A significant driver of top-line growth: Constellation Energy Corporation (CEG)

Constellation Energy Corporation (NASDAQ: CEG) stock jumped 2.02% on Friday to $67.17 against a previous-day closing price of $65.84. With 2.28 million shares changed hands, the volume of the stock remained lighter than its average volume of 2.68 million shares. During the session, the Utilities – Renewable company that operates in wider Utilities sector, reached to the highest price of $67.38 whereas the lowest price it dropped to was $65.54. The 52-week range on CEG shows that it touched its highest point at $68.68 and its lowest point at $38.00 during that stretch. It currently has a 1-year price target of $68.27. With its current market cap of 18.44 billion, CEG has annualized dividend of $0.56 while the current yield stands at 0.84%.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of CEG was up-trending over the past week, with a rise of 20.96%, but this was up by 22.26% over a month. Three-month performance surged to 12.51% while six-month performance rose 34.93%. For the next quarter, that number is 0.54. This implies an EPS growth rate of -134.70% for this year and 62.24% for next year.

Float and Shares Shorts:

At present, 327.00 million CEG shares are outstanding with a float of 325.63 million shares on hand for trading. On Jul 14, 2022, short shares totaled 5.14 million, which was 1.57% higher than short shares on Jun 14, 2022. In addition to Mr. Phillip S. Barnett as the firm’s CFO of PECO Energy Company, Sr. VP of PECO Energy Company and Treasurer of PECO Energy Company, Mr. Joseph Dominguez serves as its Pres, CEO & Director.

Institutional Ownership:

Through their ownership of 80.93% of CEG’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 50.16% of CEG, in contrast to 29.51% held by mutual funds. Shares owned by individuals account for 0.04%. As the largest shareholder in CEG with 11.38% of the stake, The Vanguard Group, Inc. holds 37,170,927 shares worth 37,170,927. A second-largest stockholder of CEG, Capital Research & Management Co, holds 22,154,364 shares, controlling over 6.78% of the firm’s shares. SSgA Funds Management, Inc. is the third largest shareholder in CEG, holding 17,256,506 shares or 5.28% stake. With a 4.11% stake in CEG, the Washington Mutual Investors Fund is the largest stakeholder. A total of 13,414,825 shares are owned by the mutual fund manager. The Vanguard Total Stock Market Index, which owns about 2.95% of CEG stock, is the second-largest Mutual Fund holder. It holds 9,640,508 shares valued at 552.02 million. Vanguard 500 Index Fund holds 2.21% of the stake in CEG, owning 7,229,300 shares worth 413.95 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for CEG since 15 analysts follow the stock currently. There are 12 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 3 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With CEG analysts setting a high price target of $92.00 and a low target of $54.00, the average target price over the next 12 months is $68.00. Based on these targets, CEG could surge 36.97% to reach the target high and fall by -19.61% to reach the target low. Reaching the average price target will result in a growth of 1.24% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. CEG will report FY 2022 earnings on 03/01/2023. Analysts have provided yearly estimates in a range of $4.15 being high and $2.31 being low. For CEG, this leads to a yearly average estimate of $3.03. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Constellation Energy Corporation surprised analysts by -$0.34 when it reported $0.32 EPS against a consensus estimate of $0.66. Based on analyst estimates, the high estimate for the next quarter is $0.89 and the low estimate is $0.16. The average estimate for the next quarter is thus $0.55.

Dividends & Yield:

In terms of dividends, CEG has a current ratio of $0.56, which is $0.56 over the trailing 12-months. Dividend yield is another indicator that appeals to many investors, and CEG currently yields $0.42. In the past year, CEG’s dividend yield has been $0.42.

Summary of Insider Activity:

Insiders traded CEG stock several times over the past three months with 8 Buys and 0 Sells. In these transactions, 5,184 shares were bought while 0 shares were sold. The number of buy transactions has increased to 18 while that of sell transactions has risen to 1 over the past year. The total number of shares bought during that period was 33,207 while 8,878 shares were sold.

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