Constellation Energy Corporation generates and sells electricity in the United States. It operates through five segments: Mid-Atlantic, Midwest, New York, ERCOT, and Other Power Regions. The company sells natural gas, energy-related products, and sustainable solutions. It has approximately 33,094 megawatts of generating capacity consisting of nuclear, wind, solar, natural gas, and hydroelectric assets. It serves distribution utilities; municipalities; cooperatives; and commercial, industrial, governmental, and residential customers. The company was incorporated in 2021 and is headquartered in Baltimore, Maryland.

Constellation Energy Corporation

Key Points
Vistra and Constellation are locking in long-term deals with hyperscalers.
Both companies provide ample electricity from nuclear energy.
Data center growth is fueling their expansion.
If you're an investor looking for growth stocks in the energy sector, start by searching for companies that are benefiting from the increasing electricity demands of data centers and the increased use of nuclear power in the U.S.
Vistra (NYSE: VST) and Constellation Energy (NASDAQ: CEG) fit those descriptions, and both of their shares are worth holding on to for the next decade.
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Vistra sees long-term growth in serving hyperscalers
Vistra is the largest unregulated power producer in the U.S., and partners with Amazon (NASDAQ: AMZN) and Meta Platforms (NASDAQ: META) to help them meet their power needs. The Texas-based company generates 44,000 megawatts (MW) of energy through nuclear, natural gas, coal, and battery energy storage facilities. Its shares are down by a little more than 1% so far in 2026, but are up more than 46% over the past year.
In 2025, Vistra's revenue rose 2.9% to $17.7 billion, thanks to an AI-driven surge in electricity demand from data centers. Net income fell 52.5% to $233 million due to higher interest expenses and costs related to recent acquisitions.
The company is expected to close its $4 billion deal to buy Cogentrix Energy later this year, adding roughly 5,500 MW of natural gas-fueled generation capacity. It closed a 2,600 MW acquisition from Lotus Infrastructure Partners in November for $1.9 billion.
For 2026, management is guiding for adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) of $6.8 billion to $7.6 billion, which would be a 22% increase at the midpoint. Analysts currently project a one-year earnings per share (EPS) growth rate exceeding 230% as the company's newer nuclear agreements and natural gas expansions in the Permian Basin come online.
The company has a 20-year agreement to provide Amazon Web Services with up to 1,200 MW of electricity from its Comanche Peak Nuclear Power Plant, and a similar deal to provide 2,600 MW to Meta from a trio of nuclear plants.
One of the more subtle reasons to buy Vistra is its dividend. Thanks to the stock's rise, the yield has fallen from the 2.2% to 3.5% range it lived in just a few years ago to around 0.6% currently. However, the company has raised its payouts (admittedly, by small increments) for 17 consecutive quarters. Despite those increases, the payout ratio is only 41.2%, leaving it room for further dividend hikes.
Constellation Energy could be a star performer
Constellation, based in Baltimore, is the largest regulated producer of nuclear energy in the U.S., as well as the largest generator of carbon-free energy. Its revenue should grow, thanks in part to long-term deals with Microsoft (NASDAQ: MSFT) and Meta. The stock is up more than 49% over the past year, though down more than 14% so far in 2026.
In the fourth quarter, its adjusted operating EPS rose 8% year over year to $9.39, and revenue rose 12.9% to $6.07 billion.
Constellation has already made a big acquisition this year, buying Calpine, known for its natural gas and geothermal power facilities, for $16.4 billion. The company said the move will be accretive to its adjusted operating EPS by more than 20% in 2026 and add at least $2 to EPS in future years.
Also driving revenue growth will be its planned restart of the Unit 1 reactor at the Crane Clean Energy Center, formerly known as the Three Mile Island nuclear facility. With the aid of a $1 billion Department of Energy loan and a 20-year power purchase agreement with Microsoft, the project is expected to generate 835 MW. The company has a similar 20-year deal in the works with Meta for power from the Clinton Clean Energy Center in Illinois.
