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Sophie Karp, Keybanc, joins 'Fast Money' to talk what Constellation's plan for reopening the nuclear plant at Three Mile Island could mean for the entire energy sector.
Nuclear energy stocks to check out in the stock market right now.
Constellation Energy Group plans to reopen Three Mile Island Unit 1. The electric utility will use the nuclear power plant to generate electricity for Microsoft server farms.
BALTIMORE--(BUSINESS WIRE)--Constellation's 21 nuclear reactors at 12 sites from the Midwest to the Mid-Atlantic and Northeast ran at nearly full power this summer.
Constellation Energy has strong nuclear capacity and IPP status, benefiting from rising electricity demand driven by AI and climate change. CEG's 10% earnings growth guidance is conservative, with potential upside from higher electricity prices and data center PPAs. I rate CEG a Hold due to moderate growth and topped valuation, preferring VST and TLN for better potential.
Constellation Energy's explosive growth is driven by a perfect storm of reduced supply, surging demand, and regulatory bottlenecks, leading to high grid auction prices. A significant portion of CEG's earnings growth is due to one-time factors, making the current 24X forward multiple appear overvalued. Future grid auction prices are expected to normalize, reducing CEG's projected 2026 earnings from $9.47 to a stabilized $8.22 per share.
Constellation Energy's stock has pulled back despite positive fundamentals, including earnings estimate increases since February of 35% for 2023 and 55% for 2030. The PJM capacity market's skyrocketing prices significantly benefit Constellation, boosting EPS forecasts by $0.25 in 2025 and $1.25 in 2026. With some analysts expecting capacity prices to double again in the next auction, there is even more upside potential for earnings.
TORONTO, Aug. 29, 2024 (GLOBE NEWSWIRE) -- Cerro Grande Mining Corporation (the “Company” or “CEG”) (CSE:CEG) reported its unaudited results for the third fiscal quarter ended June 30, 2024 compared to the same quarter in 2023. These financial statements and MD&A have been filed on SEDAR and the Company refers the reader to those materials for additional information.
Subscribers to Schaeffer's Weekend Trader options recommendation service received this CEG commentary on Sunday night, along with a detailed options trade recommendation -- including complete entry and exit parameters.
Investors often turn to recommendations made by Wall Street analysts before making a Buy, Sell, or Hold decision about a stock. While media reports about rating changes by these brokerage-firm employed (or sell-side) analysts often affect a stock's price, do they really matter?