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's third-quarter 2021 GAAP diluted earnings per share (EPS) stood at $1.13, slightly down from $1.14 in 2020. Year-to-date EPS rose to $2.38 from $2.25 year-over-year. The company has narrowed its EPS guidance for 2021 to $2.94-$2.98 and initiated a 2022 EPS guidance of $3.10-$3.20. Strong earnings were attributed to increased electric and natural gas margins while O&M expenses decreased. Additionally, a $26 billion capital forecast for 2022-2026 aims to enhance customer benefits and support CO2 reduction goals.
Lightsource bp and Xcel Energy announced the development of a new 298MW solar farm in Pueblo, Colorado, their second project in the area. This investment pushes Lightsource bp's total commitment to Colorado's clean energy sector over $500 million. The solar farm will provide power to about 53,540 homes and reduce carbon emissions by 404,080 tons annually, equating to removing 87,000 cars from the roads. Construction is set to begin before the end of 2021, creating 300 local jobs.
Xcel Energy (NASDAQ: XEL) will hold a conference call to discuss its third quarter 2021 financial results on Thursday, October 28, 2021, at 9:00 a.m. Central Time. Earnings will be released before the opening of trading that day.
Participants can join the call by dialing 888-204-4368 (US) or 400-120-9101 (International), with a conference ID of 5692678. The call will also be available for replay from noon on October 28 through noon on October 31. For more details, visit xcelenergy.com.
Xcel Energy's Executive Chairman, Ben Fowke, met with President Biden at the National Renewable Energy Lab in Colorado. Fowke emphasized Xcel’s leadership in achieving a 100% carbon-free electricity goal by 2050, having already reduced carbon emissions by 51%. The company aims for an 80% reduction by 2030, with over 65% of its energy generated from wind and solar. Collaboration with the federal government and state leaders is crucial for developing policies supporting a clean energy future. Xcel acknowledges the need for reliable, carbon-free generating resources available 24/7.
Xcel Energy (XEL) has launched new electric vehicle (EV) charging programs in Colorado, enhancing accessibility and affordability for customers. The initiatives aim to support the state's goal of having 940,000 EVs on the road by 2030 and contribute to the company’s vision of powering 1.5 million EVs by the same year. The new residential programs offer low-cost charger installations, annual rewards, and rebates for home upgrades, while commercial solutions provide infrastructure support for businesses and communities. The plan includes deploying around 20,000 charging plugs over three years.
OriginClear Inc (OCLN) has secured a $1.8 million purchase order from a major U.S. power utility under a Master Services Agreement with its subsidiary, Progressive Water Treatment (PWT). The total expected revenue under the MSA is $5 million, dependent on future orders. This contract marks a significant return to large power plant contracts for PWT, which previously held notable projects with the utility. Additionally, OriginClear’s Modular Water Systems division recorded nearly $900,000 in orders in June, indicating strong demand.
Xcel Energy has appointed Bob Frenzel as the new president and CEO, succeeding Ben Fowke, who will serve as executive chairman of the Board of Directors. Frenzel, who joined Xcel in 2016 and has served as CFO and COO, aims to focus on strategic priorities like enhancing customer experience and leading the clean energy transition. Tim O’Connor will now take on the role of executive vice president and COO, overseeing various operations. Fowke’s tenure saw significant strides in carbon emissions reduction and the expansion of renewable energy initiatives.
The Board of Directors of Xcel Energy declared a quarterly dividend of 45.75 cents per share, payable on October 20, 2021, to shareholders of record on September 15, 2021. Xcel Energy operates in 8 states, serving 3.7 million electricity and 2.1 million natural gas customers. This dividend reflects the company's ongoing commitment to returning value to shareholders. For more information, visit www.xcelenergy.com.
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