Shares of Constellation Energy (CEG -1.56%) rocketed 71.3% in the first half of 2024, according to data from S&P Global Market Intelligence. That easily outperformed the S&P 500, which got off to a strong start by rallying 14.5% in the first half. The clean-energy producer's stock surged because of its strong financial outlook and a growing belief that technology companies will use nuclear energy to power their AI data centers. What powered Constellation Energy's first-half surge? The power company also set ...

This includes renewables, electric vehicles, nuclear power, low-emission fuels and efficiency improvements. The surge in the allocation to clean energy sources is indicative of the momentum behind global economies increasing their attention toward achieving net zero carbon emissions. NextEra Energy Partners LP (NEP) has completed several financing agreements to secure funds for acquisitions and improve financial flexibility. The passage of the Inflation Reduction Act and the use of new technology are helpin ...

The "Magnificent Seven" is the biggest engine of growth for the S&P 500, accounting for 31% of the weightage in the index. About 60% of the gains were driven by "mega-cap" tech companies — NVIDIA, Microsoft, Amazon, Meta Platforms and Apple. NVIDIA alone accounted for 31% of the market's first-half advance. With the latest surge, NVIDIA, Apple and Microsoft are in the race to become the world's most valuable company and hit a market capitalization of $4 trillion on surging enthusiasm over AI capabilities. T ...

That's where Constellation Energy comes into play. It's the country's largest producer of carbon-free energy due mainly to its leading nuclear fleet. The company could benefit from increasing demand for nuclear energy to power data centers in the coming years. That has helped fuel its massive rally over the past year. The AI investment frenzy has driven up semiconductor stocks like Nvidia. However, chip sellers aren't the only ones benefiting from the AI boom. One potential beneficiary that might come as a ...

Loading... Loading... While the broader market had its ups and downs in the first half of 2024, two utility stocks have defied expectations, delivering stellar returns and significantly outpacing their peers. The Utility sector, tracked by the SPDR Select Sector Fund – Utilities XLU, is up over 8% year-to-date, but Vistra Corp. VST and Constellation Energy Corp. CEG have soared to new heights, making them the standout performers in the sector. Vistra: A Shocking Surge Vistra has been the lightning bolt in t ...

The industry's position in the top 50% of the Zacks-ranked industries is due to a positive earnings outlook for the constituent companies in aggregate. Looking at the aggregate earnings estimate revisions, it appears that analysts have gained confidence in this group's earnings growth potential over the past few months. The industry's earnings estimate for the current fiscal year has moved up 4.1% to $1.78 per share since Apr 30. NextrEra Energy Partners: Based in Juno Beach, FL, it is a growth-oriented lim ...

From a valuation perspective, Constellation Energy Corporation is currently exchanging hands at a Forward P/E ratio of 28.65. This denotes a premium relative to the industry's average Forward P/E of 25.55. Investors should also note that CEG has a PEG ratio of 1.96 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Alternative Energy - Other industry had an average PEG ...

My colleague Ben Rains, who runs the Zacks Alternative Energy Innovators portfolio, bought CEG in late January and his members are enjoying the bulk of those gains as nuclear power regains its stature and attracts capital for long-term energy development projects. Constellation Energy is a nuclear energy titan that produces roughly 10% of all clean and renewable energy in the U.S. Constellation benefits from the energy-focused aspects of the Inflation Reduction Act, helping provide a price floor for nuclear ...

The the stock of company has risen by 0.84% in the past month, leading the Oils-Energy sector's loss of 7.24% and undershooting the S&P 500's gain of 3.71%. The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 2.08% higher. Constellation Energy Corporation ...

Constellation Energy Corporation's (CEG) strategic investments, focus on renewable energy, ability to boost shareholders' and rising estimates for earnings make it a solid investment option in the utility sector. Let's focus on the factors that make this Zacks Rank #1 (Strong Buy) company a strong investment pick at the moment. Growth Projections & Surprise History The Zacks Consensus Estimate for 2024 and 2025 earnings per share has moved up 2.8% and 6.4%, respectively, in the past 60 days. CEG's long-term ...