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James Halley has positions in Microsoft. The Motley Fool has positions in and recommends Amazon, Constellation Energy, Meta Platforms, and Microsoft. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

2 Monster Energy Stocks to Hold for the Next 10 Years

Key Points
Cameco is one of the planet's largest uranium miners with world-class assets.
BWX Technologies is a rapidly growing engineering company with a wealth of experience in small reactor technology.
Constellation Energy operates about one-fifth of America's nuclear reactor fleet, more than any other company.
Nuclear energy has been enjoying something of a renaissance in recent years. The United States, Japan, South Korea, China, and India are all investing heavily in expanding their nuclear reactor fleets and/or resuscitating decommissioned reactors.
Thus far, that demand for nuclear power was in large part driven by the power needs of data centers.
Will AI create the world's first trillionaire? Our team just released a report on the one little-known company, called an "Indispensable Monopoly" providing the critical technology Nvidia and Intel both need. Continue »
But the current volatility with oil due to the possibility of the Strait of Hormuz being closed or even possibly mined likely has many more countries looking into more nuclear power if they weren't already.
Fortunately for investors tired of oil volatility, there are several companies operating in the nuclear industry that are worth a look. Here are some of the best.
Fueling the future
Up first is Canada's Cameco (NYSE: CCJ), which is one of the largest uranium miners in the world.
It was responsible for 15% of all the uranium produced globally last year. It's the second-largest uranium miner in the world, behind only Kazatomprom, Kazakhstan's state-run miner.
Cameco operates both the largest high-grade uranium mine in the world at McArthur River and has one of the highest-grade uranium mines in the world at Cigar Lake.
On the back of uranium's 34% price growth over the past year, Cameco generated revenue of $3.4 billion, up 11% over 2024. It's also worth nothing that prior to the Iran conflict, uranium was the only energy resource that had gone up over the past year.
And, for operating in an industry as capital-intensive as mining is, Cameco still manages a net profit margin of 16.9% and has a very healthy debt-to-equity ratio of 0.14.
But Cameco does more than just mine uranium, though that is the core of its business and where it generates the bulk of its revenue.
The company also operates a uranium refinery and fuel production facilities, and it holds 49% of Westinghouse.
Westinghouse, which Cameco holds as a joint venture with Brookfield Asset Management, is an engineering company that designs and builds nuclear reactors like the AP1000, which is the most advanced commercially available reactor on the market.
With Cameco you have an investment in almost every part of the nuclear fuel production cycle, from the mines to the reactors to the uranium powers.
Pint-sized power plants
One of the most interesting developments in nuclear technology in recent years has been small modular reactors (SMRs), which are miniaturized nuclear power plants that could potentially power data center clusters and remote facilities.
And one of the best companies working on SMRs has over seven decades of experience building small-scale nuclear reactors: BWX Technologies (NYSE: BWXT).
Since the 1950s, when it designed components for America's first nuclear submarine, BWX has produced over 400 naval nuclear reactors. And, while there are currently no SMRs up and running anywhere in the world, BWX's BANR power plant is one of the most promising prototypes and would be capable of generating 50 megawatts of power from a factory-built plant a fraction of the size of a conventional nuclear plant.
There are other SMR companies developing the technology, but many of them are small companies that are solely focused on SMR technology. For BWX it's a project and not the core of its business.
So, BWX has reliable and growing revenue and is not reliant on an influx of investor dollars or a contract coming through to build its SMRs. That makes it a less risky prospect than pure-play SMR companies.
Speaking of, that revenue came in at $3.19 billion last year, up 18% over 2024 and the company's earnings per share (EPS) grew 20% over the same period. The company also maintains a strong net margin of 10.3%.
BWX is a leader in small reactor technology and a safer way to play the potential of SMRs than many of its competitors.
