Xcel Energy Inc. (NYSE: XEL) Director Timothy V. Wolf recently bought 4,000 shares of XEL common stock at an average price of $27.98 per share.
The purchase from Wolf came shortly after Xcel Energy reported its quarterly and full-year 2012 results. XEL, which is engaged in the utility business through its subsidiaries, reported GAAP earnings of $905 million, or $1.85 per share for 2012, compared to GAAP earnings of $841 million, or $1.72 per share reported in 2011.
XEL’s ongoing earnings for 2012 were $1.82 per share, compared to $1.72 per share reported in 2011. The increase in ongoing earnings was due to higher electric margins driven by the conclusion of various rate cases, which reflect the company’s continued investment in its utility business and a lower effective tax rate.
XEL’s total revenue for 2012 was $10.12 billion, down 4.9% from 2011.
For the fourth quarter of 2012, Xcel Energy reported operating earnings of $0.29 per share. The company’s GAAP earnings for the quarter were $0.29 per share. Total revenue for the fourth quarter of 2012 was $2.55 billion, down 0.7% from the same period in the previous year.
Ben Fowke, Chairman, President and CEO, said that the company had an excellent year financially and operationally in 2012. Fowke said that the company delivered earnings in the upper half of its guidance range, which represents the eighth consecutive year in which it has met or exceeded its earnings guidance and for the ninth consecutive year the company increased its dividend. He added that the company is well positioned to deliver on its 2013 earnings guidance of $1.85 per share to $1.95 per share.
Xcel Energy shares are marginally lower in early trading today. At last check, the stock was down 0.40% to $27.67. In the last one year, XEL shares have gained 4.73%, underperforming the broad market, which has gained 11.94%.
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