Xcel Energy Inc. (XEL) is a major U.S. electricity and natural gas business with operations in eight Western and Midwestern states.
The company generated 92.4% of its revenue from Electric, 6.8% of its revenue from Natural Gas, and the remainder from other sources during the quarter ended September 30, 2020. These revenues are further divided into Residential (34.4%), C&I (44.0%), Wholesale (7.1%), and Transmission (5.0%) over the quarter.
Decent Guidance Offsets a Weak Q4
Xcel Energy reported fourth quarter revenue that rose 5.4% to $2.95 billion, missing consensus estimates by $210 million, and non-GAAP earnings of 54 cents, in line with consensus estimates. The company also reaffirmed 2021 EPS guidance of $2.90 to $3.00 per share versus a $2.97 per share consensus among analysts.
In February, Mizuho Securities reiterated its Neutral rating, saying that it continues to be successful in obtaining renewable generation approvals, but the company faces near-term challenges to maintain allowed returns in the current low-interest rate environment.
The company raised its quarterly dividend by 6.4% to $0.4575 per share, which represents a 2.95% forward yield. The dividend is payable on April 20, 2021 to shareholders on record as of March 15, 2021.
Want to keep track of all dividend increases? Subscribe to Dividend.com and have complete access to our exclusive dividend increases list here.
