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Xcel Energy Inc (NASDAQ:XEL). stock reached a 52-week high, hitting 73.39 USD, marking a significant milestone for the company. With a market capitalization of $42.2 billion, the utility giant trades at a P/E ratio of 21.4x, according to InvestingPro data. Over the past year, Xcel Energy has seen a robust 37% increase in its stock price, reflecting strong investor confidence and positive market conditions. The company maintains a solid 3.1% dividend yield and has consistently paid dividends for 54 consecutive years. This upward trend underscores the company’s resilience and strategic positioning in the energy sector, as it continues to navigate the complexities of the market while capitalizing on growth opportunities. The recent high is a testament to Xcel Energy’s ongoing commitment to delivering value to its shareholders. InvestingPro subscribers can access 6 additional key insights and a comprehensive Pro Research Report about Xcel Energy’s financial health and future prospects.
In other recent news, Xcel Energy announced plans to expand its generation capacity by 5,168 megawatts in Texas and New Mexico by 2030. This expansion will include 17 new power projects and extensions of existing facilities, adding significant wind and solar capabilities. In a related development, Jefferies has raised Xcel Energy’s stock price target to $80, maintaining a Buy rating, citing the company’s growth prospects and potential capital expenditure upside. Additionally, Northern States Power Company, a subsidiary of Xcel Energy, has filed a request for a $44 million electric rate increase in South Dakota, which would result in a 15% rise in rates. The proposed rate adjustment, if approved, would take effect in 2026 and lead to an average annual residential bill increase of 3% from 2016 to 2026. Furthermore, Northern States Power issued $250 million in 5.65% First Mortgage Bonds due in 2054, with the offering managed by major financial institutions. These developments reflect Xcel Energy’s strategic initiatives and financial maneuvers in the energy sector.
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