Bank of America Securities analyst Ross Fowler has reiterated their bullish stance on XEL stock, giving a Buy rating on October 10.
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Ross Fowler has given his Buy rating due to a combination of factors including Xcel Energy’s expected operating earnings for Q3 2025, which are projected to be $1.28 per share, slightly higher than the previous year’s $1.25 per share. Despite the consensus expectation of $1.36 per share, the company benefits from higher rates and sales, capital riders, and AFUDC, although these are partially offset by normal weather conditions, increased interest, depreciation, amortization, property tax expenses, and equity dilution. The $290 million charge related to the Marshall Wildfire settlement is anticipated to be a one-time deduction from operating earnings.
Additionally, Fowler anticipates Xcel Energy will reaffirm its 2025 earnings per share guidance of $3.75 to $3.85, along with an EPS growth guidance of 6% to 8% and a dividend growth guidance of 4% to 6%. The upcoming Q3 call is expected to provide a comprehensive update on the company’s financial plan, including EPS guidance for 2026, capital spending plans, and updates on sales, rate base, and earnings growth expectations. The unchanged price objective of $84 per share reflects confidence in the company’s growth prospects.
In another report released on October 10, Barclays also maintained a Buy rating on the stock with a $83.00 price target.