Xcel Energy Analysis (December 2025) | Price Development & Price Target

Xcel Energy

NasdaqGS:XEL

$ 77,18

$-0,59 (-0,76%)

77,18 $

$-0,59 (-0,76%)

End-of-day quote: 12/05/2025

Xcel Energy Stock Value

The analyst rating for NasdaqGS:XEL is currently Outperform.

Outperform

Xcel Energy Company Info

EPS Growth 5Y

5,80%

Market Cap

$46,00 B

Long-Term Debt

$27,32 B

Short Interest

5,46%

Annual earnings

01/29/2026

Dividend

$2,26

Dividend Yield

2,93%

Founded

1909

Industry

Utilities

Country

United States

ISIN Number

US98389B1008

Website

https://www.xcelenergy.com

Analyst Price Target

$90,00

16.61%

Last Update: 12/06/2025

Analysts: 17

Highest Price Target $97,00

Average Price Target $90,00

Lowest Price Target $65,00

In the last five quarters, Xcel Energy’s Price Target has risen from $44,51 to $62,71 - a 40,89% increase. Nineteen analysts predict that Xcel Energy’s share price will increase in the coming year, reaching $90,00. This would represent an increase of 16,61%.

Top growth stocks in the utilities sector (5Y.)

What does Xcel Energy do?

Xcel Energy Inc. (Xcel Energy) is a major U.S. regulated electric and natural gas delivery company. The company serves customers in eight states, including portions of Colorado, Michigan, Minnesota, New Mexico, North Dakota, South Dakota, Texas and Wisconsin. Xcel Energy provides a comprehensive portfolio of energy-related products and services to approximately 3.9 million electric customers and 2.2 million natural gas customers through four utility subsidiaries (i.e., NSP-Minnesota, NSP-Wiscon...

Xcel Energy Inc. (Xcel Energy) is a major U.S. regulated electric and natural gas delivery company.

The company serves customers in eight states, including portions of Colorado, Michigan, Minnesota, New Mexico, North Dakota, South Dakota, Texas and Wisconsin. Xcel Energy provides a comprehensive portfolio of energy-related products and services to approximately 3.9 million electric customers and 2.2 million natural gas customers through four utility subsidiaries (i.e., NSP-Minnesota, NSP-Wisconsin, PSCo and SPS). Along with the utility subsidiaries, the transmission-only subsidiaries, WYCO (a joint venture formed with CIG to develop and lease natural gas pipelines, storage and compression facilities) and WGI (an interstate natural gas pipeline company) comprise the regulated utility operations. The company’s nonregulated subsidiaries include Eloigne, Capital Services, Venture Holdings and Nicollet Project Holdings.

Strategy

The company’s strategy is to enhance their experience with Xcel Energy and keep their bills as low as possible.

Utility Subsidiaries

NSP-Minnesota

NSP-Minnesota conducts business in Minnesota, North Dakota and South Dakota; and has electric operations in all three states including the generation, purchase, transmission, distribution and sale of electricity. NSP-Minnesota and NSP-Wisconsin electric operations are managed on the NSP System. NSP-Minnesota also purchases, transports, distributes and sells natural gas to retail customers and transports customer-owned natural gas in Minnesota and North Dakota.

NSP-Wisconsin

NSP-Wisconsin conducts business in Wisconsin and Michigan; and generates, transmits, distributes and sells electricity. NSP-Minnesota and NSP-Wisconsin electric operations are managed on the NSP System. NSP-Wisconsin also purchases, transports, distributes and sells natural gas to retail customers and transports customer-owned natural gas.

PSCo

PSCo conducts business in Colorado and generates, purchases, transmits, distributes and sells electricity. PSCo also purchases, transports, distributes and sells natural gas to retail customers and transports customer-owned natural gas.

SPS

SPS conducts business in Texas and New Mexico and generates, purchases, transmits, distributes and sells electricity.

Operations

Utility operations are generally conducted as either electric or gas utilities in the company’s four utility subsidiaries.

Electric Operations

Electric operations consist of energy supply, generation, transmission and distribution activities across all four utility subsidiaries. Xcel Energy had electric sales volume of 112,273 (millions of KWh), 3.9 million customers for 2024.

Carbon-Free

Xcel Energy’s carbon-free energy portfolio includes wind, nuclear, hydroelectric, biomass and solar power from both owned generation facilities and PPAs.

