Xcel Energy Inc Stock Price, News & Analysis

Xcel Energy (NASDAQ: XEL) will hold a conference call on April 29, 2021, at 9:00 a.m. Central Time to discuss its first quarter 2021 financial results. Earnings will be released before the market opens. Participants are encouraged to dial in 5-10 minutes prior to the start time using ID 7731118. The call will be available for live broadcast and archived on Xcel Energy's website. A replay will be accessible from 12:00 p.m. on April 29 until 12:00 p.m. on May 2, 2021.

Xcel Energy – Colorado has unveiled its Clean Energy Plan, targeting an 85% reduction in carbon dioxide emissions by 2030, surpassing state requirements. The initiative aims to double renewable energy and battery storage, ensuring that 80% of electricity comes from renewable sources while maintaining affordability. Key elements include adding 5,500 MW of renewable generation, reducing coal operations, and enhancing grid reliability. The plan anticipates minimal impact on customer bills, with increases aligning with inflation. Xcel will present this plan to the Colorado Public Utilities Commission next month.

Xcel Energy has achieved a significant milestone in its commitment to 100% carbon-free electricity by 2050, marking the second consecutive year of major progress. In 2020, the company reduced carbon emissions by approximately six million tons, a 12% decline from 2019, equivalent to removing nearly 1.2 million cars from the road. Since 2005, Xcel has cut emissions by 51%, outpacing the electric power sector's overall reduction. The growth in wind energy capacity, with over 2,200 megawatts added in 2020, plays a crucial role in these reductions while providing $430 million in fuel savings for customers.

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.