Star power
Finally, there's Constellation Energy (NASDAQ: CEG), which is the largest green energy producer in the United States and the country's largest producer of nuclear power.
There are currently 94 nuclear reactors in the United States spread across 54 power plants that collectively generate 20% of the country's electricity. Constellation operates 21 of them, or a little over 1/5 of America's entire nuclear reactor fleet.
For 2025, Constellation saw a solid revenue increase of 8% over 2024 and the company's adjusted operating EPS also grew 8%. It also maintains a net margin of 9.1% and pays a dividend that yields 0.83% at current prices.
And, the company announced a 10% increase in its dividend per share at the end of 2025 with another 10% increase planned this year.
With these three stocks, you give your portfolio exposure to every part of the nuclear industry, from the uranium mine to the reactor to the generation of power, and you'll be set to profit from nuclear energy's renaissance.
Should you buy stock in Cameco right now?
Before you buy stock in Cameco, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Cameco wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $514,000!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,105,029!*
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*Stock Advisor returns as of March 14, 2026.
James Hires has positions in BWX Technologies and Cameco. The Motley Fool has positions in and recommends BWX Technologies, Brookfield Asset Management, Cameco, and Constellation Energy. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

3 Top Nuclear Stocks to Buy Right Now

Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the State Street Utilities Select Sector SPDR ETF (Symbol: XLU) where we have detected an approximate $420.3 million dollar inflow -- that's a 1.8% increase week over week in outstanding units (from 516,348,320 to 525,448,320). Among the largest underlying components of XLU, in trading today Southern Company (Symbol: SO) is up about 1.8%, Constellation Energy Corp (Symbol: CEG) is up about 1%, and American Electric Power Co Inc (Symbol: AEP) is up by about 1%. For a complete list of holdings, visit the XLU Holdings page » The chart below shows the one year price performance of XLU, versus its 200 day moving average:
Looking at the chart above, XLU's low point in its 52 week range is $35.51 per share, with $47.80 as the 52 week high point — that compares with a last trade of $46.65. Comparing the most recent share price to the 200 day moving average can also be a useful technical analysis technique -- learn more about the 200 day moving average ».
Exchange traded funds (ETFs) trade just like stocks, but instead of ''shares'' investors are actually buying and selling ''units''. These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. Each week we monitor the week-over-week change in shares outstanding data, to keep a lookout for those ETFs experiencing notable inflows (many new units created) or outflows (many old units destroyed). Creation of new units will mean the underlying holdings of the ETF need to be purchased, while destruction of units involves selling underlying holdings, so large flows can also impact the individual components held within ETFs.
Also see:
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

State Street Utilities Select Sector SPDR ETF Experiences Big Inflow

GE Vernova Inc. GEV is expanding its manufacturing capabilities to address the rapidly rising global demand for grid infrastructure, renewable energy technologies and power-generation equipment. As countries accelerate electrification and transition toward cleaner energy systems, utilities and governments require large volumes of turbines, grid components and related equipment. By increasing production capacity, GE Vernova aims to ensure it can deliver these critical technologies at scale and on time.
GEV’s expanded manufacturing capacity strengthens supply security by reducing component shortages and supply-chain bottlenecks, helping ensure timely equipment delivery for grid and power projects. It also improves operational efficiency through streamlined production, lowering costs, shortening delivery times and enhancing product quality.
The company’s Wind business is investing nearly $100 million in its manufacturing facilities. In March 2026, GEV announced an investment of nearly $200 million to expand manufacturing capacity within its Electrification segment by establishing a new facility in Hai Phong, Vietnam. This investment is part of GE Vernova’s planned investments of $11 billion in capital expenditure and R&D through 2028. In March, announced a nearly $30 million investment to expand its electrification manufacturing facility in Sesto San Giovanni, Italy, to support rising global demand for electrification infrastructure.
