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Xcel Energy down after boosted $2.2 bln convertible bond sale

By Reuters News

** Electric and natgas utility Xcel Energy's XEL.O shares down 1.1% to $78.43 in early trading on Tues after securing raise to refinance short-term debt

** Minneapolis, Minnesota-headquartered XEL late Mon announced pricing private of $2.2 bln 2.625% convertible bonds due Dec 15, 2027

** Conversion price set at $87.26, 10% above stock's last close of $79.33

** XEL shares dipped 0.6% on Mon after co launched $2 bln offering to repay short-term borrowings, including a portion of its commercial paper borrowings

** Co last week posted Q3 earnings beat, per LSEG; on the earnings call, co introduced $70 bln 5-yr investment plan to meet increasing demand and strengthen its transmission and distribution systems, citing data centers as a major source of new energy demand

** Stock now up 6% YTD, outperforming ~1.6% gain in S&P 500 Utilities .SPLRCU

** Avg rating of 21 analysts is "buy"; median PT $92 - LSEG

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