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

Smart money investors have shown a significant interest in Constellation Energy (NASDAQ:CEG) options, with a mix of bullish and bearish sentiments. Benzinga's options scanner revealed 14 unusual trades, indicating a potential price movement between $140 and $260. The trading volume and open interest analysis suggest a keen investor interest in CEG's options. Currently, CEG's stock is slightly up, with an earnings announcement expected in 31 days. Analysts from Morgan Stanley, Wells Fargo, and UBS have given positive ratings, with price targets ranging from $185 to $201.

Portfolio Pulse from Benzinga Insights

April 01, 2024 | 8:15 pm

Constellation Energy's (NYSE:CEG) short interest has increased by 7.6%, with 5.17 million shares sold short, representing 1.84% of its float. This indicates a bearish market sentiment, although it has less short interest compared to its peers' average of 2.71%. The rise in short interest doesn't necessarily predict a price drop but suggests increased bearishness among traders.

Portfolio Pulse from Benzinga Insights

March 27, 2024 | 7:00 pm

Investors have shown a bearish stance on Constellation Energy (NASDAQ:CEG), with significant options trading activity indicating a mixed sentiment. Benzinga's options scanner revealed 53 unusual trades, with a split sentiment of 43% bullish and 56% bearish. The trades focus on a price range between $170.0 and $250.0. Significant options trades include both calls and puts with varying sentiments and expiration dates. The current market status of CEG shows a slight decrease in price, with analysts giving mixed but generally positive ratings.

Portfolio Pulse from Benzinga Insights

March 26, 2024 | 8:45 pm

Morgan Stanley analyst David Arcaro maintains an Overweight rating on Constellation Energy (NASDAQ:CEG) and raises the price target from $166 to $193.

Portfolio Pulse from Benzinga Newsdesk

March 26, 2024 | 3:02 pm

Constellation Energy's stock is trading higher following Morgan Stanley's reaffirmation of an Overweight rating and a $193 price target.

Portfolio Pulse from Benzinga Newsdesk

March 25, 2024 | 6:59 pm

Morgan Stanley analyst David Arcaro maintains an Overweight rating on Constellation Energy (NASDAQ:CEG) with a $193 price target.

Portfolio Pulse from Benzinga Newsdesk

March 25, 2024 | 6:20 pm

As of March 20, 2024, three utilities stocks, Constellation Energy Corporation (CEG), Vistra Corp. (VST), and NRG Energy, Inc. (NRG), are considered overbought based on their RSI values, indicating potential short-term performance concerns. CEG's RSI is at 70.29, VST's at 77.02, and NRG's at 87.45. These stocks have seen significant gains over the past month, with CEG up 31%, VST up 38%, and NRG up 29%.

Portfolio Pulse from Avi Kapoor

March 20, 2024 | 11:31 am

Wells Fargo analyst Neil Kalton has maintained an Overweight rating on Constellation Energy (NASDAQ:CEG) and increased the price target from $175 to $185.

Portfolio Pulse from Benzinga Newsdesk

March 19, 2024 | 10:42 am

Constellation (NASDAQ:CEG) has issued the first corporate green bond in the U.S. for $900 million with a 30-year term to finance nuclear energy projects. This initiative underscores the role of nuclear energy in achieving sustainability goals and marks a significant step in green financing. The bond will fund investments in maintenance, expansion, and life extensions of nuclear power generation. Crédit Agricole CIB served as the Green Structuring agent for this offering, which aligns with the Green Bond Principles and Green Loan Principles.

Portfolio Pulse from Happy Mohamed

March 18, 2024 | 12:22 pm

Tesla Inc (TSLA) has become the worst-performing stock in the S&P 500 Index year-to-date in 2024, down 34.4%, amidst concerns of slower EV demand and production issues. Analysts have downgraded the stock and lowered price targets, with UBS cutting its price target from $225 to $165 and Wells Fargo from $200 to $125. The SPDR S&P 500 ETF Trust (SPY) is up 8.3% YTD, supported by the Magnificent 7 stocks, despite Tesla's underperformance. Other notable performers include Nvidia (NVDA) and Meta Platforms (META), with significant gains.

Portfolio Pulse from Chris Katje

March 14, 2024 | 8:02 pm

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