Xcel Energy foresees long-term 5%-7% annual EPS growth
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Xcel Energy (NASDAQ:XEL) +1.7% pre-market Thursday after edging past expectations for Q4 adjusted earnings and racking up an additional $1B in revenues compared to the year-ago quarter.
For FY 2023, Xcel (XEL) issued in-line guidance for EPS of $3.30-$3.40 vs. $3.37 analyst consensus estimate.
The company said it expects to deliver an attractive total return to shareholders through a combination of earnings growth and dividend yield, based on long-term objectives: Deliver long-term annual EPS growth of 5%-7% based on a 2022 base of $3.15/share, or the mid-point of original 2022 guidance range of $3.10-$3.20, deliver annual dividend increases of 5%-7%, target a dividend payout ratio of 60%-70%, and maintain senior secured debt credit ratings in the A range.
Xcel Energy (XEL) shares have lost 2% so far this year while gaining 1% during the past year.