Xcel Energy Inc.
- Open
- 75.94
- Day high
- 76.10
- Day low
- 75.68
- Prev close
- 75.51
- Volume
- 206K
- Mkt cap
- $47.3B
- P/E (TTM)
- 20.7
- EPS (TTM)
- $3.67
- P/B
- 2.0
- P/S
- 3.2
- Yield
- 1.56%
- Per share
- $1.19
Xcel Energy Inc. (XEL) is a Utilities company listed on NASDAQ. The stock is up 4% over the past year. Drillr has 1 published research article covering XEL.
Xcel Energy Inc. (XEL) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 6 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
XEL earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Jul 30, 2026 | $0.79 | $0.93 | +17.6% | $3.1B | -12.0% |
| Apr 30, 2026 | $0.91 | $0.91 | +0.3% | $4.0B | -4.5% |
| Feb 5, 2026 | $0.96 | $0.96 | +0.1% | $3.6B | -1.3% |
| Oct 30, 2025 | $1.32 | $1.24 | -6.1% | $3.9B | +0.9% |
| Jul 31, 2025 | $0.64 | $0.75 | +16.6% | $3.3B | +2.7% |
| Apr 24, 2025 | $0.92 | $0.84 | -8.8% | $3.9B | -0.1% |
| Feb 6, 2025 | $0.88 | $0.81 | -7.6% | $3.1B | -16.7% |
| Oct 31, 2024 | $1.26 | $1.25 | -1.0% | $3.6B | -6.4% |
| Aug 1, 2024 | $0.57 | $0.54 | -5.3% | $3.0B | -7.0% |
| Apr 25, 2024 | $0.78 | $0.88 | +12.7% | $3.6B | -11.2% |
| Jan 25, 2024 | $0.85 | $0.87 | +2.7% | $3.4B | -14.2% |
| Oct 27, 2023 | $1.27 | $1.23 | -3.1% | $3.7B | -8.9% |
XEL insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jul 31, 2026 | Carter Peter Wdirector | Grant | 1,819 | — |
| Jun 30, 2026 | Welsh Timothy Adirector | Grant | 468 | — |
| Jun 30, 2026 | Casey Lynndirector | Grant | 493 | — |
| Jun 30, 2026 | KAMPLING PATRICIA Ldirector | Grant | 608 | — |
| Jun 30, 2026 | Burkhart Megan Ddirector | Grant | 584 | — |
| Jun 30, 2026 | Pardee Charles Gdirector | Grant | 541 | — |
| May 22, 2026 | Burkhart Megan Ddirector | Grant | 2,254 | — |
| May 22, 2026 | Hutchinson Maria Demareedirector | Grant | 2,254 | — |
| May 22, 2026 | Stockfish Devin Wdirector | Grant | 2,254 | — |
| May 22, 2026 | Casey Lynndirector | Grant | 2,254 | — |
| May 22, 2026 | Kehl George Jdirector | Grant | 2,254 | — |
| May 22, 2026 | Johnson Netha N.director | Grant | 2,254 | — |
| May 22, 2026 | Pardee Charles Gdirector | Grant | 2,254 | — |
| May 22, 2026 | KAMPLING PATRICIA Ldirector | Grant | 2,254 | — |
| May 22, 2026 | Welsh Timothy Adirector | Grant | 2,254 | — |
Source: XEL SEC Form 4 filings, latest Jul 31, 2026. For informational purposes only — not investment advice.
See the full XEL insider & 13F page →Xcel Energy Inc. company profile
Overview
Xcel Energy Inc. (NASDAQ:XEL) is a major regulated electric and natural gas utility company founded in 1909 and headquartered in Minneapolis, Minnesota. The company serves approximately 3.7 million electric customers and 2.1 million natural gas customers across eight states in the upper Midwest and Southwest United States, including Colorado, Michigan, Minnesota, New Mexico, North Dakota, South Dakota, Texas, and Wisconsin. Xcel Energy has established itself as a leader in clean energy transition among regulated utilities, with ambitious carbon reduction goals and significant investments in renewable energy infrastructure.
Business
Xcel Energy operates as a regulated utility company providing essential energy services through three main business segments. The Regulated Electric Utility segment represents the company's primary business, generating approximately 85-90% of total revenues. This segment generates, purchases, transmits, distributes, and sells electricity to residential, commercial, and industrial customers. The company operates a diverse generation portfolio that includes coal, nuclear, natural gas, hydroelectric, solar, biomass, oil, wood/refuse, and wind energy sources. The Regulated Natural Gas Utility segment accounts for roughly 10-15% of revenues and involves purchasing, transporting, distributing, and selling natural gas to retail customers, as well as transporting customer-owned natural gas. This segment operates through an extensive pipeline network serving residential and commercial heating needs across the company's service territories. The All Other segment comprises a small portion of revenues and includes developing and leasing natural gas pipelines, storage and compression facilities, investing in rental housing projects, and procuring equipment for renewable generation facility construction. The utility industry operates under a regulated framework where companies are granted exclusive service territories in exchange for regulatory oversight of rates, service quality, and investment decisions by state public utility commissions.
