Xcel Energy Inc.'s Stock Analysis

Xcel Energy Subsidiary Seeks $190 Million Rate Increase in Colorado

Public Service Company of Colorado (PSCo), a subsidiary of Xcel Energy Inc., has filed a natural gas rate case with the Colorado Public Utilities Commission seeking a revenue increase of $190 million, which represents an 11.6% rise. This request is based on a proposed return on equity of 10.75%, an equity ratio of 55%, and a projected rate base of $4.7 billion for the year 2025. A decision from the CPUC regarding this request is expected in the third quarter of 2026.

The filing indicates that various factors could impact the actual outcomes of the rate case, including operational safety, regulatory changes, economic conditions, and market risks. The document highlights potential uncertainties that may affect PSCo's ability to recover costs and maintain favorable financing conditions, which are critical for investors to consider as they evaluate the company's future performance and stock price stability.

Jan 02, 2026 09:36:41

Xcel Energy Elects New Director Maria Demaree to Board

Xcel Energy has elected Maria Demaree to its Board of Directors, effective December 17, 2025. Demaree brings over 30 years of experience from Lockheed Martin, where she held various leadership roles, including Senior Vice President and Chief Information Officer. She will serve on the Audit Committee and the Operations, Nuclear, Environmental and Safety Committee. The Board has increased its membership from 11 to 12 directors to accommodate her appointment.

Demaree's compensation will align with that of other non-employee directors at Xcel Energy, with her pay prorated from the start of her service until the 2026 Annual Meeting of Shareholders. There are no reported transactions or relationships that could pose a conflict of interest. Her expertise in technology and innovation is expected to enhance Xcel Energy's capabilities as the company continues to focus on digital transformation and improving service delivery.

Dec 17, 2025 16:09:17

Xcel Energy Initiates Cash Tender Offers for $345 Million Bonds

Xcel Energy Inc. has announced three separate cash tender offers to purchase up to $345 million in aggregate principal amount of certain outstanding first mortgage bonds issued by its subsidiary, Northern States Power Company. The offers will expire on December 19, 2025, unless extended, and holders of the bonds can withdraw their tenders before this date. Those whose bonds are accepted will receive cash payments for the bonds and accrued interest on the settlement date, expected to be December 24, 2025.

The tender offers are subject to specific conditions, including a maximum purchase amount and acceptance priority levels for the bonds. Xcel Energy reserves the right to waive conditions or terminate the offers if certain criteria are not met. Investors are advised to review the Offer to Purchase for detailed instructions and conditions before deciding whether to participate in the tender offers.

Dec 15, 2025 09:24:43

Xcel Energy Seeks $356 Million Rate Increase in Colorado

On November 21, 2025, Public Service Company of Colorado (PSCo), a subsidiary of Xcel Energy Inc., filed an electric rate case with the Colorado Public Utilities Commission. The company is requesting a revenue increase of $356 million, or 9.9%, which includes a rider recovery for costs associated with extending operations at Comanche Unit 2. The proposed rate increase is based on a 9.8% return on equity and an equity ratio of 55%, with a projected rate base of $13 billion for 2025.

A decision from the Colorado Public Utilities Commission regarding this rate case is expected in the third quarter of 2026. The filing highlights various risks and uncertainties that could affect the company's financial performance, including regulatory changes, economic conditions, and operational challenges. Investors should consider these factors as they may impact the company's revenue and overall market position.

Nov 24, 2025 08:10:52

Xcel Energy Subsidiary Seeks $175 Million Rate Increase Approval

Southwestern Public Service Company (SPS), a wholly owned subsidiary of Xcel Energy, has filed for a $175 million increase in base rate revenue with the New Mexico Public Regulation Commission. This request, representing a 16.7% increase, is based on a future test year ending November 30, 2027, and includes a return on equity of 10.5% and an equity ratio of 56%. The increase is attributed to significant retail revenue growth and ongoing capital investments to support clean energy initiatives.

A decision from the New Mexico Public Regulation Commission is expected in the fourth quarter of 2026 regarding the proposed rate increase. The filing highlights the company’s plans to manage retail load, including a roll-off of 100 megawatts of wholesale load in 2026. Various risks and uncertainties that could impact the outcome of the rate case and the company's financial performance are also acknowledged, including regulatory changes and economic conditions.

