Xcel Energy Inc Stock Price, News & Analysis

Xcel Energy has been recognized as the largest clean energy provider in the U.S. for wind, solar, and battery storage by the American Clean Power Association. The company boasts over 11,205 megawatts of clean power on its system as of the end of 2020, exceeding its nearest competitor by 43 megawatts. Xcel aims to deliver 100% carbon-free electricity by 2050 and targets an 80% reduction in carbon emissions by 2030. The recent completion of a massive wind expansion positions Xcel as a leader in renewable energy solutions.

Xcel Energy reported a strong performance in the second quarter of 2021, with GAAP earnings of $311 million or $0.58 per share, up from $287 million or $0.54 per share in 2020. This growth was driven by higher electric and natural gas margins despite increased expenses. The company reaffirmed its 2021 guidance and highlighted progress in rate case settlements across multiple states. Additionally, Xcel is on track to achieve 80% carbon-free electricity by 2030 and aims for 100% by 2050, with new renewable projects approved, including a significant solar facility in Wisconsin.

Xcel Energy (NASDAQ: XEL) will host a conference call on July 29, 2021, at 9:00 a.m. Central Time to discuss its second-quarter 2021 financial results. The earnings report will be released prior to market opening. Participants can join via a US dial-in number (888-204-4368) or an international number (400-120-9101), using conference ID 9915304. The call will also be broadcasted live on Xcel's website and available for replay after the event. For further inquiries, financial analysts can contact Paul Johnson, Vice President - Treasurer & Investor Relations.

Xcel Energy announces Paul Johnson as the new Treasurer, elevating him from his current role as Vice President of Investor Relations. This shift comes as the current Treasurer, Sarah Soong, departs for a role in healthcare insurance. Brian Van Abel, Xcel Energy's CFO, highlights the importance of strategic succession planning and the creation of synergies by combining Treasury and Investor Relations teams. Johnson's extensive experience and established relationships with credit agencies and investors are expected to enhance the company's leadership and operational performance.

Xcel Energy reported progress in achieving its carbon reduction goals while maintaining low customer bills amid challenges from COVID-19 and economic downturns. The company aims for 100% carbon-free electricity by 2050, achieving a 51% reduction since 2005. Key initiatives include reducing water consumption by 70% by 2030 and supporting 1.5 million electric vehicles. Since 2013, customer bills have increased below inflation, and Xcel committed $643 million to diverse suppliers in 2020, enhancing its focus on social equity.

Xcel Energy Inc. (NASDAQ: XEL) has declared a quarterly dividend of 45.75 cents per share, payable on July 20, 2021 to shareholders on record as of June 15, 2021. The company serves approximately 3.7 million electricity and 2.1 million natural gas customers across eight states in the U.S. Xcel Energy emphasizes its focus on providing reliable energy solutions while addressing potential risks as outlined in its Annual Report on Form 10-K.

Xcel Energy announced that Ben Fowke will retire as CEO on Aug. 18, 2021, but will stay on as executive chairman of the Board. Bob Frenzel, who has been with the company since 2016 and currently serves as president and COO, has been appointed as the new CEO and president. Frenzel is recognized for his operational and financial expertise and is tasked with continuing the company's strategic priorities and stakeholder engagement.

Xcel Energy (NASDAQ: XEL) will hold its 2021 Annual Meeting of Shareholders virtually on May 19, 2021, at 11:00 a.m. CT. Shareholders recorded by March 22, 2021, can attend online at www.virtualshareholdermeeting.com/XEL2021 and vote via www.proxyvote.com. Technical support will be available for access issues. For those without internet, a toll-free number will allow participation in the proceedings. Further details can be found in Xcel Energy's 2021 Notice of Annual Meeting and Proxy Statement.

Xcel Energy reported a robust performance for Q1 2021, achieving GAAP earnings of $362 million or $0.67 per share, up from $295 million or $0.56 per share in Q1 2020. This growth was primarily driven by increased electric and natural gas margins, despite higher depreciation and interest expenses. The company reaffirmed its annual earnings guidance and marked a significant milestone with a 51% reduction in carbon emissions since 2005. Their proposed Colorado Clean Energy Plan aims to enhance renewable energy by 5,000 megawatts and targets an 85% reduction in carbon emissions by 2030.