Welcome to our dedicated page for Xcel Energy news (Ticker: XEL), a resource for investors and traders seeking the latest updates and insights on Xcel Energy stock.
Xcel Energy, Inc. (symbol: XEL) is a leading electric and natural gas energy provider, serving 3.8 million electricity customers and 2.1 million natural gas customers across eight states: Colorado, Michigan, Minnesota, New Mexico, North Dakota, South Dakota, Texas, and Wisconsin. The company offers a comprehensive portfolio of energy-related products and services tailored to meet the diverse needs of its customer base.
Xcel Energy's operations are supported by a dedicated workforce of over 12,000 employees, who are committed to ensuring safe, reliable, and affordable energy delivery. The company is navigating the dynamic and ever-evolving utility industry by focusing on customer-centric approaches, forward-thinking strategies, and productivity enhancements.
One of Xcel Energy’s significant commitments is to renewable energy. As one of the largest renewable energy owners and suppliers in the United States, more than half of the company's electricity sales come from carbon-free energy sources. This positions Xcel Energy as a key player in the transition to cleaner energy, with substantial investments in wind, solar, and other renewable technologies.
Xcel Energy operates through several subsidiaries, including Northern States Power, which serves customers in Minnesota, North Dakota, South Dakota, Wisconsin, and Michigan; Public Service Company of Colorado; and Southwestern Public Service Company, which caters to customers in Texas and New Mexico. These subsidiaries ensure localized service and management, catering to the unique needs of each region.
In terms of financial health, Xcel Energy maintains a robust financial condition, with ongoing projects aimed at modernizing the grid and enhancing energy efficiency. The company has also established partnerships with various stakeholders to drive innovation and sustainability in its operations.
Looking ahead, Xcel Energy faces a considerable workforce transition, with nearly 50% of its current employees eligible for retirement in the next five years. This presents both a challenge and an opportunity for new talent to join the company, particularly those passionate about renewable energy and community engagement. New employees have the chance to directly influence the company’s energy future.
Xcel Energy remains steadfast in its mission to deliver safe, reliable, and sustainable energy. Through continuous improvement and a commitment to innovation, the company is well-positioned to meet the evolving energy needs of its customers and contribute to a cleaner energy landscape.
Xcel Energy (NASDAQ: XEL) reported strong financial results for 2024, with GAAP earnings reaching $1.94 billion ($3.44 per share), up from $1.77 billion ($3.21 per share) in 2023. The company's ongoing earnings increased to $1.97 billion ($3.50 per share) from $1.85 billion ($3.35 per share) in 2023.
The improved performance was driven by increased recovery of infrastructure investments, though partially offset by higher depreciation, interest charges, and O&M expenses. The company has reaffirmed its 2025 EPS guidance of $3.75 to $3.85 per share and notably achieved its earnings guidance for the 20th consecutive year.
Xcel Energy (NASDAQ: XEL) has announced the election of Devin Stockfish to its board of directors, effective January 23, 2025. Stockfish, who currently serves as president and CEO of Weyerhaeuser Co., North America's largest integrated timber and forest products company, brings extensive expertise in leading publicly traded, capital-intensive businesses.
Stockfish will serve on Xcel Energy's Finance committee and Operations, Nuclear, Environmental and Safety (ONES) committee. With his addition, the board will expand to 14 members. His background includes nearly 12 years at Weyerhaeuser in various senior roles, previous positions at Univar Solutions , Starbucks Corp., and Boeing Co. He holds a Juris Doctor from Columbia Law School and a BS in mechanical engineering from the University of Colorado.
Xcel Energy (XEL) has announced a leadership change in its Investor Relations department. Roopesh Aggarwal has been appointed as vice president of Investor Relations, replacing Paul Johnson, who is retiring after more than 40 years with the company.
Aggarwal, who joined Xcel Energy in 2019 as senior director of Business Innovation and became senior director of Investor Relations in 2022, brings experience from various finance, strategy, and corporate development roles at Summit Utilities, DTE Energy, Ford Motor Co., and private equity firms. He currently oversees the company's quarterly earnings calls, investor presentations, and shareholder services.
Johnson will remain in an advisory role through the completion of annual financial reporting and depart after the first quarter.
Xcel Energy (NASDAQ: XEL) has announced its upcoming fourth quarter and year end 2024 financial results conference call, scheduled for Thursday, February 6, 2025. The earnings report will be released before the market opens on the same day.