Wind

Xcel Energy has approximately 1,900 MW of owned wind under development or being repowered. This includes 350 MW of approved repowering projects at the NSP System estimated to be completed in 2025. The company anticipates approximately 1,550 MW at PSCo as part of the Colorado Resource Plan and anticipates approval of an additional 300 MW of PPAs as part of the Colorado Resource Plan, additions are expected to be placed in service between 2026 - 2028.

Additionally, the NSP System anticipates 3,200 MW to be placed in service by 2030, as part of the recently approved Upper Midwest Resource Plan. The RFP process will start in 2025.

Solar

Solar Development — Xcel Energy has approximately 2,700 MW of owned and PPA solar under development. For the NSP System, this includes 500 MW of solar approved at the Sherco site which are expected to be placed in service in 2025 and 2026. Additionally, various PPAs totaling approximately 105 MW are expected to be completed throughout 2025. Incremental to this amount is 400 MW anticipated as part of the Upper Midwest Resource Plan, to be placed in service by 2030.

PSCo anticipates development of approximately 1,700 MW of solar generation resources (650 MW company owned, 1,050 MW as PPAs) as part of the Colorado Resource Plan. Colorado Resource Plan additions are expected to be placed in service between 2026 - 2028.

For SPS, approximately 450 MW of solar and storage are expected to be placed in service in 2026 and 2027.

Nuclear

Xcel Energy has two nuclear plants with approximately 1,700 MW of total 2024 net summer dependable capacity that safely and reliably generates carbon free electricity for the NSP System. Xcel Energy secures contracts for uranium concentrates, uranium conversion, uranium enrichment and fuel fabrication to operate its nuclear plants.

Other

Xcel Energy’s other carbon-free energy portfolio includes hydro from owned generating facilities.

The NSP System anticipates development of approximately 300 MW of storage capacity at the Sherco site, expected to be placed in service in 2027. Additionally, 600 MW of stand-alone storage are expected to be added as part of the Upper Midwest Resource Plan, to be placed in service by 2030.

PSCo anticipates the development of approximately 1,850 MW of storage capacity (400 MW company owned, 1,450 MW as PPAs) as part of the Colorado Resource Plan. Colorado Resource Plan additions are expected to be placed in service between 2026 - 2028.

Fossil Fuel

Xcel Energy’s fossil fuel energy portfolio includes coal and natural gas power from both owned generating facilities and PPAs.

Coal

Xcel Energy owned and operated coal units with approximately 5,500 MW of total 2024 net summer dependable capacity, which provided 15% of Xcel Energy’s energy mix in 2024. This amount includes the coal units Harrington Units 1-3, which are in the process of being converted to natural gas (net summer dependable capacity of 1,018 MW) and approximately 100 MW derived from RDF and wood fuel sources.

Xcel Energy has plans to retire or convert to natural gas all of its existing coal generation by the end of 2030.

Natural Gas

Xcel Energy has 22 natural gas plants with approximately 8,000 MW of total 2024 net summer dependable capacity, which provided 33% of Xcel Energy’s mix in 2024.

The NSP System anticipates the development of 700 MW of company owned natural gas generation expected to be placed in service between 2025 - 2028.

PSCo anticipates the development of approximately 450 MW of company owned natural gas generation, as part of the Colorado Resource Plan to help ensure resiliency and reliability. Colorado Resource Plan additions are expected to be placed in service between 2026 - 2028.

In 2024, SPS converted a total of 339 MW from coal to natural gas related to the Harrington station coal to natural gas repowering project. In January 2025, an additional 341 MW has been converted to natural gas. Through 2025, SPS expects to convert a final 338 MW to natural gas.

Transmission

Transmission lines deliver electricity at high voltages and over long distances from power sources to substations closer to customers. A strong transmission system ensures continued reliable and affordable service, ability to meet state and regional energy policy goals, and support for a diverse generation mix, including renewable energy. Xcel Energy owns approximately 111,000 conductor miles of transmission lines across its service territory.

Distribution

Distribution lines allow electricity to travel at lower voltages from substations directly to customers. Xcel Energy has a vast distribution network, owning and operating approximately 221,000 conductor miles of distribution lines across the company’s eight-state service territory.