Overall, these capacity expansions position GEV to better support global energy-transition efforts. As countries invest heavily in renewable energy, grid modernization and reliable power generation to support rising electricity demand, especially from data centers, the company’s expanded manufacturing network enables it to supply the technologies needed to build a more resilient and sustainable energy system.
Companies Expanding Operations to Meet Rising Power Demand
Some other companies that are also focused on expanding operations to support rising electricity demand have been discussed below:
Constellation Energy CEG is leveraging its nuclear fleet to provide reliable, 24/7 power for data centers. In February 2026, CEG’s unit, Calpine LLC, entered into a new over 1100 MW agreement with CyrusOne to support a new data center facility at Freestone Energy Center in Texas.
PG&E Corporation PCG plans to spend nearly $73 billion over the 2026-2030 period for transmission upgrades to meet the data center-led surge in electricity demand.
GEV Stock’s Earnings Estimates
The Zacks Consensus Estimate for 2026 EPS indicates a decline of 21.03% and that for 2027 implies an increase of 55.57% year over year.
Image Source: Zacks Investment Research
GEV Stock Trading at a Premium
GEV is trading at a premium relative to the industry, with a forward 12-month price-to-earnings of 54.84X compared with the industry average of 23.19X.
Image Source: Zacks Investment Research
GEV Stock’s Price Performance
In the past three months, the company’s shares have risen 24.4% compared with the industry’s 10.2% growth.
Image Source: Zacks Investment Research
GEV’s Zacks Rank
The company currently has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Zacks Names #1 Semiconductor Stock
This under-the-radar company specializes in semiconductor products that titans like NVIDIA don't build. It's uniquely positioned to take advantage of the next growth stage of this market. And it's just beginning to enter the spotlight, which is exactly where you want to be.
With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $971 billion by 2028.
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Can GE Vernova's Capacity Expansion Power the Global Energy Transition?

The escalating U.S.–Israel conflict with Iran has plunged global energy markets into turmoil, with the Strait of Hormuz — through which about 20% of the world’s crude oil passes — now effectively a war zone. As Tehran retaliates and Washington considers emergency sanctions relief to tame soaring gasoline prices, the fragility of fossil-fuel dependence has never been clearer.
Against this volatile backdrop, the crisis has fundamentally altered the ‘energy security’ conversation. The transition to non-fossil fuel sources is no longer just a climate goal but a matter of national survival.
In this high-stakes environment, nuclear energy is experiencing a powerful resurgence, positioning stocks like Cameco CCJ and Constellation Energy CEG, and by extension the exchange-traded funds (ETFs) that hold them, as potential vehicles for navigating the intensifying energy crisis.
Before examining these ETFs, it is important to understand how the current energy crisis is accelerating demand for nuclear power and influencing the long-term outlook. For prudent investors, this context explains why these funds warrant a place on their watchlist.
Energy Crisis Driving Nuclear Demand
The connection between Middle East turmoil and nuclear energy demand is stark. With oil prices spiking, nations across the globe are urgently seeking energy independence.
Moreover, the disruption to Gulf infrastructure, including the declaration of force majeure by major exporters like Qatar, has removed millions of tons of LNG from the monthly global output. This "supply vacuum" has been another major force driving industrial nations to accelerate their nuclear timelines to prevent a total economic standstill.
Evidently, European Commission president Ursula von der Leyen, at the recent Nuclear Energy Summit in Paris, described Europe’s previous retreat from nuclear as a “strategic mistake,” signaling a policy U-turn that favors reliable, homegrown baseload power. The EU is now pledging €200 million to support innovative nuclear technologies, particularly Small Modular Reactors (SMRs).
Bulgaria's Energy Minister has echoed this sentiment, emphasizing nuclear energy's role as a "stable, low-carbon baseload source" amid global supply risks. Notably, more than 10 EU countries have expressed interest in developing and deploying SMRs over the next decade in their national energy and climate plans at the Paris summit (as cited in Euro news).
