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

Keybanc analyst Sangita Jain has upgraded Constellation Energy (NASDAQ:CEG) from Sector Weight to Overweight and set a new price target of $190.

Portfolio Pulse from Benzinga Newsdesk

February 28, 2024 | 7:58 pm

Morgan Stanley analyst David Arcaro maintains an Overweight rating on Constellation Energy (NASDAQ:CEG) and raises the price target from $141 to $166.

Portfolio Pulse from Benzinga Newsdesk

February 28, 2024 | 5:49 pm

On Tuesday, the S&P 500 and Nasdaq 100 saw declines, while small caps and certain biotech stocks experienced significant gains. The iShares Russell 2000 ETF (IWM) rose over 1%, marking its fourth consecutive session of gains. Durable goods orders fell more than expected, and oil prices reached their highest close since mid-November 2023. Bitcoin surged over 4%, reaching its highest level since December 2021. Major ETFs like SPY, DIA, and QQQ saw slight declines, while XLU outperformed. Biotech stocks Viking Therapeutics and Janux Therapeutics saw dramatic increases following positive trial results. Other notable stock movements included gains for Norwegian Cruise Line and Lowe's, and declines for Clarivate and American Tower.

Portfolio Pulse from Piero Cingari

February 27, 2024 | 7:18 pm

Constellation Energy's shares saw an increase following the announcement of their Q4 revenue, which surpassed expectations.

Portfolio Pulse from Benzinga Newsdesk

February 27, 2024 | 3:34 pm

Norwegian Cruise Line Holdings Ltd. (NCLH) saw its shares rise by 13% after reporting better-than-expected Q4 revenues of $1.99 billion. Other stocks also moved higher, including Janux Therapeutics (JANX) with a 145% increase after announcing updated clinical data, and Viking Therapeutics (VKTX) up 71.2% following successful trial results. Hims & Hers Health (HIMS) climbed 33.6% on strong Q4 results and guidance. Various other companies also reported gains following positive financial results or analyst ratings.

Portfolio Pulse from Avi Kapoor

February 27, 2024 | 3:28 pm

Constellation Energy (NASDAQ:CEG) reported a Q4 EPS of $(0.11), missing the $1.92 estimate, with sales of $5.80B surpassing the $5.67B estimate. This represents a 210% decrease in earnings and a 20.96% decrease in sales from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

February 27, 2024 | 11:35 am

Numerous companies are scheduled to report their earnings on February 27, 2024, covering a wide range of industries from technology and healthcare to energy and financial services. The report includes a mix of expected quarterly losses and earnings, highlighting the diverse financial health and performance outlooks within the corporate landscape.

Portfolio Pulse from Benzinga Insights

February 27, 2024 | 10:01 am

Bridgewater Associates, led by Ray Dalio, adjusted its portfolio in Q4 2023, making significant investments in tech and pharma sectors. New positions include AAPL, ORCL, CCI, CTRA, WFC, DAL, and LLY. The fund exited NFLX, TMO, MCHP, AKAM, and CEG. Notably, Bridgewater increased its NVDA stake by 458%, reflecting confidence in the tech sector, alongside investments in META, MSFT, and additional shares in GOOG. These strategic moves indicate a diversification and a bullish outlook on tech and healthcare.

Portfolio Pulse from Surbhi Jain

February 15, 2024 | 6:39 pm

Constellation has filed for a license renewal with the NRC for its Clinton Clean Energy Center in Illinois, aiming to extend its operation by 20 years, through 2047. This move is part of Constellation's efforts to support carbon-free energy production and the regional economy. The Clinton facility, which powers 800,000 homes, is a key part of Illinois' clean energy future, with the renewal potentially providing 179 terawatt hours of additional carbon-free electricity. The company has also made other investments in clean energy, including acquiring a stake in the South Texas Project and uprate projects in Illinois and Maryland.

Portfolio Pulse from Benzinga Newsdesk

February 15, 2024 | 6:01 pm

As of Feb. 8, 2024, four utilities stocks are considered overbought based on their RSI values, indicating potential short-term performance concerns. Korea Electric Power Corporation (KEP), Vistra Corp. (VST), Constellation Energy Corporation (CEG), and Otter Tail Corporation (OTTR) have all seen significant price gains recently, pushing their RSI values above 70, a level often considered overbought.

Portfolio Pulse from Avi Kapoor

February 08, 2024 | 12:03 pm

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