Nov 20, 2025 18:45:31

Xcel Energy Subsidiary Requests Rate Increase for Electric and Gas

Northern States Power Company-Wisconsin (NSP-Wisconsin), a subsidiary of Xcel Energy, has filed a request with the Public Service Commission of Wisconsin for a multi-year rate increase for electric and natural gas services. The request includes a proposed $126 million increase for electric utility rates and a $22 million increase for natural gas utility rates, based on projections for 2026 and 2027. A verbal decision was communicated by the PSCW on November 6, 2025, and a final order is anticipated in December 2025, with new rates expected to take effect in January 2026.

The rate increase request is based on a return on equity of 9.8% and an equity ratio of 52.5%. Additionally, a recent reduction in the annual nuclear decommissioning accrual, authorized by the Minnesota Public Utilities Commission, has adjusted the rate request downward without affecting earnings. The final decision may be influenced by various factors including operational safety, regulatory changes, economic conditions, and the company's ability to recover costs.

Nov 07, 2025 16:32:04

Xcel Energy Reports Q3 2025 Earnings and Guidance Updates

Xcel Energy announced its third quarter 2025 earnings, reporting GAAP diluted earnings per share of $0.88, down from $1.21 in the same quarter of 2024. Year-to-date GAAP diluted earnings per share also decreased to $2.47 from $2.63 in 2024. However, ongoing diluted earnings per share for the third quarter remained relatively stable at $1.24 compared to $1.25 in the prior year, with year-to-date ongoing earnings increasing to $2.84 from $2.69. The company cited higher depreciation, interest charges, and operational expenses as contributing factors to the changes in earnings, while also noting increased recovery from infrastructure investments.

In addition to the earnings report, Xcel Energy reaffirmed its ongoing earnings per share guidance for 2025 at $3.75 to $3.85 and introduced a new guidance range for 2026 of $4.04 to $4.16. The company emphasized its long-term growth objectives, targeting 6-8% annual earnings per share growth and 4-6% dividend growth. Xcel Energy's infrastructure investment plan aims to meet rising energy demand and support carbon reduction goals, with a focus on modernizing and expanding its energy infrastructure while maintaining competitive customer billing rates.

Oct 29, 2025 17:35:27

Xcel Energy Issues $900 Million in Junior Subordinated Notes

On October 7, 2025, Xcel Energy Inc. issued $900 million in 6.25% Junior Subordinated Notes due in 2085. This issuance was conducted under an Underwriting Agreement with several financial institutions, including BofA Securities and J.P. Morgan Securities, among others.

The notes were issued under a registration statement filed with the Securities and Exchange Commission on September 29, 2025. They will be governed by a Junior Subordinated Indenture and a Supplemental Indenture, with U.S. Bank Trust Company serving as the trustee.

Oct 07, 2025 10:57:00

Xcel Energy Settles $640 Million Marshall Fire Litigation Claims

Xcel Energy, through its subsidiary Public Service Company of Colorado (PSCo), has reached settlement agreements in principle to resolve litigation related to the Marshall Fire that occurred in December 2021. The settlements will cover claims from subrogation insurers, public entity plaintiffs, and individual plaintiffs, with PSCo expected to pay approximately $640 million. Of this amount, around $350 million will be covered by existing insurance, while PSCo anticipates recognizing a charge of approximately $290 million to its earnings for the third quarter of 2025.

Despite the settlements, Xcel Energy maintains that its equipment did not cause the fire and does not admit any fault. The company reaffirms its ongoing earnings per share guidance for 2025, projecting between $3.75 and $3.85. Additionally, Xcel Energy has committed to enhancing wildfire risk mitigation and grid resilience, particularly in Boulder County, as part of its broader strategy to support the communities it serves.

Sep 24, 2025 14:10:28

Xcel Energy Seeks $491 Million Rate Increase in Minnesota

Xcel Energy's subsidiary, Northern States Power Company-Minnesota, has filed for a rate increase of $491 million, representing a 13.2% revenue boost over two years. The request is based on a return on equity of 10.3%, with a rate base of $13.2 billion in 2025 and $14 billion in 2026. An interim rate of $224 million was initially requested but later adjusted to $192 million by the Minnesota Public Utilities Commission, effective January 1, 2025. The company updated its revenue request to $473 million in March 2025.

Various stakeholders, including the Minnesota Department of Commerce and Walmart, have proposed adjustments to the rate request, citing concerns over the return on equity and operational costs. The procedural timeline includes rebuttal testimony due by October 10, 2025, with a decision from the Minnesota Public Utilities Commission expected in the third quarter of 2026. The filing also highlights operational risks and uncertainties that could affect future financial performance.

Aug 25, 2025 14:36:36