Xcel Energy IncNasdaq: XEL
Utilities · Multi-Utilities
$78.07
-2.66%
Vol: 434K
Research Digest
Monday, June 15, 2026
No significant overnight updates
No material news in the last 48 hours.
Previous Market Intelligence
13 daysJun 14No significant overnight updatesNeutral▶
No material news in the last 48 hours.
May 21Xcel Energy declared $0.5925 quarterly dividend and held annual meeting on May 20 as crews restored power to all customers hit by the Stinky/Landfill Fire.Positive▶
Xcel Energy's board declared a quarterly dividend of $0.5925 per share on May 20, 2026, payable July 20 to shareholders of record June 15. Also on May 20, crews completed power restoration to all neighborhoods affected by the Stinky/Landfill Fire northwest of Amarillo, with some customer-side damage still requiring electrician work. The Annual General Meeting was held the same day. Mizuho raised its target to $94 from $86 (Outperform), while JPMorgan trimmed to $91 from $94 and Truist to $92 from $95 earlier in May. Q1 ongoing EPS of $0.91 was supported by a 15-year Google data center contract that backs $7B+ of incremental investment, with 2026 EPS guidance reaffirmed at $4.04-$4.16.
May 20Xcel Energy holds its 2026 annual shareholder meeting on May 20, 2026 with a director slate, say-on-pay vote, and Deloitte ratification on the ballot.Mixed▶
Xcel Energy is holding its virtual 2026 annual shareholder meeting on May 20, 2026, asking shareholders to vote on three items: electing 10 directors, an advisory say-on-pay vote, and ratifying Deloitte & Touche as auditor for 2026. Xcel Energy also announced it will begin construction this summer on a new natural gas peaking plant in southwest Minnesota to support grid reliability when renewables are unavailable. On May 14, 2026, JPMorgan lowered its price target to $91 from $94 and Truist lowered to $92 from $95, while Mizuho raised its target to $94 from $86 (Outperform). Shares traded at $77.92 on May 17 versus a previous close of $80.03, indicating recent weakness despite reaffirmed 2026 EPS guidance of $4.04-$4.16. Risk: continued analyst target cuts and regulatory uncertainty on $60B grid/clean energy buildout could pressure shares.
May 19Xcel Energy drew multiple analyst price-target cuts in mid-May after mixed Q1 results and regulatory uncertainty in Minnesota and South Dakota.Negative▶
Xcel reported Q1 2026 EPS of $0.91 and reaffirmed 2026 guidance, but several analysts cut targets in May: Truist to $92 from $95 (May 14), JPMorgan to $91 from $94 (May 12), Barclays to $87 from $91 (May 12); Evercore ISI raised to $96 from $93 on May 2. Minnesota gas settled at a reduced $38M revenue increase; South Dakota approved $25.6M (9.5%) hike with a rate moratorium through 2029. Stock trades at $77.92 vs. $89.33 average PT. Bear case: rate-case affordability pressure may constrain capex recovery and growth financing.
May 18No significant overnight updatesNeutral▶
No material news in the last 48 hours.
May 15Xcel Energy reached a Minnesota gas rate settlement on May 8 trimming revenue ask to $38M, while JP Morgan cut its price target to $91 on May 14.Mixed▶
On May 8, 2026, Xcel Energy and intervenors reached a non-unanimous settlement in the Minnesota natural gas rate case, trimming the requested revenue increase from $62M to $38M while raising weighted average cost of capital to 7.21% (from 7.16%). On May 14, JP Morgan analyst Jeremy Tonet maintained Overweight but lowered the target to $91 (from $94); on May 1, Mizuho raised its target to $94 (from $86) with Outperform. Q1 2026 net income was $556M with ongoing EPS of $0.91 (up from $0.84); revenue of $4.02B missed the $4.21B estimate. FY26 EPS guidance of $4.04-$4.16 reaffirmed. Shares closed $79.94 on May 14. The May 20 annual meeting will vote on 10 directors, say-on-pay and Deloitte. Risk: Smokehouse Creek wildfire litigation overhang and $2.5B equity dilution.
May 14Xcel Energy reached a partial Minnesota gas settlement on May 8 trimming requested revenue increase to $38M while lifting WACC to 7.21%, with the 2026 annual meeting set for May 20.Mixed▶
On May 8, 2026, Xcel Energy and certain intervenors reached a non-unanimous partial settlement in the Minnesota natural gas rate case, trimming the requested revenue increase to $38 million and lifting the weighted average cost of capital to 7.21% from 7.16%. The company's 2026 annual meeting is scheduled for May 20, where shareholders will vote on 10 directors, say-on-pay, and ratification of Deloitte. Q1 2026 ongoing EPS rose to $0.91 and the company reaffirmed full-year ongoing EPS guidance of $4.04-$4.16. Xcel signed a 15-year clean energy contract with Google for 1,900 MW of wind, solar and long-duration storage, projecting $1B-$1.5B in customer savings. The $60B 2026-2030 capital plan adds 1,900 MW storage, 3,000 MW gas generation, and 7,500 MW renewables. Mizuho raised its PT to $94 from $86 (Outperform) on May 1; Wall Street Zen downgraded to Sell on May 9. Dividend raised 4% to $2.37/share in 2026.
