Xcel Energy gains after higher Q2 profit

Shares of U.S. utility Xcel Energy XEL.O up 1.6% at $73.56

Company posts a 47% rise in Q2 profit, helped by higher revenue through rate hikes, even as rising interest, depreciation and operations costs partially offset the gains

XEL reports Q2 profit of $444 million, higher than $302 million a year ago

XEL says it was able to bring in more revenue through regulator-approved rate hikes in the quarter, helping it cover the costs of upgrading the grid

However, its total operating expenses rose around 5% from a year ago to $2.71 billion, while total interest charges and financing costs jumped 6.3% from a year ago to $322 million

Including session's moves, XEL up about 9% YTD