Xcel Energy’s Colorado utility files major natural gas rate case

The latest announcement is out from Xcel Energy ( (XEL) ).

On Dec. 29, 2025, Public Service Company of Colorado filed a natural gas rate case with the Colorado Public Utilities Commission seeking an 11.6% revenue increase, or $190 million, for a 2025 test year built on a projected $4.7 billion rate base. The request is driven primarily by $90 million of capital investments, $53 million related to changes in cost of capital, and $42 million in higher operating and maintenance expenses, partly offset by $7 million from sales and revenue growth, with a decision and implementation of final rates expected in the third quarter of 2026, potentially affecting customer bills and the utility’s regulated returns.

The most recent analyst rating on (XEL) stock is a Hold with a $78.00 price target. To see the full list of analyst forecasts on Xcel Energy stock, see the XEL Stock Forecast page.

Spark’s Take on XEL Stock

According to Spark, TipRanks’ AI Analyst, XEL is a Neutral.

Xcel Energy’s overall score reflects strong earnings guidance and strategic investments in renewable energy, offset by financial risks from high leverage and cash flow challenges. Technical indicators suggest bearish momentum, and valuation metrics do not strongly favor buying at current levels.

To see Spark’s full report on XEL stock, click here.

More about Xcel Energy

Xcel Energy, through its wholly owned subsidiary Public Service Company of Colorado (PSCo), operates as a regulated utility providing natural gas service in Colorado, earning revenue based on rates approved by state regulators and investing in capital infrastructure to support its gas distribution network and related operations.

Average Trading Volume: 4,908,696

Technical Sentiment Signal: Buy

Current Market Cap: $43.69B

For detailed information about XEL stock, go to TipRanks’ Stock Analysis page.