*

Ramps up five-year capital plan to $60 billion

*

Initiates 2026 adjusted profit forecast to be between

$4.04 to

$4.16 per share

*

Misses Q3 estimates on higher interest charges, O&M

expenses

(Recasts lede and adds shares, details from conference call and

analyst quote throughout)

By Pooja Menon

Oct 30 (Reuters) -

U.S. utility Xcel Energy ( XEL ) ramped up its capital

investment plan to $60 billion for the next five years to cater

to increased power demand and make required investments to

strengthen its transmission and distribution systems.

Utilities have been adding billions of dollars to their

capital expenditure budgets as they field massive requests for

new power capacity from data centers, which aim to support

complex AI-related tasks.

Quarterly operating revenue at its electric segment rose

7.2% to $3.64 billion, while that at its natural gas division

climbed to $264 million from $239 million a year ago.

Xcel said in September it had reached settlement agreements

to resolve all claims related to the 2021 Marshall Fire in

Colorado, while reiterating that it does not admit any fault,

wrongdoing or negligence in connection with the resolution.

The Minneapolis, Minnesota-based company said it will invest

nearly $5 billion to improve resiliency and reduce future risk

from wildfires, adding that it continues to make progress on the

Smokehouse Creek fire claims process.

Xcel provides electric services to about 3.9 million

customers and natural gas services to 2.2 million customers

across eight Western and Midwestern states.

The utility's total interest charges rose 17.8% to $384

million in the three months ended September 30, while operating

and maintenance expenses rose 5.6% to $692 million.

J.P. Morgan analysts said the capital plan update approaches

investor expectations, but does not exceed them.

The investors will still appreciate the positive in the

6% to 8% earnings per share growth rate put forth by Xcel, which

might ultimately "carry the day," the analysts added.

Shares of the company rose 2.4% in afternoon trading.

Xcel also initiated 2026 adjusted earnings in the range of

$4.04 to $4.16 per share, the midpoint of which is less than

analysts' average estimate of $4.12 apiece, according to data

compiled by LSEG.

The company's third-quarter profit came in at $1.24 per

share on an adjusted basis, missing estimates of $1.32 per

share.