The conference call will begin at 9:00 a.m. Central Time. Participants are advised to dial in at least 10 minutes before the start. The call will be accessible via US Dial-In (1-866-580-3963) and International Dial-In (400-120-0558) with conference password 7903558. A simultaneous webcast will be available on www.xcelenergy.com under the Investors section.
For those unable to attend the live event, a replay will be available through February 11 via US Dial-In (1-866-583-1035) using the replay password 7903558#.
Xcel Energy (XEL) has received federal approval from the U.S. Nuclear Regulatory Commission to extend its Monticello Nuclear Generating Plant's operating license for an additional 20 years, through 2050. The extension requires state regulatory approval, with the Minnesota Public Utilities Commission already approving operations through 2040.
The Monticello plant is a important carbon-free energy source, powering over 500,000 homes annually in the Upper Midwest. Together with the Prairie Island Nuclear Generating Plant, it provides nearly a quarter of Xcel Energy's electricity supply in the Upper Midwest region. The plant serves as Monticello's largest employer and local taxpayer.
This extension supports Xcel Energy's transition to 100% carbon-free electricity and addresses growing customer electricity demand. The approval followed extensive NRC inspections, audits, and technical reviews ensuring safety and environmental standards compliance.
Xcel Energy (NASDAQ: XEL) has announced its Board of Directors has declared a quarterly dividend of $0.5475 per share on its common stock. The dividend will be paid on January 20, 2025, to shareholders of record as of January 6, 2025.
The company operates in 8 Western and Midwestern states, serving 3.8 million electricity customers and 2.2 million natural gas customers through its regulated operating companies. Xcel Energy is headquartered in Minneapolis and provides a comprehensive portfolio of energy-related products and services.
Xcel Energy (NASDAQ: XEL) has announced the pricing terms and upsizing of its cash tender offers for outstanding first mortgage bonds issued by Northern States Power Company (NSPM). The company has increased the aggregate tender cap from $110,000,000 to $166,000,000. The tender offers target the 2.60% First Mortgage Bonds Series due June 1, 2051.
The total consideration offered is $632.67 per $1,000 principal amount, which includes a $30 early tender payment. The final proration factor is 37.7% due to oversubscription. The settlement date for accepted bonds is expected to be December 18, 2024. Xcel Energy will fund the purchases using cash on hand.
Xcel Energy (XEL) announced the early results of its cash tender offers to purchase up to $110,000,000 of outstanding first mortgage bonds issued by Northern States Power Company (NSPM). The company anticipates increasing the aggregate tender cap based on U.S. Treasury Reference Security pricing.
The tender offer primarily focuses on the 2.60% First Mortgage Bonds due 2051, with $440,456,000 principal amount tendered out of $700,000,000 outstanding. Even with a potential cap increase, Xcel Energy doesn't expect to accept bonds from other series.
Holders who validly tendered by the Early Tender Date will receive the Total Consideration, including a $30 per $1,000 early tender payment. The settlement date is expected to be December 18, 2024, and the offer expires on December 31, 2024.
Xcel Energy is enhancing wildfire detection in the Texas Panhandle through a partnership with Pano AI to install over 50 camera stations across nearly a dozen counties by 2025. The initiative combines 360-degree HD cameras with AI-driven smoke detection and satellite data integration to continuously monitor for fires.
The system will provide immediate alerts to 911 call centers and first responders when potential fires are detected, with human analysts verifying threats and triangulating locations. Each camera station will perform a 360-degree sweep every minute, covering counties including Carson, Gray, Roberts, Hutchinson, Wheeler, and others.
This five-year program builds upon Xcel Energy's existing wildfire mitigation measures, including power line inspections and vegetation management, with plans to expand into New Mexico service territory in the future.
Xcel Energy (XEL) has announced cash tender offers to purchase up to $110,000,000 of outstanding first mortgage bonds issued by its subsidiary Northern States Power Company. The tender offers target five series of bonds with varying interest rates and maturities ranging from 2046 to 2052. Holders who tender their bonds by December 13, 2024 (Early Tender Date) will receive the Total Consideration including a $30 Early Tender Payment per $1,000 principal amount. The offers will expire on December 31, 2024, unless extended or terminated earlier. The settlement dates are expected to be December 18, 2024, for early tenders and January 6, 2025, for regular tenders.
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