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Xcel Energy (XEL) is poised to benefit from growing electricity demand driven by data centers and AI technologies. The company recently raised its quarterly dividend, marking 23 consecutive years of growth.

With a strategic focus on expanding capacity for large data centers and a recent agreement to power a Google facility in Minnesota, Xcel is targeting 6 GW of data center capacity by 2027. Analysts have upgraded XEL to 'Buy' with a consensus strong buy rating, anticipating significant upside potential.