Xcel Energy Backs Earnings View For FY21, Long Term

(RTTNews) - While announcing higher first-quarter results, Xcel Energy Inc (XEL) Thursday said it continues to expect fiscal 2021 GAAP and ongoing earnings in a range of $2.90 to $3.00 per share, higher than last year's $2.79 per share.

On average, 16 analysts polled by Thomson Reuters expected the company to report earnings of $2.97 per share. Analysts' estimates typically exclude special items.

Further, Xcel Energy said it expects to deliver an attractive total return to shareholders through a combination of earnings growth and dividend yield, based on its long-term objectives.

The company projects long-term annual earnings per share growth of 5 percent to 7 percent based off of a 2020 base of $2.78 per share, which represents the mid-point of the original 2020 guidance range of $2.73 to $2.83 per share.

The company also expects to deliver annual dividend increases of 5 percent to 7 percent, and targets a dividend payout ratio of 60 percent to 70 percent.