XCEL ENERGY THIRD-QUARTER 2021 EARNINGS REPORTED
Xcel Energy has reported 2021 third-quarter GAAP and ongoing earnings of $609 million, or $1.13 per share, compared with $603 million, or $1.14 per share, in the same period in 2020. Earnings reflect higher electric and natural gas margins and lower operating and maintenance (O&M) expenses, which were offset by additional depreciation and lower allowance for funds used during construction.
Xcel Energy posted strong year-to-date results, and is narrowing its 2021 earnings guidance to $2.94 to $2.98 per share. It is also issuing an updated capital forecast of $26 billion for 2022 to 2026, which will provide significant benefits to customers, help the company achieve its system goals by 2050, and drive rate base growth of 6.5 percent. In addition, the company is initiating 2022 earnings guidance of $3.10 to $3.20 per share, which is consistent with long-term growth objectives.
WEC ENERGY GROUP REPORTS THIRD-QUARTER RESULTS
WEC Energy Group has reported net income of $290.0 million, or 92 cents per share, for the third-quarter of 2021, up from $266.8 million, or 84 cents per share, from last year’s third-quarter. For the first nine months of 2021, the company recorded net income of $1.08 billion, or $3.40 per share — up from $960.9 million, or $3.04 per share, in the corresponding period a year ago.
Consolidated revenues totaled $6.1 billion for the first nine months of 2021, up $805.8 million from revenues for the first nine months of 2020.Retail deliveries of electricity, excluding the iron ore mine in Michigan’s Upper Peninsula, were up by 2.4 percent in the third-quarter of 2021, compared to the third-quarter of 2020.
MGE POSTS Q3 EARNINGS
MGE Energy has reported third-quarter earnings of $34.9 million, up from $31.8 million a year ago. On a per-share basis, the public utility holding company’s earnings were 97 cents, up from 88 cents a year earlier. Revenues rose to $145.9 million from $135.2 million.
For the quarter, electric retail kilowatt-hour sales increased 2.2 percent compared to the third quarter of 2020. Electricity use by commercial customers was 4.5 percent higher during the third quarter of 2021, while electric residential consumption declined by 3.9 percent.
XCEL ENERGY INC. BOARD DECLARES DIVIDEND ON COMMON STOCK
The Board of Directors of Xcel Energy has declared a quarterly dividend on its common stock of 45.75 cents per share. The dividends are payable January 20, 2022, to shareholders of record on December 22, 2021.
WEC ENERGY GROUP TO INCREASE DIVIDEND BY 7.4 PERCENT
The Board of Directors of WEC Energy Group has announced plans to raise the quarterly dividend on the company’s common stock to 72.75 cents per share in the first quarter of 2022. This would represent an increase of 5 cents per share, or 7.4 percent.
The directors expect to declare the new dividend at their regularly scheduled meeting in January. The dividend, which would be equivalent to an annual rate of $2.91 per share, would be payable March 1, 2022, to stockholders of record on February 14, 2022.