The logic behind this is simple: when oil and gas become weapons of geopolitical instability, uranium-fueled power generated domestically becomes invaluable. Unlike fossil fuels tied to the Middle East, nuclear energy supplied by top global producers like France and Canada provides a strategic buffer as their production sits safely outside the current war zones.
Will Nuclear’s Rally Continue in the Future?
While the current war scenario has set the stage for sustained nuclear industry expansion, it has been witnessing a solid rally before the escalation of the Middle East conflict, thanks to nuclear’s crucial role in the AI industry.
As major tech firms like Amazon, Google and Microsoft are investing heavily in nuclear power, including SMRs, to operate their power-intensive AI data centers, the use of increased nuclear energy as a source of power will remain even after this war ends.
To this end, analysts at Bernstein have projected uranium prices to remain structurally higher due to supply tightness and surging demand, with nuclear's role as an "AI agent" for data center power. This, in turn, should continue to fuel nuclear’s boom in the future, boosting the nuclear industry’s prospects.
Nuclear ETFs in Spotlight
For investors, this convergence of energy insecurity, policy support, and technological innovation creates a compelling case for putting the following nuclear and uranium-focused ETFs into the spotlight.
VanEck Uranium and Nuclear ETF NLR
This fund, with net assets worth $4.77 billion, offers exposure to 28 companies engaged in uranium mining or uranium mining projects; the construction, engineering, and maintenance of nuclear power facilities and nuclear reactors; and the production of electricity from nuclear sources. Its top three holdings include CCJ (9.07% weight), Denison Mines (6.13%) and CEG (5.93%).
NLR has surged 91.6% over the past year. The fund charges 56 basis points (bps) as fees.
Global X Uranium ETF URA
This fund, with net assets worth $7.16 billion, offers exposure to 52 companies that are engaged in uranium mining and the production of nuclear components, including the extraction, refining, exploration, or manufacturing of equipment for the uranium and nuclear industries. Its top three holdings include CCJ (23.49%), Oklo Inc. OKLO (6.84%) and Nexgen Energy (6.82%).
URA has soared 129.4% over the past year. The fund charges 69 bps as fees.
Themes Uranium & Nuclear ETF URAN
This fund offers exposure to 43 companies that derive their revenues from uranium mining, exploration, refining, processing, and royalties, along with nuclear energy, equipment, technology and infrastructure. Its top three holdings include CCJ (9.85%), CEG (6.50%) and Paladin Energy (4.06%).
URAN has rallied 75.9% over the past year. The fund charges 35 bps as fees.
Range Nuclear Renaissance Index ETF NUKZ
This fund, with net assets worth $835.3 million, offers exposure 45 companies that are involved in the following segments: advanced reactor, utilities, construction & services, and fuel. Its top three holdings include CCJ (10.49%), CEG (6.85%) and GE Vernova GEV (3.64%).
NUKZ has gained 77.7% over the past year. The fund charges 85 bps as fees.
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Nuclear ETFs in Spotlight as Middle East Conflict Intensifies Energy Crisis

In the latest trading session, Constellation Energy Corporation (CEG) closed at $300.69, marking a -5.17% move from the previous day. This move lagged the S&P 500's daily loss of 0.08%. Elsewhere, the Dow lost 0.61%, while the tech-heavy Nasdaq added 0.08%.
Heading into today, shares of the company had gained 16.95% over the past month, outpacing the Oils-Energy sector's gain of 5.48% and the S&P 500's loss of 2.16%.
Market participants will be closely following the financial results of Constellation Energy Corporation in its upcoming release. In that report, analysts expect Constellation Energy Corporation to post earnings of $2.7 per share. This would mark year-over-year growth of 26.17%. At the same time, our most recent consensus estimate is projecting a revenue of $10.82 billion, reflecting a 59.36% rise from the equivalent quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $11.63 per share and revenue of $38.71 billion, indicating changes of +23.86% and +51.6%, respectively, compared to the previous year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Constellation Energy Corporation. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 2.35% higher. Constellation Energy Corporation is currently a Zacks Rank #3 (Hold).
