Streetbeat News

CEG

Constellation Energy Corporation

Industry

Renewable Utilities

Constellation Energy Corporation generates and sells electricity in the United States. The company operates through five segments: Mid-Atlantic, Midwest, New York, ERCOT, and Other Power Regions. It sells natural gas, renewable energy, and other energy-related products and services. The company has 32,400 megawatts of generating capacity consisting of nuclear, wind, solar, natural gas, and hydroelectric assets. It serves distribution utilities; municipalities; cooperatives; and commercial, industrial, governmental, and residential customers. The company was incorporated in 2021 and is headquartered in Baltimore, Maryland. Constellation Energy Corporation was formerly a subsidiary of Exelon Corporation.

Open

226.31

Mkt cap

72B

Volume

957K

High

233.12

P/E Ratio

25.58

52-wk high

288.75

Low

226.10

Div yield

0.01

52-wk low

109.44

Benzinga's Stock Whisper Index highlights five stocks: Elevance Health, Constellation Energy Corp, SoundHound AI, Howmet Aerospace, and Lumen Technologies. These stocks are identified for their potential as undervalued or emerging opportunities. Elevance Health reported a revenue increase and raised its full-year earnings guidance. Constellation Energy beat EPS estimates but missed on revenue, with shares reaching new highs. SoundHound AI reported a significant revenue increase and beat EPS estimates. Howmet Aerospace also reported higher revenue and raised its full-year guidance. Lumen Technologies, despite a share price drop, highlighted progress in its turnaround strategy.

Portfolio Pulse from Chris Katje

May 10, 2024 | 3:11 pm

Mizuho analyst Anthony Crowdell maintains a Neutral rating on Constellation Energy (NASDAQ:CEG) and raises the price target from $132 to $217.

Portfolio Pulse from Benzinga Newsdesk

May 10, 2024 | 12:03 pm

Wall Street experienced gains with major indices in the green, driven by an unexpected rise in unemployment claims, fueling speculation of Federal Reserve interest rate cuts. The U.S. dollar fell, and gold rallied. Notable stock movements included Equinix Inc.'s 11% rise after beating funds from operation results, while Roblox Corp. saw a significant drop of 21.1%. ETFs like the SPDR S&P 500 ETF Trust and iShares Russell 2000 ETF also saw increases.

Portfolio Pulse from Piero Cingari

May 09, 2024 | 4:42 pm

Constellation Energy is exploring the possibility of expanding its nuclear power generation capacity at its current U.S. locations, driven by the demand from data centers and other significant power consumers.

Portfolio Pulse from Benzinga Newsdesk

May 09, 2024 | 2:50 pm

Constellation Energy's shares have declined due to the company reporting lower than expected revenue for the first quarter.

Portfolio Pulse from Benzinga Newsdesk

May 09, 2024 | 11:52 am

Constellation Energy (NASDAQ:CEG) reported Q1 2024 adjusted EPS of $1.82, surpassing the $1.49 estimate, but its sales of $6.161B fell short of the $7.856B estimate, marking an 18.56% decrease from the previous year.

Portfolio Pulse from Benzinga Newsdesk

May 09, 2024 | 11:50 am

Wall Street anticipates a weaker opening due to rate concerns and awaits earnings reports and a Fed speech. The SPDR S&P 500 ETF Trust and Invesco QQQ ETF saw premarket declines. Positive contributions from Amgen, Inc. and Boeing Co. helped the Dow Jones Industrial Average, while the Nasdaq Composite and S&P 500 Index closed modestly lower. Analysts highlight risks from reduced personal savings and suggest a cautious investment approach amid uncertain market conditions. Several companies reported earnings, influencing stock movements.

Portfolio Pulse from Shanthi Rexaline

May 09, 2024 | 11:27 am

Constellation Energy (NASDAQ:CEG) has seen unusual options activity with over 17 trades amounting to $849,543. The focus is on a price band between $165.0 and $270.0. Notable bullish options activity includes calls with strike prices at $195 and $270, and a put at $220. The company, offering clean energy solutions, has a trading volume of 1,481,726 and its stock price has increased by 1.67% to $203.91. RSI indicators suggest it may be approaching overbought territory. An earnings announcement is expected in 1 day, and RBC Capital maintains a Sector Perform rating with a target of $211.

Portfolio Pulse from Benzinga Insights

May 08, 2024 | 4:31 pm

RBC Capital analyst Shelby Tucker has maintained a 'Sector Perform' rating on Constellation Energy (NASDAQ:CEG) and increased the price target from $119 to $211.

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 3:21 pm

Earnings reports and a dovish Federal Reserve stance lifted stocks last week, with Apple and Amazon leading the charge. FactSet reports 80% of S&P 500 companies have exceeded earnings expectations. This week, attention turns to Disney, Palantir, Robinhood, and Reddit's debut report. The SPDR S&P 500 ETF Trust and Invesco QQQ Trust saw gains, reflecting positive market sentiment.

Portfolio Pulse from Shanthi Rexaline

May 06, 2024 | 9:25 am

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