15 Best Power Generation Stocks To Buy For Data Center Demand

12. Xcel Energy Inc. (NASDAQ:XEL)

On May 1, 2026, Mizuho analyst Anthony Crowdell raised the firm’s price target on Xcel Energy Inc. (NASDAQ:XEL) to $94 from $86 previously and maintained an Outperform rating on the shares.

On April 30, 2026, Xcel Energy Inc. (NASDAQ:XEL) reported Q1 ongoing EPS of 91c, in line with consensus, while revenue came in at $4.02B versus $4.11B expected. CEO Bob Frenzel said the company remains focused on strengthening and modernizing the grid, expanding energy sources, and deploying technologies aimed at maintaining safe, reliable, and affordable energy service. Xcel maintained its FY26 ongoing EPS outlook of $4.04-$4.16, compared to consensus estimates of $4.11.

Ahead of the earnings report, BMO Capital raised its price target on Xcel Energy Inc. (NASDAQ:XEL) to $94 from $90 and maintained an Outperform rating. The firm said investors were likely focused on the company’s regulatory calendar, including the Minnesota Electric ALJ and Colorado electric case proceedings. BMO also noted that Xcel’s geographic footprint gives it exposure to some of the most renewables-rich regions in the United States.

Xcel Energy Inc. (NASDAQ:XEL), through its subsidiaries, provides electric and natural gas delivery services in the United States.