Xcel Energy stock gained 1.73 percent after Michigan sale

Published on 10/07/2026 at 05:36 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Xcel Energy stock gained 1.73 percent on October 6 after the company announced a Michigan operations sale. The deal covers 15,000 customers and awaits approval.

Flatlay mit Aktienzertifikat, ISIN-Karte, Mini-Windrad und Solarpanel auf Holztisch — Xcel Energy Inc (ISIN US98389B1008) symbolisiert Flatlay mit Aktienzertifikat, ISIN-Karte, Windrad-Modell und Solarpanel-Muster, Illustration mit AI erstellt.

Xcel Energy stock gained 1.73 percent to USD 72.73 on Nasdaq on October 6, 2026, at 4:00 p.m. ET. The move followed the company's announcement that it plans to transfer its Michigan natural gas and electric operations to SEMCO ENERGY Gas Company and Upper Peninsula Power Company.

Michigan sale covers 15,000 customers

According to Business Wire on October 6, 2026, SEMCO would serve 6,000 natural gas customers while UPPCO would take over electric service for 9,000 customers in Gogebic and Ontonagon counties.

The transaction requires state and federal regulatory approvals and is expected to close in 2027. For Xcel Energy, the agreement narrows its Michigan footprint while management says the company continues investing in Wisconsin and its other territories.

Quarterly earnings beat EPS estimates

The latest reported quarter offers a mixed operating picture. In Q2 2026, Xcel Energy posted EPS of USD 0.93, which was USD 0.14 above the USD 0.79 consensus estimate, while revenue fell 5.1 percent year over year to USD 3.12 billion, according to MarketBeat.

That combination matters for investors: earnings execution was better than expected, but the revenue decline keeps attention on demand, regulation and capital deployment. The company's Q2 2026 consolidated net income was USD 586 million.

Consensus target remains above price

MarketBeat lists a Buy consensus from 17 analysts, including 13 Buy, 3 Strong Buy and 1 Hold ratings. The average target is USD 91.65, with a high of USD 102.00 and a low of USD 77.00.

Against the USD 72.73 Nasdaq price, the average target lies 26.0 percent above the reference price. The range of targets shows that the consensus remains constructive, while the Michigan transaction adds a regulatory milestone to the near-term company story.

Xcel Energy stock stays below yearly high

Xcel Energy stock was last at USD 72.73 on Nasdaq on October 6, 2026. The 52-week range was USD 68.72 to USD 84.23, and the market capitalization stood at USD 45.4 billion.