Looking at valuation, Constellation Energy Corporation is presently trading at a Forward P/E ratio of 27.28. This denotes a premium relative to the industry average Forward P/E of 19.04.
Investors should also note that CEG has a PEG ratio of 1.77 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The average PEG ratio for the Alternative Energy - Other industry stood at 1.77 at the close of the market yesterday.
The Alternative Energy - Other industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 151, which puts it in the bottom 39% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Senior Stock Strategist Kevin Cook reveals 7 carefully selected stocks poised to dominate the quantum computing landscape in his report, Beyond AI: The Quantum Leap in Computing Power.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Constellation Energy Corporation (CEG) Registers a Bigger Fall Than the Market: Important Facts to Note

Key Points
Electricity prices fell month-over-month, even as long-term bond yields rose.
The combination sent the utility sector down for the day.
Constellation, as one of the higher-valued power producers, fell more than the group.
Shares of Constellation Energy (NASDAQ: CEG) fell 5.2% on Wednesday.
Constellation has been a hot stock over the past year, as it's the largest U.S.-based nuclear power provider; additionally, Constellation just closed its acquisition of Calpine, which was more concentrated in natural gas and geothermal power, turning the company into a true energy powerhouse.
Will AI create the world's first trillionaire? Our team just released a report on the one little-known company, called an "Indispensable Monopoly" providing the critical technology Nvidia and Intel both need. Continue »
However, shares fell today after the February Consumer Price Index (CPI) report showed a somewhat surprising month-over-month decline in electricity prices, even as long-term bond yields rose.
Electricity prices fall in February, but are still up year-over-year
Today, the Bureau of Labor Statistics released the February CPI report. While overall inflation grew 0.3% month-over-month and 2.4% year-over-year, the pertinent item for Constellation is the electricity category, where prices fell 0.7% month over month.
The decline was due to warmer February weather after January's winter storms, but the decline still may have surprised investors, given that electricity prices have been a concern amid rising demand from AI data centers. As a result, the entire utility sector was generally lower today.
Also contributing to the sector's decline might have been the rise in 10-year Treasury Bond yields, which increased seven basis points to 4.2%. The war in Iran is pushing up oil prices and perhaps future inflation expectations, despite President Trump's talk that the operation will end "soon" and the news that the International Energy Agency agreed to release 400 million barrels of oil from the strategic petroleum reserve today to stem the rise in oil prices.
Utility stocks are generally seen as "safe" stocks that investors buy for their dividend yields. However, the AI infrastructure build-out has caused investors to give utilities and power producers higher growth multiples over the past couple years. Still, higher Treasury Bond rates may be contributing to today's decline in utility stocks, given that utility stocks "compete" somewhat with bonds for investor attention.
Combine that with the fact that Constellation had garnered one of the highest multiples in the industry, at 41 times earnings, and it's no surprise to see the stock selling off harder than usual, despite no company-specific news.
Could this be a buy-the-dip moment?
Despite the month-over-month decline, electricity prices were still up 4.8% on the year, which is higher, obviously, than the overall 2.4% inflation rate for the overall economy. Looking ahead, Constellation's medium-term growth outlook still remains solid, given the high demand for clean energy to power AI data centers, especially nuclear and natural gas, of which Constellation has in spades.
However, there is increasing regulatory risk here. In January, for instance, the Trump Administration, local governors, and the PJM interstate transmission region authorities agreed to cap rate increases on existing power plants while forcing tech companies to backstop the construction of new power sources.
These measures could cap Constellation's growth rate in the near-term, but may also extend that growth runway as tech-backed power plants are constructed.
Overall, Constellation remains a lower-risk way to play AI's electricity demand boom, though it might not have as much upside as other tech plays in the space, especially at Constellation's current valuation.
Should you buy stock in Constellation Energy right now?