May 13Xcel Energy restored power to over 5,000 Denver customers on May 12 after a Capitol Hill outage, while regulatory and rate-case pressure continues to mount in Colorado and Minnesota.Mixed▶
On May 12, 2026, Xcel Energy restored power for more than 5,000 customers in Denver's Capitol Hill neighborhood following an outage. The utility remains under regulatory pressure: it is contesting a Colorado plan to curb rising rates, and the Colorado PUC will hear public comment on Xcel's $355 million annual revenue rate increase request on May 19 and June 16; if approved in full, cumulative bill increases would reach 33% since 2023. PUC staff and the Office of the Utility Consumer Advocate have recommended approving only half or less of the requested hike. Separately, on May 7 the Minnesota PUC sided with Attorney General Ellison and ordered Xcel to refund $40.6 million plus interest tied to replacement-power costs from the 2023 Prairie Island nuclear plant outage. Mizuho recently raised its price target to $94.
May 12Xcel Energy posts Q1 EPS $0.89 (up 6%); 15-year Google data center deal; Minnesota gas rate settlementPositive▶
Xcel Energy reported Q1 2026 EPS of $0.89 (up from $0.84), revenue of $4.02 billion (+2.9%) and net income of $556 million (+15%). The company reaffirmed 2026 EPS guidance of $4.04–$4.16. A new 15-year clean-energy contract with Google for 1,900 MW supports $7+ billion of incremental investment and is projected to deliver $1–1.5B in customer savings. Northern States Power-Minnesota reached a non-unanimous settlement on its 2025 natural gas rate case, trimming the requested revenue increase to $38 million with a 7.21% WACC. Minnesota also approved a new 420-MW Lyon County gas peaking plant. XEL raised the dividend 4% to $2.37.
May 11Xcel faces $40.6M Minnesota customer refund order and contested Colorado $355M rate hike; analysts raise PTsMixed▶
On May 8, Minnesota AG Keith Ellison announced Xcel will refund $40.6M plus interest to MN electric customers after the PUC ordered the company to refund replacement power costs from a 2023 outage Xcel was responsible for. Separately, the Colorado PUC is reviewing Xcel's $355M annual revenue request, which would push electric bills 33% higher since 2023; PUC staff and the consumer advocate recommend approving half or less, with public hearings May 19 and June 16. A spring snowstorm knocked out power to 40,000+ Colorado customers on May 6. On valuation, Evercore ISI raised its PT to $96 from $93 and Mizuho raised to $94 from $86. Xcel established a $4.3B equity distribution program. Shares closed near $79.39 on May 8.
May 8Xcel Q1 beats; faces New Mexico rate case headwind, Google data center upsideMixed▶
Xcel Energy reported Q1 2026 earnings of $0.91 per share, beating prior-year $0.84, driven by electric infrastructure investment recovery and sales growth despite unseasonably warm weather. Company reaffirmed 2026 EPS guidance of $4.04–$4.16. Major 15-year Google data center contract supports $7B+ incremental investment. However, Xcel faces regulatory challenge to New Mexico rate increase. Spring snowstorm caused 55,000+ customer outages on May 6. Board declared quarterly dividend of $0.57 per share. Evercore ISI raised price target to $96 from $93 on May 4. Stock at $80.43 offers 19% upside to analyst target. Mixed sentiment reflects growth catalysts balanced against regulatory headwinds and recent weather disruptions.
May 7Xcel Energy Q1 FY26 EPS of $0.91; affirms guidance and raises dividend as Google data center deal pending approvalPositive▶
Xcel Energy reported Q1 2026 GAAP EPS of $0.89 vs $0.84 prior year on strong electric revenues and infrastructure investment. Affirmed FY26 guidance of $4.04-$4.16 EPS. Company advancing $900M+ in base rate increases across multiple state cases; settled North Dakota case with $27M revenue increase. Board raised quarterly dividend to $0.5925 from $0.57. Google data center agreement pending regulatory approval; infrastructure investment will support $7B+ incremental investment. 12 analysts rate Buy with $89 PT (8.1% upside).
May 6Xcel Energy Q1 2026 ongoing EPS rises to $0.91; board raises dividend; natural gas plant approvedPositive▶
Xcel Energy reported Q1 2026 ongoing EPS of $0.91 driven by higher electric revenues and infrastructure investment. Board raised quarterly dividend to 59.25 cents per share. Company reaffirms 2026 EPS guidance of $4.04-$4.16. Received approval for 420-MW Lyon County natural gas peaking plant in Minnesota with construction starting summer 2026. Company plans to deploy 2.1 GW of wind, solar and battery resources in 2026. Evercore ISI raised PT to $96 from $93 on May 2. Google data center deal supports $7+ billion incremental investment. Analyst consensus is Buy with PT of $89, implying 8.1% upside. Key risks include regulatory headwinds and renewable energy market dynamics.
Sector Peers
| Company | Price | Day | 1M | Fwd P/E | Beta | Mkt Cap |
|---|---|---|---|---|---|---|
| NEENEXTERA | $85.63 | -4.53% | +0.7% | 20.4x | 0.72 | $187.1B |
| DDOMINION | $67.91 | -0.56% | +1.1% | 17.9x | 0.64 | $60.1B |
| SRESEMPRA | $91.59 | +0.04% | +1.5% | 16.5x | 0.60 | $59.8B |
| XELXCEL | $78.07 | -2.66% | +2.7% | 17.7x | 0.42 | $50.1B |
| EDCONSOLIDATED | $107.61 | +0.19% | +0.8% | 16.6x | 0.29 | $39.6B |
| PCGP | $16.47 | +0.16% | +3.7% | 9.1x | 0.29 | $36.2B |
Key Fundamentals
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