Xcel Energy is trading higher following the October 6 announcement that the company has entered into an agreement to sell its Michigan natural gas and electric operations to SEMCO ENERGY Gas Company and Upper Peninsula Power Company. This move represents a strategic effort toward utility portfolio rationalization, a common trend in the sector as companies look to optimize their regional footprints. The stock is also benefiting from a broader positive trend in the utilities industry, as peers such as NextEra Energy, DTE Energy, and NiSource all posted gains during the most recent regular session.