Before you buy stock in Constellation Energy, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Constellation Energy wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $522,791!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,132,678!*
Now, it’s worth noting Stock Advisor’s total average return is 952% — a market-crushing outperformance compared to 191% for the S&P 500. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors.
*Stock Advisor returns as of March 11, 2026.
Billy Duberstein and/or his clients have no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Constellation Energy. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Why Constellation Energy Plunged Today

In early trading on Wednesday, shares of Datadog topped the list of the day's best performing components of the Nasdaq 100 index, trading up 2.9%. Year to date, Datadog has lost about 6.9% of its value.
And the worst performing Nasdaq 100 component thus far on the day is Diamondback Energy, trading down 2.4%. Diamondback Energy is showing a gain of 15.8% looking at the year to date performance.
Two other components making moves today are Constellation Energy, trading down 2.2%, and Strategy, trading up 2.7% on the day.
VIDEO: Nasdaq 100 Movers: FANG, DDOG
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Nasdaq 100 Movers: FANG, DDOG

Key Points
Constellation's long-term deals with Meta Platforms and Microsoft give it impressive revenue visibility.
GE Vernova has a massive $150 billion backlog for its gas turbines, grid equipment, and wind systems.
Both companies are well-positioned to benefit from surging electricity demand driven by data centers.
Nvidia (NASDAQ: NVDA) reported strong earnings on Feb. 26, yet the stock dropped over 9% from its pre-earnings level by Feb. 27. While the shares have been recovering slightly, they are still trading below their pre-earnings price.
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Investors are now focusing less on near-term results and more on the sustainability of artificial intelligence (AI) capital expenditures (capex). They are also concerned about the rising competitive pressures. As hyperscalers and enterprises increasingly shift from AI training to inference (real-time deployment of AI models in production environments), some believe this could create more room for competing chipmakers.
In this environment, investors may want to look beyond semiconductor and AI stocks and opt for energy stocks. Constellation Energy (NASDAQ: CEG) and GE Vernova (NYSE: GEV) are two such growth stocks well-positioned to benefit from the expected long-term rise in U.S. electricity demand. Both are also relatively insulated from Middle East-related oil supply disruptions, as these businesses operate mainly in the U.S. power markets.
1. Constellation Energy
Constellation Energy has become one of the largest electricity producers in the U.S. after completing its acquisition of Calpine in January 2026. The acquisition combined Constellation Energy's zero-emission nuclear generation with Calpine's natural gas and geothermal assets. Constellation Energy now operates 55 gigawatts of generation capacity and serves nearly 2.5 million retail and business customers. The deal has also expanded the company's footprint in fast-growing power markets like Texas and California.
The most significant catalyst for Constellation Energy is the surging electricity demand, mainly from data centers. The company has already signed a 20-year purchase agreement with Meta Platforms for nearly 1,121 megawatts of nuclear energy from its Clinton Clean Energy Center, with deliveries expected to begin June 2027. This agreement supports relicensing and continued operations at the Clinton nuclear facility for another two decades after the expiration of the state Zero Emission Credit subsidy program.
The company has also contracted with Microsoft under a 20-year agreement to support the restart of Three Mile Island Unit 1, also known as Crane Clean Energy Center. Expected to come online in 2028, this project will add over 800 megawatts of carbon-free electricity to the power grid. Together, these agreements provide exceptional long-term revenue visibility powered by data center demand.
Constellation Energy is also benefiting from rising capacity payments and wholesale electricity prices in key power markets, where many of the company's nuclear facilities operate. Wholesale prices determine how much the company earns when it sells electricity into competitive markets, while capacity payments compensate power plants for being available to supply power during periods of high demand.
The company's recent financials highlight its robust operating momentum. In the fourth quarter of fiscal 2025, the company's revenue of $6.07 billion surpassed the consensus estimate of $5.6 billion, while adjusted earnings per share of $2.30 were better than the consensus estimate of $2.25.
