owns 9,558 shares of the utilities provider’s stock valued at $569,000 after purchasing an additional 167 shares in the last quarter. Sandy Spring Bank grew its position in Xcel Energy by 8.1% in the first quarter. Sandy Spring Bank now owns 2,425 shares of the utilities provider’s stock valued at $136,000 after purchasing an additional 182 shares in the last quarter. Advisor Partners LLC grew its position in Xcel Energy by 1.4% in the second quarter. Advisor Partners LLC now owns 14,057 shares of the utilities provider’s stock valued at $836,000 after purchasing an additional 188 shares in the last quarter. Finally, Canandaigua National Bank & Trust Co. grew its position in Xcel Energy by 1.3% in the first quarter. Canandaigua National Bank & Trust Co. now owns 15,036 shares of the utilities provider’s stock valued at $845,000 after purchasing an additional 195 shares in the last quarter. Institutional investors own 73.96% of the company’s stock.

Xcel Energy Company Profile

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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Earnings History and Estimates for Xcel Energy (NYSE:XEL)

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