Xcel Energy Inc.'s Stock Analysis

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

Xcel Energy Subsidiary Requests Significant Rate Increases for 2026-2027

Northern States Power Company-Wisconsin, a subsidiary of Xcel Energy, has filed a request with the Public Service Commission of Wisconsin for a multi-year increase in electric and natural gas rates. The proposal includes a total electric revenue increase of $151 million over 2026 and 2027, with specific increases of $94 million (11.8%) in 2026 and $57 million (7.1%) in 2027. For natural gas, the request totals $24 million, comprising $20 million (12.7%) in 2026 and $4 million (1.5%) in 2027. The requests are based on projected rate bases of $2.9 billion for electric and $0.3 billion for natural gas in 2026, and $3.2 billion and $0.4 billion, respectively, in 2027.

The Public Service Commission staff has recommended a higher electric base rate increase of $115 million (14.4%) and a natural gas increase of $21 million (12.3%) over the same period, based on a lower return on equity of 9.7%. Key components of the staff's recommendation include adjustments for pending capital investments associated with two transmission projects. A decision from the PSCW is expected in late fourth quarter 2025, with procedural milestones including rebuttal testimony by August 28, 2025, and a hearing on September 16, 2025.

Aug 11, 2025 13:49:23

Xcel Energy Announces $4 Billion Equity Distribution Agreement

Xcel Energy has entered into an equity distribution agreement with multiple financial institutions, allowing the company to offer and sell shares of its common stock valued up to $4 billion. This agreement includes provisions for sales agents to act on behalf of Xcel Energy, as well as forward sale agreements that enable the company to sell shares through forward transactions. The shares will be sold at market prices or negotiated prices, with commissions not exceeding 1% of the sales price per share.

The equity distribution agreement allows Xcel Energy to conduct transactions through various methods, including at-the-market offerings on the Nasdaq Stock Market. The company will receive net proceeds from these sales after deducting commissions and associated costs. All shares offered will be registered under a previously filed registration statement with the SEC, and a prospectus supplement has been filed to facilitate the share offering.

Aug 01, 2025 19:23:41

Xcel Energy Reports Q2 2025 Earnings and Financial Performance

Xcel Energy reported second quarter 2025 earnings of $444 million, or $0.75 per share, compared to $302 million, or $0.54 per share in the same period of 2024. The increase in earnings per share was primarily due to the recovery of infrastructure investments, despite higher operational and interest expenses. Year-to-date ongoing earnings per share also rose to $1.59 from $1.42 in 2024. The company reaffirmed its ongoing earnings per share guidance for 2025 to be between $3.75 and $3.85.

The company is actively investing in new generation capacity to meet rising electric demand and enhance system resilience, particularly in Texas and New Mexico where it proposed nearly 5,200 MW of new generation. Xcel Energy's capital structure remains strong, with committed credit facilities available to support liquidity needs. The company also reported an increase in operational expenses and interest charges, largely linked to higher debt levels and costs associated with infrastructure investments.

Jul 30, 2025 17:45:22

Xcel Energy Appoints Ryan Long as Chief Legal Officer

Xcel Energy has appointed Ryan Long as the executive vice president and chief legal and compliance officer, effective immediately. Long, who previously served as president of Xcel Energy's operations in Minnesota, North Dakota, and South Dakota, will now oversee the company's legal, compliance, and federal affairs teams. He has a background in law and leadership, having held various positions within the company since joining as a principal attorney in 2015.

In addition to his new role, Long will continue to manage the Minnesota, North Dakota, and South Dakota operations while the company searches for a new president for that division. His prior experience includes serving as interim general counsel and working with major law firms in Minneapolis and New York City. This leadership change may have implications for Xcel Energy's strategic direction and operational management.

Jun 16, 2025 16:59:17

XCEL Energy Secures $2 Billion Credit Facility Agreement

XCEL Energy Inc. has entered into a Fifth Amended and Restated Credit Agreement, securing a revolving credit facility worth $2 billion. This agreement includes provisions for a $100 million sub-facility for Letters of Credit and a $75 million sub-facility for Swingline Loans, aimed at providing flexible funding options for the company.

The agreement involves several major financial institutions, with JPMorgan Chase Bank, N.A. serving as the Administrative Agent. The new terms will replace the Original Credit Agreement, allowing XCEL Energy to access the extended credit under specified conditions. This credit facility may influence the company’s financial stability and operational capacity moving forward.

May 07, 2025 16:15:45