Xcel Energy Inc. (XEL), headquartered in Minneapolis, Minnesota, generates, purchases, transmits, distributes, and sells electricity. With a market cap of $44.9 billion, the company also purchases, transports, distributes, and sells natural gas to retail customers, as well as transports customer-owned natural gas.
Shares of this electricity and natural gas company have underperformed the broader market over the past year. XEL has gained 13.2% over this time frame, while the broader S&P 500 Index ($SPX) has rallied nearly 14%. However, in 2026, XEL stock is up 3.2%, surpassing the SPX’s marginal rise on a YTD basis.
Narrowing the focus, XEL’s outperformance is apparent compared to the Utilities Select Sector SPDR Fund (XLU). The exchange-traded fund has gained about 11% over the past year. Moreover, XEL’s single-digit returns on a YTD basis outshine the ETF’s marginal gains over the same time frame.
Today, on Feb. 5, XEL reported its Q4 results. The company’s revenue stood at $3.6 billion, up 14.1% year over year. Its adjusted EPS grew 18.5% from the year-ago quarter to $0.96.
For the current fiscal year, ended in December 2025, analysts expect XEL’s EPS to grow 8.9% to $3.81 on a diluted basis. The company’s earnings surprise history is disappointing. It missed the consensus estimate in three of the last four quarters while beating the forecast on another occasion.
Among the 18 analysts covering XEL stock, the consensus is a “Strong Buy.” That’s based on 14 “Strong Buy” ratings, one “Moderate Buy,” and three “Holds.”
This configuration is more bullish than three months ago, with 13 analysts suggesting a “Strong Buy.”
On Jan. 30, BTIG kept a “Buy” rating on XEL and lowered the price target to $94, implying a potential 23.4% upside from current levels.
The mean price target of $87.94 represents a 15.4% premium to XEL’s current price levels. The Street-high price target of $95 suggests an upside potential of 24.7%.
