Constellation Energy Corporation [NASDAQ: CEG] stock went on an upward path that rose over 1.58% on Wednesday, amounting to a one-week price increase of more than 0.43%. The company report on April 3, 2024 at 11:10 AM that Moody’s Upgrades Constellation’s Credit Rating as Policy Support and Growing Demand for Clean Energy Fuel Strong Financial Performance.
Company’s long-term outlook improves with nuclear production tax credit and market recognition that nuclear energy is essential to clean energy transition.
Constellation’s credit rating has been upgraded by the credit rating firm Moody’s Investor Services (“Moody’s”) based on the company’s improved debt coverage metrics and strong financial performance driven by climate policies that recognize the value of nuclear as a reliable clean energy resource. Moody’s raised Constellation’s rating to Baa1 from Baa2 and assigned a stable outlook, which reflects confidence in the company’s ability to maintain its credit metrics and financial performance going forward. The largest producer of carbon-free energy in the U.S., Constellation has exceeded financial expectations since launching as an independent company two years ago. The upgrade by Moody’s follows two similar upgrades by ratings firm S&P Global Ratings (S&P) since the company separated from Exelon Corp. in 2022.
Over the last 12 months, CEG stock rose by 147.10%. The one-year Constellation Energy Corporation stock forecast points to a potential downside of -8.73. The average equity rating for CEG stock is currently 1.77, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $60.21 billion, with 317.00 million shares outstanding and 314.46 million shares in the current float. Compared to the average trading volume of 2.34M shares, CEG stock reached a trading volume of 3848606 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on Constellation Energy Corporation [CEG]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CEG shares is $175.73 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CEG stock is a recommendation set at 1.77. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
KeyBanc Capital Markets have made an estimate for Constellation Energy Corporation shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on February 28, 2024. The new note on the price target was released on November 29, 2023, representing the official price target for Constellation Energy Corporation stock. On February 22, 2023, analysts decreased their price target for CEG shares from 91 to 83.
The Average True Range (ATR) for Constellation Energy Corporation is set at 7.77, with the Price to Sales ratio for CEG stock in the period of the last 12 months amounting to 2.73. The Price to Book ratio for the last quarter was 5.54, with the Price to Cash per share for the same quarter was set at 1.44.
CEG Stock Performance Analysis:
Constellation Energy Corporation [CEG] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 0.43. With this latest performance, CEG shares gained by 13.80% in over the last four-week period, additionally plugging by 71.56% over the last 6 months – not to mention a rise of 147.10% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CEG stock in for the last two-week period is set at 66.02, with the RSI for the last a single of trading hit 63.63, and the three-weeks RSI is set at 67.37 for Constellation Energy Corporation [CEG]. The present Moving Average for the last 50 days of trading for this stock 159.44, while it was recorded at 189.47 for the last single week of trading, and 122.38 for the last 200 days.
Insight into Constellation Energy Corporation Fundamentals:
Constellation Energy Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.08 and a Current Ratio set at 1.31.
CEG Stock EPS
With the latest financial reports released by the company, Constellation Energy Corporation posted 0.29/share EPS, while the average EPS was predicted by analysts to be reported at 0.88/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -67.00%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for CEG. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Constellation Energy Corporation go to 26.30%.
Constellation Energy Corporation [CEG] Institutonal Ownership Details
The top three institutional holders of CEG stocks are: VANGUARD GROUP INC with ownership of 1.32 billion shares, which is approximately 8.4983%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $200.69 billion in CEG stocks shares; and BERKSHIRE HATHAWAY INC, currently with $174.35 billion in CEG stock with ownership which is approximately 5.8386%.
