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Xcel Energy Inc XEL

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Morningstar’s Analysis

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Xcel Closes Another Strong Year, Finds New Investment Opportunities Despite COVID-19 Headwinds

Travis Miller Strategist

Analyst Note

| Travis Miller |

We are raising our fair value estimate to $52 per share from $51 after Xcel Energy reported earning $2.79 per share for full-year 2020, up 6% from 2019. We are reaffirming our narrow moat and stable moat trend ratings. Results from 2020 were in line with our estimate and management's guidance range. The fair value increase was due to time-value appreciation and an increase in our capital investment forecast. 

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Company Profile

Business Description

Xcel Energy manages utilities serving 3.7 million electric customers and 2.1 million natural gas customers in eight states. Its utilities are Northern States Power, which serves customers in Minnesota, North Dakota, South Dakota, Wisconsin, and Michigan; Public Service Company of Colorado; and Southwestern Public Service Company, which serves customers in Texas and New Mexico. It is one of the largest renewable energy providers in the U.S. with one third of its electricity sales coming from renewable energy.

414 Nicollet Mall
Minneapolis, MN, 55401
T +1 612 330-5500
Sector Utilities
Industry Utilities - Regulated Electric
Most Recent Earnings Dec 31, 2020
Fiscal Year End Dec 31, 2021
Stock Type Slow Growth
Employees 11,367