Revenue model
Xcel Energy operates under a traditional regulated utility business model where the company earns returns on invested capital through rate-based revenues approved by state regulatory commissions. The primary revenue streams come from regulated electric and natural gas sales to customers based on usage and fixed monthly charges. Unlike competitive markets, utilities like Xcel Energy are granted monopolistic service territories but must have their rates approved through regulatory proceedings. The company's earnings are primarily driven by its rate base - the value of assets used to provide utility service - multiplied by an allowed return on equity typically ranging from 9-11%. This creates a business model where profitability increases through capital investments in infrastructure, generation assets, and grid modernization projects. Xcel Energy has outlined a $45 billion five-year capital investment plan focused on clean energy transition, customer electrification, new load growth, and safety improvements. Key factors that can increase margins include successful rate case outcomes, growing customer base and electricity demand, particularly from data centers which represent a significant growth opportunity with nearly 9,000 megawatts in the pipeline. The company also benefits from tax credit monetization through transferability provisions in the Inflation Reduction Act, expecting approximately $500 million in production tax credit sales. Factors that can pressure margins include regulatory disallowances of capital investments, commodity price volatility affecting fuel costs, increased wildfire liability risks, and the need for significant capital investments in grid modernization and clean energy transition. The company faces ongoing wildfire litigation exposure, particularly related to the Marshall Fire and Smokehouse Creek incidents, though current liability estimates remain within insurance coverage limits.
Competitive moat
Xcel Energy possesses a strong regulatory moat characteristic of regulated utilities through its exclusive franchise territories granted by state governments. This creates natural monopolies where the company faces no direct competition for electric and natural gas distribution services within its service areas. The regulatory framework provides predictable returns on invested capital while creating significant barriers to entry due to the massive infrastructure requirements and regulatory approval processes needed to serve utility customers. The company's moat is reinforced by its essential service nature - electricity and natural gas are critical infrastructure services with highly inelastic demand. Customers cannot easily substitute these services or switch providers, creating stable, recurring revenue streams. Additionally, Xcel Energy has built a strong regulatory relationship track record, having met or exceeded earnings guidance for 20 consecutive years, which enhances its credibility with regulators and supports future rate case approvals. However, the moat faces some challenges from the clean energy transition which requires massive capital investments with uncertain regulatory recovery, potential distributed generation adoption that could reduce customer demand, and increasing wildfire liability risks in certain service territories. The regulatory environment can also change, potentially affecting allowed returns or capital recovery. Competition may emerge from alternative energy sources, energy storage technologies, or changes in regulatory policy that could allow competitive providers in traditionally monopolistic markets. Despite these challenges, the fundamental infrastructure-based moat remains robust given the essential nature of utility services and high switching costs.
Risks & safety
Xcel Energy presents a moderate margin of safety profile typical of regulated utilities with some elevated risks from wildfire exposure and capital intensity. • Solvency and Liquidity: Current ratio of 0.80 indicates tight short-term liquidity, though this is common for utilities with predictable cash flows. Debt-to-equity ratio of 1.63 is elevated but manageable for a utility. Cash position of $1.1 billion provides adequate liquidity buffer. • Cash Flow: Strong operating cash flow of $4.6 billion annually supports dividend payments and capital investments. Free cash flow is negative at -$2.7 billion due to heavy capital expenditure program, requiring external financing. • Valuation Metrics: Trading at 19.6x P/E ratio and 2.0x book value, representing reasonable valuation for a utility with 6-8% earnings growth guidance. EV/EBITDA of 12.2x is within normal utility range. • Credit Profile: Investment-grade credit ratings support access to capital markets for funding growth investments. • Risk Factors: Wildfire liability exposure estimated at $290 million for Smokehouse Creek (within $500 million insurance coverage) and ongoing Marshall Fire litigation. Regulatory risk from $45 billion capital plan requiring approval across multiple jurisdictions.
Recent development
Over the past few years, Xcel Energy has undergone a significant strategic transformation focused on clean energy leadership and capital-intensive growth. The company has accelerated its decarbonization timeline, committing to be coal-free by 2030 and achieving 80% carbon reduction from 2005 levels. Major clean energy investments include the 710-megawatt Sherco solar project, conversion of the 1,000-megawatt Harrington coal plant to natural gas, and approval of a $4.8 billion clean energy portfolio in Colorado adding 5,800 megawatts of new generation. The company has pivoted toward capturing data center growth opportunities, building a pipeline of nearly 9,000 megawatts of potential data center load by 2030. Key partnerships include agreements with Meta and QTS, with expectations to sign contracts for approximately 25% of the high-probability pipeline by fall 2025. This represents a strategic shift from traditional 2-3% annual sales growth to projected 5% growth, with data centers contributing roughly half of the incremental demand. Wildfire risk mitigation has become a critical strategic focus following the Marshall Fire and Smokehouse Creek incidents. The company has implemented daily wildfire safety operations, proactive public safety power shutoff capabilities, expanded AI camera monitoring systems, and filed comprehensive wildfire mitigation plans in Colorado and Texas totaling $2.4 billion in investments. The company has also embraced financial innovation through tax credit transferability under the Inflation Reduction Act, monetizing approximately $500 million in production tax credits annually. The five-year capital plan has expanded to $45 billion, supporting 9.4% annual rate base growth and enabling the company to raise its long-term earnings growth guidance from 5-7% to 6-8%.
XEL company profile · for informational purposes only — not investment advice.
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