Xcel Energy Positioned for Growth Amid Rising Data Center Demand
Xcel Energy (XEL) is poised to benefit from growing electricity demand driven by data centers and AI technologies. The company recently raised its quarterly dividend, marking 23 consecutive years of growth. With a strategic focus on expanding capacity for large data centers and a recent agreement to power a Google facility in Minnesota, Xcel is targeting 6 GW of data center capacity by 2027. Analysts have upgraded XEL to 'Buy' with a consensus strong buy rating, anticipating significant upside potential.
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Xcel Energy (XEL) is capitalizing on the increasing electricity demand from data centers, driven by cloud computing and AI. The company recently increased its quarterly dividend to $0.5925 per share, achieving 23 years of consecutive growth.
Xcel's partnership with Google includes powering a new data center in Minnesota with 1,900 MW of clean energy. The company aims to expand its contracted data center capacity to 6 GW by 2027. For 2025, Xcel reported operating revenues of $3.6 billion, a 14.1% YOY increase, and total revenues of $14.7 billion, reflecting continued growth. Analysts have upgraded Xcel Energy, with a consensus
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