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Xcel Energy Inc. Message Board

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  • margin321 margin321 Mar 21, 2008 7:14 AM Flag

    Richard Kelly/AP

    IMO Richard Kelly earns the salary that he is paid.

    I built a position in XEL almost exclusively because Kelly is at the helm.

    He was running NRG during ENE induced liquidity crisis for utilities. He took over XEL when NRG was still a for profit subsidiary. He really tried to hold onto that asset. When he realized that it wasn't going to work (the banks would not co-operate) he had to shift gears quickly and protect XEL from potential ruinous losses as NRG was restructured. That took a huge amount of management skill and flexibility.

    XEL shares briefly dropped to $8 (look at the scar on the long term chart -


    The dividend was suspended and the reinstated at half the then current rate. But company survived as a regulated monopoly (its roots) and resumed slow but steady growth in revenues and dividend rate. I started buying back then. I feel very comfortable with Kelly running the show. XEL has been a good investment since 2003.

    LT holders saw their shares diluted and their dividend stream cut from 37.5 cents a quarter to half of that. But divy now back to 23 cents a quarter and due for another penny increase.

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