Natural Gas Operations

Natural gas operations consist of purchase, transportation and distribution of natural gas to end-use residential, C&I and transport customers in NSP-Minnesota, NSP-Wisconsin and PSCo. Xcel Energy had natural gas deliveries of 387,513 (thousands of MMBtu) and 2.2 million customers for 2024.

Natural Gas Supply

NSP-Minnesota, NSP-Wisconsin and PSCo have natural gas supply transportation and storage agreements that include obligations for purchase and/or delivery of specified volumes or to make payments in lieu of delivery.

Seasonality

Xcel Energy’s operations have historically generated less revenues and income when weather conditions are warmer in the winter and cooler in the summer.

Environmental Regulation

The company’s operations are subject to workplace safety standards under the Federal Occupational Safety and Health Act of 1970 (OSHA) and comparable state laws that regulate the protection of worker health and safety.

History

Xcel Energy Inc., formerly known as Northern States Power Company, was founded in 1909. The company was incorporated in 1909.

Xcel Energy Questions and Answers

Which sectors generate sales and which are the top 3 markets?

Industry Turnover: Electricity: approx. 80% Natural Gas: approx. 15% Other Services: approx. 5% TOP 3 Markets: Minnesota: approx. 35% Colorado: approx. 25% Texas: approx. 20% Xcel Energy Inc. generates the majority of its turnover from the sale of electricity, followed by natural gas and other s...

At which locations are the company’s products manufactured?

Production Sites: USA Xcel Energy Inc. is a utility company that operates mainly in the USA. The company produces and delivers electricity and gas in several states, including Colorado, Michigan, Minnesota, New Mexico, North Dakota, South Dakota, Texas, and Wisconsin. Xcel Energy operates a variety...

What strategy does Xcel Energy pursue for future growth?

Strategy for Renewable Energies: Expansion to 80% by 2030 Investments in Infrastructure: 26 billion USD by 2027 Net Zero Goal: By 2050 Xcel Energy Inc. is pursuing a strategy that is heavily focused on the expansion of renewable energies. The company plans to increase its share of renewable energi...

Which raw materials are imported and from which countries?

Main raw materials: Natural gas, coal, uranium Countries of origin: Natural gas: USA (mainly domestic sources) Coal: USA (mainly domestic sources, e.g. from Wyoming and Colorado) Uranium: Canada, Australia, Kazakhstan Xcel Energy Inc. is a utility company mainly operating in the USA. The company p...

How strong is the company’s competitive advantage?

Market share in the supply sector: 15% (estimated, 2025) Customer satisfaction: 85% (2024, JD Power) Investments in renewable energies: 2 billion USD (2023) Xcel Energy Inc. has gained a significant competitive advantage through its extensive investments in renewable energies. The company has been...

What is the share of institutional investors and insider buying/selling?

Institutional investor share: approx. 75% (estimated for 2025 based on historical data) Insider purchases/sales: No significant changes in the last year (estimated based on typical patterns) The institutional investor share at Xcel Energy Inc. is traditionally high, as utility companies are often se...

What percentage market share does Xcel Energy have?

Market share of Xcel Energy Inc.: Estimated around 5% in the US energy market (2025) Main competitors and their market shares: NextEra Energy, Inc. - around 10% Duke Energy Corporation - around 8% Southern Company - around 7% Dominion Energy, Inc. - around 6% Exelon Corporation - around 6% American...

Is Xcel Energy stock currently a good investment?

Revenue growth: 5.1% (2024) Profit growth: 4.8% (2024) Dividend yield: 3.1% (2024) Xcel Energy Inc. recorded a moderate revenue growth of 5.1% in 2024, attributed to stable demand in the energy sector and successful investments in renewable energy. The profit growth of 4.8% indicates that the compan...

Does Xcel Energy pay a dividend – and how reliable is the payout?

Dividend Yield: 3.1% (estimated for 2025) Dividend History: Continuous payout for over 20 years Xcel Energy Inc. is known for its reliable dividend policy. Over the past two decades, the company has consistently distributed dividends to its shareholders, indicating a stable financial foundation and...

Xcel Energy Stock Value

Xcel Energy Company Info

Analyst Price Target

Top growth stocks in the utilities sector (5Y.)

What does Xcel Energy do?

Xcel Energy Questions and Answers

Offer & Services

Service & Collaboration

Company & Legal