From Nasdaq: 2024-04-03 19:26:21

Nuclear energy is making a strong comeback in 2024, with Constellation Energy Group (CEG) emerging as the No. 3 stock on the S&P 500. The company aims to deliver clean, reliable, and affordable energy with its impressive portfolio of nuclear power plants. Analysts forecast further growth potential.

CEG made headlines at the COP28 climate summit by pledging to triple global zero-carbon nuclear energy output by 2050. Benefitting from a $6.1 billion federal funding plan to support struggling nuclear plants, CEG’s stock has surged 148% in the past 52 weeks. With a healthy dividend yield and strong financials, CEG is poised for growth.

In a bold move, Constellation issued a $900 million green bond to finance new nuclear projects and filed for license renewal for its Clinton Clean Energy Center. The company’s acquisition of a stake in the South Texas Project further solidifies its position in the nuclear energy sector. Wall Street remains cautiously optimistic about CEG’s future prospects.

Analysts expect CEG to report strong profits for the current quarter and are bullish on the stock’s performance. With a consensus rating of “moderate buy” and a mean price target of $151.90, the stock has room to rise further. As a key player in the nuclear energy renaissance, CEG presents an attractive opportunity for investors seeking exposure to the sector.



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