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Xcel Energy (XEL) shares surged 6.7% to close at $77.93 in the last trading session, significantly higher than its 0.7% gain over the last four weeks. This increase was bolstered by unusually high trading volume.
The company has agreed to a $640 million settlement regarding the 2021 Marshall Fire lawsuit, maintaining that its equipment did not cause the fire. Nearly $350 million of this settlement will be covered by its insurance, easing a major liability for the company.
Xcel Energy anticipates customer requests for data centers to reach nearly 8.9 gigawatts by 2029. The upcoming quarterly earnings report is expected to show earnings of $1.35 per share, an 8% year-over-year increase, with revenues projected at $3.95 billion, representing an 8.3% rise compared to the previous year.
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