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

The U.S. Senate approved a ban on Russian enriched uranium, aiming to reduce reliance on Russian nuclear fuel and boost North American uranium miners. President Biden is expected to sign the bill, which could lead to higher uranium prices and increased domestic production. Cameco Corp. (CCJ) and other miners like NexGen Energy Ltd. (NXE) and Madison Metals Inc. (MMTLF) view this as positive for the industry. Utilities like Constellation Energy Corp. (CEG) and Duke Energy Corp. (DUK) have prepared by securing diverse uranium supplies. The ban, effective 90 days post-law enactment, includes waivers until 2028 for certain situations.

Portfolio Pulse from Matt Whittaker

May 03, 2024 | 7:54 pm

Constellation Energy (NASDAQ:CEG) has seen significant options activity indicating a bearish sentiment among investors, with a notable volume of puts over calls. The options trades target a price range of $165.0 to $200.0. Currently, CEG's stock is up 1.62% at $189.18, potentially nearing overbought territory. An earnings release is expected in 14 days, and an analyst from Evercore ISI Group maintains an Outperform rating with a target price of $198.0.

Portfolio Pulse from Benzinga Insights

April 25, 2024 | 7:01 pm

Constellation Energy's (NYSE:CEG) short interest has decreased by 17.82% since the last report, with 4.62 million shares sold short, representing 1.66% of its float. The current short interest suggests it would take about 1.93 days to cover all short positions. This decline in short interest could indicate a more bullish sentiment towards CEG compared to its peers, where the average short interest as a percentage of float is 2.50%.

Portfolio Pulse from Benzinga Insights

April 22, 2024 | 3:00 pm

Constellation Energy (NASDAQ:CEG) has seen unusual options activity indicating a predominantly bearish sentiment among big-money traders, with a significant volume of puts compared to calls. The options suggest targeting a price range of $140 to $220 for CEG over the next three months. Despite this, analysts maintain positive ratings on CEG, with target prices suggesting an upside potential.

Portfolio Pulse from Benzinga Insights

April 19, 2024 | 3:46 pm

Smart money investors have shown a significant interest in Constellation Energy (NASDAQ:CEG) options, with a bearish stance overall. Benzinga's options scanner revealed 8 unusual trades, indicating a mixed sentiment but leaning towards bearish with 62% bearish and 37% bullish trades. The trades suggest a target price range of $180 to $195 for CEG in the next three months. The largest trades include both calls and puts, with a notable bearish call at a strike price of $195 expiring on 01/17/25 and a bearish put at $180 expiring on 05/17/24. Constellation Energy, an energy solutions provider, has seen its stock price increase by 0.45% to $186.24, with an upcoming earnings report in 21 days. Analysts have a consensus target price of approximately $194.67 for CEG, with ratings from Morgan Stanley and Evercore ISI Group indicating a positive outlook.

Portfolio Pulse from Benzinga Insights

April 18, 2024 | 5:16 pm

Constellation has applied for a license renewal with the NRC to extend the operation of its Dresden Clean Energy Center in Morris, Illinois, through 2051. This move aims to continue providing reliable, carbon-free energy, supporting the regional economy, and addressing the climate crisis. The Dresden facility, powering nearly 1.4 million homes, is a significant part of Constellation's efforts to maintain its nuclear fleet, which is crucial for America's clean energy output. Public support for nuclear energy has grown due to its reliability and carbon-free benefits, especially highlighted during severe weather events. The Climate and Equitable Jobs Act and federal nuclear production tax credit have provided policy support, with the potential extension enabling significant additional carbon-free electricity generation in Illinois.

Portfolio Pulse from Benzinga Newsdesk

April 17, 2024 | 2:02 pm

Benzinga's Stock Whisper Index highlights five stocks: Rent the Runway (RENT), Rallybio Corp (RLYB), Constellation Energy Corp (CEG), Roblox Corp (RBLX), and Chipotle Mexican Grill (CMG). RENT's stock soared with positive Q4 results and guidance. RLYB shares jumped after a development agreement with Johnson & Johnson (JNJ). CEG's stock is up 148% over the past year, with strong Q4 results. RBLX is gaining interest ahead of Q1 results, partly due to a new advertising strategy with PubMatic Inc (PUBM). CMG's stock is near all-time highs, with a proposed 50-for-1 stock split.

Portfolio Pulse from Chris Katje

April 12, 2024 | 3:26 pm

Three energy stocks, Marathon Petroleum Corporation (MPC), NRG Energy, Inc. (NRG), and Valero Energy Corporation (VLO), are among the S&P 500's top 10 performers in 2024, driven by a 20% increase in oil prices tracked by the United States Oil Fund (USO) and a forecasted average Brent crude oil spot price of $89 per barrel. The Energy Select Sector SPDR Fund (XLE) has also seen a significant 16% increase year-to-date. Several large-cap U.S. energy companies, including Exxon Mobil Corp. (XOM), Chevron Corp. (CVX), and others, are set to report their Q1 2024 earnings by the end of April.

Portfolio Pulse from Piero Cingari

April 09, 2024 | 8:18 pm

Investors have shown a bullish stance on Constellation Energy (NASDAQ:CEG), with significant options activity indicating a target price range of $180.0 to $270.0. The sentiment among these trades is mostly bullish, with a total of 8 calls and 1 put. Analysts have maintained positive ratings on CEG, with an average price target of $192.25. The company's current market position shows a slight decrease in stock price, with an earnings announcement expected in 27 days.

Portfolio Pulse from Benzinga Insights

April 05, 2024 | 7:31 pm

Evercore ISI Group analyst Durgesh Chopra maintains an Outperform rating on Constellation Energy (NASDAQ:CEG) and raises the price target from $184 to $198.

Portfolio Pulse from Benzinga Newsdesk

April 04, 2024 | 4:37 pm

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