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) announced the closing of its registered underwritten offering of 18,320,610 shares of common stock, resulting in approximately $1.18 billion in net proceeds. The company entered into forward sale agreements with Barclays Bank PLC and Bank of America at an initial forward sale price of $64.4356 per share. The underwriters have a 30-day option to purchase up to an additional 2,748,091 shares. Settlement is expected by June 30, 2026. The proceeds will be used for general corporate purposes, including capital contributions to utility subsidiaries, acquisitions, and/or short-term debt repayment.
Xcel Energy (NASDAQ: XEL) has priced a registered underwritten offering of 18,320,610 shares of common stock at $65.50 per share. The company entered into forward sale agreements with Barclays Bank PLC and Bank of America, N.A. The underwriters have a 30-day option to purchase up to an additional 2,748,091 shares. Settlement is expected by June 30, 2026. The proceeds will be used for general corporate purposes, including capital contributions to utility subsidiaries, acquisitions, and/or short-term debt repayment. The offering is expected to close around November 5, 2024.
Xcel Energy (NASDAQ: XEL) has announced a registered underwritten offering of $1.2 billion of common stock shares, with an additional $180 million option available to underwriters. The company will enter forward sale agreements with Barclays Bank PLC and Bank of America, N.A. as forward purchasers. Settlement is expected by June 30, 2026. The net proceeds will be used for general corporate purposes, including capital contributions to utility subsidiaries, acquisitions, and/or short-term debt repayment. Barclays and BofA Securities are acting as joint book-running managers for the offering.
Xcel Energy (XEL) reported third quarter 2024 GAAP earnings of $682 million ($1.21 per share), up from $656 million ($1.19 per share) in 2023. Ongoing earnings reached $707 million ($1.25 per share), compared to $682 million ($1.23 per share) in 2023. The company reaffirmed its 2024 ongoing EPS guidance of $3.50-$3.60 and initiated 2025 EPS guidance of $3.75-$3.85. Xcel Energy announced a new $45 billion investment plan over five years, targeting long-term annual EPS growth of 6-8% and dividend growth of 4-6%.
Xcel Energy (NASDAQ: XEL) has announced its upcoming Third Quarter 2024 Earnings Conference Call, scheduled for Thursday, October 31, 2024. The earnings report will be released before the market opens, followed by the conference call at 9:00 a.m. Central Time. Participants are advised to dial in at least 10 minutes early using the provided US (1-866-580-3963) or International (400-120-0558) numbers, with the conference password 7505923.
The call will be simultaneously webcast and archived on Xcel Energy's website. For those unable to attend live, a replay will be available until November 4, accessible via the US Dial-In: 1-866-583-1035 with the replay password 7505923#. Financial analysts can contact Paul Johnson, VP of Treasurer & Investor Relations, while media inquiries should be directed to Xcel Energy Media Relations.
Xcel Energy is making significant strides in its clean energy and sustainability goals, as highlighted during Climate Week NYC, Clean Energy Week, and Drive Electric Week. The company has reduced carbon emissions by 54% from 2005 levels, aiming for 100% carbon-free electricity by 2050. Xcel Energy's energy mix is now more than 50% carbon-free, surpassing the national average of 41%.
Key achievements include:
- Reducing 46.3 million short tons of CO2e by 2023
- Cutting sulfur dioxide emissions by 83% and nitrogen oxides by 85%
- Saving 1,300 gigawatt hours of electricity through demand-side management programs
- Helping customers complete about 7 million energy efficiency projects in 2023
- Producing 40% of energy from renewable sources and 10% from nuclear
- Planning to fully exit coal generation by the end of 2030
Xcel Energy is also advancing electric vehicle adoption, with over 143,000 EVs in its service area, a 50% increase from 2022. The company aims to enable zero-carbon transportation across its service area by 2050.
Xcel Energy has appointed Todd Wehner as the company's new treasurer and vice president. Wehner, who previously served as assistant treasurer at CMS Energy, brings extensive experience in treasury, utility operations, and capital markets. In his new role, he will manage Xcel Energy's funding for capital investments, cash functions, insurance processes, and investment activities.
Wehner's appointment is expected to benefit customers by ensuring cost-effective capital raising for grid and energy investments. His background includes roles at Morgan Stanley and Barclays, focusing on global utilities and chemicals industries. Wehner, whose father was a career lineworker, views his new position as an opportunity to contribute to Xcel Energy's clean energy transition efforts across multiple operating companies and states.
Xcel Energy (NASDAQ: XEL) reported second quarter 2024 GAAP and ongoing earnings of $302 million, or $0.54 per share, compared to $288 million, or $0.52 per share, in Q2 2023. The company reaffirmed its 2024 EPS guidance of $3.50 to $3.60 per share. Earnings growth was attributed to increased infrastructure investments and warmer weather, partially offset by higher depreciation, interest charges, and O&M expenses.
CEO Bob Frenzel highlighted Xcel Energy's progress in meeting growing energy demand while advancing clean energy initiatives. The company filed an updated Wildfire Mitigation Plan in Colorado and supported legislation to enhance distribution system planning. In Minnesota, Xcel Energy reached a settlement in its natural gas rate case, maintaining residential rates below the national average.
Xcel Energy Inc. (NASDAQ: XEL) has announced a quarterly dividend of 54.75 cents per share on its common stock. The dividend will be payable on October 20, 2024, to shareholders of record as of September 13, 2024. Xcel Energy is a major U.S. utility company operating in 8 Western and Midwestern states, serving 3.8 million electricity customers and 2.2 million natural gas customers through its regulated operating companies. The company, headquartered in Minneapolis, provides a comprehensive portfolio of energy-related products and services.
Xcel Energy (NASDAQ: XEL) will release its second quarter 2024 financial results on August 1, 2024, before the market opens. On the same day, at 9:00 a.m. Central Time, the company will host a conference call to review these results. Investors and analysts are encouraged to participate by dialing in at least 10 minutes before the call. US participants can dial 1-866-580-3963, while international participants can use 400-120-0558. The conference password for both is 2632580.
For those unable to join the live call, the event will be webcast and archived on the Xcel Energy website under the 'Investors' section. A replay will also be available until August 5, 2024, by dialing 1-866-583-1035 and using the password 2632580#.
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