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. reports developments for a regulated electric and natural gas utility serving customers across eight Western and Midwestern states. News commonly covers GAAP and ongoing earnings, dividend declarations, recovery of infrastructure investments, electric sales trends, operating expenses and financing-related updates.
The company’s recurring updates also address clean-energy and grid projects, large-load customer service, generation and transmission planning, and technology and security modernization. Xcel Energy operates through regulated utility companies that include Northern States Power, Public Service Company of Colorado and Southwestern Public Service Company, with business activity tied to electricity delivery, natural gas service, renewable energy resources and state utility regulation.
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#.
Xcel Energy has made significant strides in reducing carbon emissions, achieving a 54% reduction from 2005 levels in its electricity supply. The company's 19th annual Sustainability Report highlights its goal to provide 100% carbon-free electricity by 2050 and an 80% reduction in carbon emissions by 2030. In 2023, carbon-free energy constituted 50% of Xcel's energy mix, surpassing the national average of 41%. Additionally, the company cut sulfur dioxide and nitrogen oxides emissions by 83% and 85%, respectively.
Xcel Energy has excelled in service reliability, with 98% of customers having power restored within 24 hours during major storms. The company also offers some of the lowest residential electric bills in the U.S., 28% below the national average. New wind and solar projects have saved customers $4 billion from 2017 to 2023.
The report also highlights job creation, with 1,400 new jobs and $2.3 billion in capital investment in 2023. Xcel Energy spent $3.6 billion with local businesses and $1.3 billion with small and diverse suppliers. The company has also invested in community programs, including $187 million in assistance for energy bills and $15.3 million in charitable donations.
The Board of Directors of Xcel Energy (NASDAQ: XEL) has declared a quarterly dividend of 54.75 cents per share on its common stock.
The dividend will be payable on July 20, 2024, to shareholders of record as of June 14, 2024.
Xcel Energy operates in 8 Western and Midwestern states, serving 3.8 million electricity customers and 2.2 million natural gas customers through its regulated operating companies.
Xcel Energy's headquarters are in Minneapolis.