Constellation Energy, however, is not without risks. The company's earnings are sensitive to power price volatility. It is exposed to outage and regulatory risks associated with nuclear operations. Finally, the company is trading at nearly 23.8 times forward earnings, which is quite expensive for a utility stock.
Yet considering its long-term revenue visibility and operational strength, the stock appears a smart pick even at these premium valuation levels.
2. GE Vernova
GE Vernova is a global power and electrification company that builds gas turbines, grid equipment, and wind systems and provides long-term power plant services. The company plays a crucial role in electricity generation and its movement across the grid. Hence, it has become a significant beneficiary of the increasing power demand driven by data centers, AI infrastructure, and electrification.
The company ended 2025 with a contractual backlog of $150 billion, up 25% year over year. Of this, the equipment backlog was worth $64 billion, up 50% year over year. GE Vernova is seeing profitable order growth in its Power and Electrification businesses, driven by accelerating demand and favorable pricing. As these higher-margin orders are delivered over the next few years, they will also boost the company's earnings.
Demand for gas power remains strong. In the fourth quarter, GE Vernova signed contracts tied to 24 gigawatts of new gas turbine capacity, meaning the company's equipment will be used to generate that amount of new electricity at upcoming power plants. By the end of fiscal 2025, GE Vernova's total gas equipment backlog and slot reservations reached 83 gigawatts. That included turbines already ordered as well as customers reserving future manufacturing slots for equipment needed to generate power.
Management expects that backlog to reach 100 gigawatts in 2026. Plus, since new slot reservations are booked at higher pricing levels, this will further boost the company's overall margins.
Beyond equipment sales, GE Vernova has also built a high-margin, recurring, long-term services business. The company exited fiscal 2025 with a power services backlog of $70 billion, associated with turbine maintenance and upgrades.
GE Vernova generated $38 billion in revenues and $3.7 billion in free cash flow in fiscal 2025. The company is guiding for revenue in the range of $44 billion to $45 billion and free cash flow in the range of $5 billion to $5.5 billion for fiscal 2026.
Currently, the shares trade at nearly 37.4 times forward earnings, which is steep. However, considering its strong backlog, improving margin profile, and exposure to long-term electricity demand, I believe the stock is an attractive buy now.
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Manali Pradhan, CFA has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Constellation Energy, GE Vernova, Meta Platforms, Microsoft, and Nvidia. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Top 2 Growth Stocks to Buy After Nvidia's Latest Sell-Off

Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the State Street Utilities Select Sector SPDR ETF (Symbol: XLU) where we have detected an approximate $291.8 million dollar inflow -- that's a 1.2% increase week over week in outstanding units (from 510,148,320 to 516,348,320). Among the largest underlying components of XLU, in trading today Constellation Energy Corp (Symbol: CEG) is down about 0.2%, American Electric Power Co Inc (Symbol: AEP) is up about 0.3%, and Sempra (Symbol: SRE) is relatively unchanged. For a complete list of holdings, visit the XLU Holdings page » The chart below shows the one year price performance of XLU, versus its 200 day moving average:
Looking at the chart above, XLU's low point in its 52 week range is $35.51 per share, with $47.80 as the 52 week high point — that compares with a last trade of $47.17. Comparing the most recent share price to the 200 day moving average can also be a useful technical analysis technique -- learn more about the 200 day moving average ».
Exchange traded funds (ETFs) trade just like stocks, but instead of ''shares'' investors are actually buying and selling ''units''. These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. Each week we monitor the week-over-week change in shares outstanding data, to keep a lookout for those ETFs experiencing notable inflows (many new units created) or outflows (many old units destroyed). Creation of new units will mean the underlying holdings of the ETF need to be purchased, while destruction of units involves selling underlying holdings, so large flows can also impact the individual components held within ETFs.
Also see:
FLN Historical Stock Prices
AHRN shares outstanding history
HEC shares outstanding history
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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