Xcel Energy
Regulated utility delivering electricity and natural gas across eight Western and Midwestern states.
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Profile
Generates, transmits and distributes electricity, and buys, stores and delivers natural gas, through regulated utilities across eight Western and Midwestern states. Revenue comes through regulator-approved rates that recover operating and infrastructure costs, with electric utility operations providing most of the business.
Generates, purchases, transmits, distributes and sells electricity through the Regulated Electric Utility segment, while the Regulated Natural Gas Utility segment buys, transports, stores, distributes and sells gas. Operating utilities serve parts of eight Western and Midwestern states, with electric service across the full footprint and gas service concentrated in part of the territory.
Pairs owned generation with purchased power and an extensive transmission network. The capital program expands wind, solar, battery storage and dispatchable generation while upgrading transmission, distribution and wildfire-resiliency systems to support reliability and rising demand.
Earnings depend on state utility commissions and federal regulators approving rates and cost recovery for long-lived infrastructure. Resource plans and major projects span multiple jurisdictions; severe weather, wildfire exposure, insurance limits and the timing of regulatory recovery remain structural dependencies.
Company facts
Categories
Key statistics
Year to date +2.4% · Average volume (30d) 4.6M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Rating | Prior target | Target |
|---|---|---|---|---|---|
| Aug 13, 2026 | Truist Financial | Target | $92 | $88 | |
| Jul 31, 2026 | BTIG | Reiterate | Buy | $98 | $99 |
| Jul 31, 2026 | Mizuho Securities | Target | $86 | $92 | |
| Jul 22, 2026 | BMO Capital | Reiterate | Outperform | $90 | $92 |
| Jul 9, 2026 | Barclays | Reiterate | Overweight | $87 | $90 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Jul 30, 2026Q2 FY26 | $0.79 | $0.93 | +17.7% | $3.54B | $3.12B | −12.0% | −0.66% |
| Apr 30, 2026Q1 FY26 | $0.91 | $0.91 | +0.3% | $4.21B | $4.02B | −4.5% | −0.45% |
| Feb 5, 2026Q4 FY25 | $0.96 | $0.96 | −0.2% | $3.63B | $3.56B | −1.8% | −0.29% |
| Oct 30, 2025Q3 FY25 | $1.32 | $1.24 | −6.1% | $3.89B | $3.92B | +0.6% | −0.51% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $3.91B | $3.29B | $3.92B | $3.56B | $4.02B | $3.12B | |
| Gross profit | $1.69B | $1.56B | $2.06B | $1.62B | $1.80B | $1.66B | |
| Operating income | $677.0M | $577.0M | $1.04B | $589.0M | $732.0M | $709.0M | |
| Net income | $483.0M | $444.0M | $524.0M | $567.0M | $556.0M | $586.0M | |
| Diluted EPS | $0.84 | $0.76 | $0.90 | $0.95 | $0.89 | $0.93 | |
| Gross margin | 43.1% | 47.4% | 52.6% | 45.5% | 44.9% | 53.1% | |
| Operating margin | 17.3% | 17.6% | 26.5% | 16.5% | 18.2% | 22.7% |
Fiscal years (4-quarter sums)FY21 $13.43B · FY22 $15.31B · FY23 $14.21B · FY24 $13.44B · FY25 $14.67B
Revenue by product · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $2.01B · Total debt $40.32B · Total assets $87.17B · Shareholders' equity $24.06B
Dividends
Raised for 22 straight years — most recently to $0.5925 from $0.57 in Mar 2026. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Jun 15, 2026 | Jun 15 | Jul 20 | $0.5925 | |
| Mar 13, 2026 | Mar 13 | Apr 20 | $0.5925 | raised from $0.57 |
| Dec 29, 2025 | Dec 29 | Jan 20 | $0.57 | |
| Sep 15, 2025 | Sep 15 | Oct 20 | $0.57 | |
| Jun 13, 2025 | Jun 13 | Jul 20 | $0.57 | |
| Mar 14, 2025 | Mar 14 | Apr 20 | $0.57 | raised from $0.5475 |
| Jan 6, 2025 | Jan 6 | Jan 20 | $0.5475 | |
| Sep 13, 2024 | Sep 13 | Oct 20 | $0.5475 |
Ownership
A 13F quarter can total more than the shares outstanding — sub-advisers file the same block twice, and a filer's own share count can be a quarter stale. No split is drawn from it.
Shares outstanding 624.63M · Float 623.00M · 99.7% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 60.90M | 9.75% | 13F | Aug 7, 2026 |
| Vanguard Capital Management LLC | 40.77M | 6.53% | 13F | Aug 13, 2026 |
| State Street Corp | 38.90M | 6.23% | 13F | Aug 7, 2026 |
| Vanguard Portfolio Management LLC | 35.61M | 5.70% | 13F | Aug 13, 2026 |
| Bank of America Corp /DE/ | 29.93M | 4.79% | 13F | Aug 14, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Mar 2, 2026 | Amanda J. Rome | officer: EVP, Group President, Utilitie | −15,969 | $83.61 |
| Mar 4, 2026 | Ryan J. Long | officer: EVP, Chief Legal and | −800 | $82.91 |
Peers
- NextEra Energy
The benchmark regulated IOU for clean-energy execution and rate-base growth.
- Duke Energy
Largest regulated US capital plan; direct peer on rate-base growth.
- Southern Company
Major regulated IOU with 8% electric load growth; capital-market peer for XEL.
- American Electric Power
Nation's largest transmission network; 10% rate-base CAGR capital rival.
- WEC Energy Group
Closest geographic peer; shares WI/MN territory and Wisconsin PSC rate forum.
- Alliant Energy
Iowa/Wisconsin IOU sharing the Wisconsin PSC forum and Midwest wind buildout.
- Dominion Energy
East Coast regulated IOU with $50B capex; capital-market peer for XEL.
- DTE Energy
Michigan regulated IOU; matched revenue scale and parallel clean-energy pivot.
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Xcel Energy | $76.26 | −0.25% | $47.75B | 20.8 | 18.0 | 3.3 | −5.1% |
| NextEra Energy | $81.84 | +0.02% | $170.72B | 18.3 | 19.9 | 5.9 | +12.5% |
| Duke Energy | $120.20 | −0.02% | $93.75B | 18.1 | 17.7 | 2.8 | +1.1% |
| Southern Company | $92.05 | +4.32% | $101.52B | 21.3 | 18.9 | 3.4 | +0.1% |
| American Electric Power | $125.76 | +2.84% | $66.59B | 21.2 | 18.4 | 3.0 | +7.0% |
| WEC Energy Group | $106.22 | +0.01% | $34.60B | 20.6 | 19.9 | 3.4 | +2.6% |
| Alliant Energy | $68.03 | +0.01% | $17.57B | 21.5 | 19.4 | 4.0 | +1.0% |
| Dominion Energy | $65.52 | −0.02% | $57.63B | 22.8 | 17.1 | 3.1 | +17.6% |
| DTE Energy | $135.86 | +0.03% | $28.27B | 21.3 | 16.6 | 1.7 | −1.5% |
| Median | 21.2 | 18.6 | 3.3 | +1.9% |