Constellation Energy (NASDAQ:CEG) stock has rallied over 89% year-to-date, driven by the company’s strong financial performance and rising demand for renewable energy. Buoyed by these factors, individual investors have a Very Positive view of the company, which means they expect the positive momentum in CEG stock to continue in the near term.
CEG provides electricity, natural gas, and energy management services. For a thorough assessment of the stock, go to TipRanks’ Stock Analysis page.
According to Tipranks data, the number of portfolios holding the stock increased by 27.8% in the last 30 days. Overall, among the 740,749 portfolios monitored by TipRanks, 0.2% have invested in Constellation Energy stock.
Learn more about TipRanks’ powerful Investor Sentiment tool here.
CEG: Q1 Earnings Snapshot
On May 9, the company reported adjusted operating earnings of $1.82 per share in Q1, which surpassed the consensus estimate of $1.30. Also, it compared favorably with earnings of $0.78 in the year-ago quarter. The bottom line benefited from lower fuel costs.
However, CEG’s revenue came in at $6.16 billion, down from $7.57 billion in the year-ago quarter and below the consensus estimate of $6.62 billion.
CEG Stock Boasts a “Perfect 10” Smart Score
Constellation Energy stock has received a “Perfect 10” Smart Score on TipRanks. It’s important to note that stocks with the “Perfect 10” score have historically surpassed the S&P 500 Index (SPX) by a significant margin.
According to our data, hedge funds and insiders are currently bullish on the stock. Also, it exhibits bullish bloggers’ sentiment and Positive News Sentiment.
Is CEG Stock a Buy?
Prospects for CEG seem bright due to the rising demand for Constellation’s nuclear power plants. Several companies have signed deals with CEG to provide renewable energy for their operations. Furthermore, tech giants are increasingly turning to the company to meet their vast energy requirements, particularly due to AI’s ever-rising power needs.
Overall, Wall Street is cautiously optimistic about the company. It has a Moderate Buy consensus rating based on seven Buy and four Hold ratings. The analysts’ average price target on CEG stock of $229.90 implies an upside potential of 4.31%.
