Interactive Brokers shares jump as it secures spot in S&P 500
Northern States Power Company (NASDAQ:XEL), a Wisconsin-based utility with a market capitalization of $38.86 billion and a 54-year track record of consecutive dividend payments, announced Monday it has issued $250 million in aggregate principal amount of 5.65% First Mortgage Bonds, Series due June 15, 2054. The bonds were sold in a reopening of an existing series of previously issued and outstanding 5.65% First Mortgage Bonds with the same maturity date. According to InvestingPro data, the company’s current total debt to capital ratio stands at 0.45.
The offering was made through an underwriting agreement with BNP Paribas (OTC:BNPQY) Securities Corp., CIBC (TSX:CM) World Markets Corp., and RBC Capital Markets, LLC, acting as representatives for the underwriters named in the agreement. The bonds were issued under a registration statement on Form S-3 (File No. 333-278797-03), and a prospectus supplement related to the offering was filed with the Securities and Exchange Commission on June 18, 2025. The company currently offers a dividend yield of 3.42%, making it an interesting option for income-focused investors.
The bonds are governed by the company’s Supplemental and Restated Trust Indenture, dated March 1, 1991, as supplemented, between Northern States Power and U.S. Bank Trust Company, National Association, as successor trustee, and the Supplemental Trust Indenture dated May 13, 2024.
This information is based on a press release statement included in the company’s Form 8-K filing with the Securities and Exchange Commission.
In other recent news, Xcel Energy reported first-quarter earnings per share (EPS) of $0.84, which fell short of the consensus estimate of $0.92. Mizuho (NYSE:MFG) Securities responded by raising the company’s stock target to $74 while maintaining an Outperform rating, citing expected recovery of fuel and purchased power costs later in the year. Additionally, Xcel Energy declared a quarterly dividend of 57 cents per share, reflecting its ongoing commitment to shareholder value. In corporate governance developments, Xcel Energy’s shareholders approved the executive compensation package and ratified Deloitte & Touche LLP as the independent auditor during the annual meeting. Furthermore, Xcel Energy appointed Ryan Long as the new executive vice president and chief legal and compliance officer, effective immediately. Meanwhile, Southwestern Public Service Co., a subsidiary, issued $500 million in bonds to support ongoing operations and potential expansions. These recent developments highlight the company’s continued efforts to manage financial operations and maintain transparency with shareholders.
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