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 Inc. (NASDAQ: XEL) announced a quarterly dividend increase from 43 cents to 45.75 cents per share, marking a 6.4% hike and a projected annual rate of $1.83 per share. This dividend will be payable on April 20, 2021, to shareholders of record by March 15, 2021. The increase aligns with Xcel's goal of a 5-7% annual dividend growth, reflecting the company's confidence in its long-term business strategy and commitment to delivering strong returns to shareholders.
Xcel Energy has achieved a major milestone by reaching 10,000 megawatts of wind energy capacity online, driven by 10 new wind projects across the Upper Midwest, Colorado, Texas, and New Mexico. By year-end, over 31% of the company's energy capacity is expected to be from wind. Xcel Energy's ambitious goal includes reducing carbon emissions by 80% by 2030 and reaching 100% carbon-free energy by 2050. The projects generated thousands of construction jobs and provided economic benefits to local communities.
Xcel Energy reported 2020 earnings of $1.47 billion, or $2.79 per share, up from $1.37 billion or $2.64 per share in 2019. The company highlighted key milestones amid COVID-19 challenges, including a $750 million wind farm repowering plan in Minnesota aimed at significant customer savings and job creation. The approval of an electric vehicle plan in Colorado was also announced. Additionally, Xcel committed nearly $20 million to community support and detailed plans to retire coal plants, targeting 80% carbon reduction by 2030 and 100% carbon-free electricity by 2050.
Xcel Energy has announced plans to implement a 900 MHz private wireless broadband network using Anterix's spectrum, intended to enhance response times for electric outages and support smart meters. The network, deployed by Motorola Solutions, will be operational at two sites in Minneapolis and aims to bolster grid security and communication. This initiative follows recent FCC actions allowing infrastructure providers to establish private networks, ultimately benefiting customers through improved service and advanced technology integration.
Xcel Energy has announced a plan to redeem all outstanding 2.40% Senior Notes due March 15, 2021, totaling $400 million, on February 16, 2021. The redemption price will include the principal amount and any accrued interest. This announcement serves as a notice of intent rather than a formal redemption notice, with details to be provided by the trustee, Wells Fargo Bank. Forward-looking statements in the PR indicate that actual execution may be subject to various economic and industry risks.
Xcel Energy (NASDAQ: XEL) will host a conference call on January 28, 2021, at 9:00 a.m. Central Time to discuss its fourth quarter and year-end financial results for 2020. Earnings will be released before the market opens. Participants must dial in 5-10 minutes prior to the call, using US dial-in number 888-394-8218 or the international number 400-120-8590, with conference ID 6174235. The call will also be broadcasted live on the company's website, with a replay available until January 31, 2021.
Xcel Energy Inc. (NASDAQ: XEL) has declared a quarterly dividend of 43 cents per share, scheduled for payment on January 20, 2021. This dividend is payable to shareholders of record as of December 23, 2020. With operations across 8 states, Xcel Energy serves 3.7 million electricity and 2.1 million natural gas customers. The company continues to provide a wide range of energy services, reinforcing its position in the market.
Xcel Energy Inc. (NASDAQ: XEL) announced the submission of a redemption notice to redeem all outstanding 2.60% Senior Notes, Series due March 15, 2022, on December 1, 2020. The aggregate principal amount outstanding is $300 million. The redemption price will be the greater of the principal amount or a make-whole premium, plus accrued interest. This announcement serves as an advisory, and holders of the Notes will receive a formal notice from Wells Fargo Bank, the trustee. Forward-looking statements indicate potential risks affecting the redemption.
Xcel Energy reported a third-quarter GAAP and ongoing earnings of $603 million, or $1.14 per share, in 2020, up from $527 million, or $1.01 per share, in 2019. The company narrowed its 2020 earnings guidance to $2.75 to $2.81 per share and provided a 2021 outlook of $2.90 to $3.00 per share. Plans for a $22.6 billion investment in base capital over five years include $1.4 billion to address COVID-19 impacts, aiming to create 5,000 jobs and expand its renewable energy portfolio. A 10-year vision aims to power 1.5 million electric vehicles by 2030.
FAQ
What is the current stock price of Xcel Energy (XEL)?
What is the market cap of Xcel Energy (XEL)?
What services does Xcel Energy provide?
Where does Xcel Energy operate?
What is Xcel Energy’s commitment to renewable energy?
How many employees does Xcel Energy have?
What are the names of Xcel Energy’s subsidiaries?
What is the future workforce challenge for Xcel Energy?
How does Xcel Energy ensure the reliability of its services?
What financial condition is Xcel Energy in?
What are Xcel Energy's recent achievements?
How can new employees impact Xcel Energy’s future?
