#1 - Constellation Energy (NASDAQ:CEG)
If you’re researching nuclear energy stocks to buy, it’s good to start with a leader. Constellation Energy Corp. (NASDAQ: CEG) is the largest producer of carbon-free energy and the largest nuclear plant operator in the United States.
Investors have been treated to a 131% gain in the last 12 months. This raises the logical question: does the stock have further to climb?
In its June 2024 investor presentation, the company forecasts earnings to grow at a compound annual growth rate (CAGR) of more than 10% through 2028. Analysts project a 20% increase in earnings in the next 12 months but only assign a 9% increase to the stock’s price. That could be due to the premium that investors are paying. CEG currently trades for 28.8x earnings, which is in line with its forward P/E ratio.
However, Constellation has announced plans to potentially construct next-generation nuclear plants on its existing sites. The company is doing this specifically to meet the growing power needs of data centers.
About Constellation Energy
Constellation Energy Corporation generates and sells electricity in the United States. It operates through five segments: Mid-Atlantic, Midwest, New York, ERCOT, and Other Power Regions. The company sells natural gas, energy-related products, and sustainable solutions. It has approximately 33,094 megawatts of generating capacity consisting of nuclear, wind, solar, natural gas, and hydroelectric assets.
Read More - Current Price
- $285.52
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 8 Buy Ratings, 6 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $269.25 (5.7% Downside)
