Xcel Energy (XEL)
Regulated utility delivering electricity and natural gas across eight Western and Midwestern states.
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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
Target rangeAs of Sep 21, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Sep 18, 2026 | Morgan Stanley | Reiterate | Rating: —Target: $89 | Target: $83 |
| Aug 13, 2026 | Truist Financial | Target | Target: $92 | Target: $88 |
| Jul 31, 2026 | BTIG | Reiterate | Rating: —Target: $98 | Target: $99 |
| Jul 31, 2026 | Mizuho Securities | Target | Target: $86 | Target: $92 |
| Jul 22, 2026 | BMO Capital | Reiterate | Rating: —Target: $90 | Target: $92 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $2.01B · Total debt $40.32B · Total assets $87.17B · Shareholders' equity $24.06B
- Revenue
- $3.12B
- Operating income
- $709.0M
- Net income
- $586.0M
HistoryDividendAnnual yield
| Institutions | 96.29% | 601.44M shares | |
|---|---|---|---|
| 1,318 holders · as of Jun 30, 2026 | |||
| Insiders | 0.23% | 1.42M shares | |
| 24 holders · as of Jul 31, 2026 | |||
| Other | 3.48% | 21.77M shares | |
| remainder | |||
624.63M company shares as of Sep 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
BlackRock, Inc.Institution | 9.75% | 60.90M | as of Jun 30, 2026 |
Vanguard Capital Management LLCInstitution | 6.53% | 40.77M | as of Jun 30, 2026 |
State Street CorpInstitution | 6.23% | 38.90M | as of Jun 30, 2026 |
Vanguard Portfolio Management LLCInstitution | 5.70% | 35.61M | as of Jun 30, 2026 |
Bank of America Corp /DE/Institution | 4.79% | 29.93M | as of Jun 30, 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 |
- 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.
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Xcel Energy | $72.05 | +0.28% | $44.88B | 19.6 | 17.0 | 3.1 | −5.1% |
| NextEra Energy | $79.38 | −0.31% | $166.11B | 17.9 | 19.6 | 5.7 | +12.5% |
| Duke Energy | $116.69 | −0.05% | $91.01B | 17.5 | 17.3 | 2.7 | +1.1% |
| Southern Company | $85.29 | −0.20% | $98.31B | 20.6 | 18.3 | 3.3 | +0.1% |
| American Electric Power | $120.20 | +0.14% | $65.34B | 20.8 | 18.1 | 2.9 | +7.0% |
| WEC Energy Group | $103.49 | +0.01% | $33.71B | 20.1 | 19.4 | 3.3 | +2.6% |
| Alliant Energy | $65.11 | +0.21% | $16.78B | 20.6 | 18.7 | 3.8 | +1.0% |
| Dominion Energy | $62.75 | −0.12% | $55.25B | 21.8 | 16.3 | 3.0 | +17.6% |
| DTE Energy | $126.26 | +0.10% | $26.25B | 19.8 | 15.5 | 1.6 | −1.5% |
| Median | 20.3 | 18.2 | 3.1 | +1.9% |