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

Сильный индекс, значительно упал. Быки в растерянности.

Strong index, significantly down. The bulls are confused.

Средний индекс, значительно упал. Рынок не поддерживает быков.

Medium index, significantly down. The market does not support the bulls.

Сильный индекс, значительно упал. Отток средств из лонгов на высоком уровне.

Strong index, significantly down. Outflow of funds from longs at a high level.

The signing of a landmark civilian nuclear agreement between the United States and Saudi Arabia last week marks a key turning point for the global energy landscape. This 30-year, multibillion-dollar deal, finalized on July 22, 2026, opens the door for U.S. companies to build Saudi Arabia’s nuclear infrastructure, including potential uranium enrichment capabilities.
Consequently, investors seeking to capitalize on the long-term growth opportunities stemming from this bilateral accord, which is expected to provide a significant boost to the nuclear power ecosystem, may consider increasing their exposure to nuclear-focused exchange-traded funds (ETFs).
But before we dive into the specifics of these ETFs, it is essential to examine the macroeconomic rationale driving the deal, identify the core corporate beneficiaries, and understand why broad-based ETFs offer a prudent investment approach. This will enable prudent investors to assess this emerging opportunity and make an informed decision.
The Strategic Rationale Behind the Deal
The landmark agreement mentioned above serves both geopolitical and macroeconomic objectives for America and Saudi Arabia amid an evolving global energy transition and shifting geopolitical alignments.
For Saudi Arabia, it is a cornerstone of its Vision 2030 plan to diversify its economy beyond fossil fuels, reduce domestic oil consumption, and meet soaring electricity demands driven by AI and data centers.
For the United States, this agreement, apart from strengthening Washington’s strategic partnership with Riyadh, aims to ensure that American non-proliferation standards and technological architectures (rather than Russian or Chinese alternatives) dominate the Middle East’s nuclear infrastructure for decades to come.
In particular, this partnership provides a massive, multi-decade commercial pipeline, rejuvenating domestic manufacturing, technological innovation, and enrichment capabilities, thereby serving as a powerful growth catalyst for the U.S. nuclear industry.
Key Nuclear Stocks Poised to Benefit
Several nuclear market leaders are uniquely positioned to reap substantial gains from the deployment of reactor fleets and fuel services arising from the latest U.S.-Saudi Arabia deal.
For example, Westinghouse, developer of the AP1000 reactor, with nearly half of the operating nuclear reactors worldwide relying on its technology, can be expected to be a major winner, with its parent company Cameco CCJ seeing direct benefits. Notably, Cameco is one of the largest global providers of uranium fuel needed to operate nuclear power plants.
Pure-play utility companies, such as Constellation Energy CEG, which generate electricity from nuclear power, also stand to benefit from the agreement.
Other key players poised to benefit from this agreement include nuclear technology and equipment suppliers like BWX Technologies BWXT and Centrus Energy LEU. BWXT’s subsidiary Nuclear Fuel Services (“NFS”) is a leading manufacturer of fuel material for all naval nuclear reactors used in U.S. submarines and aircraft carriers, while Centrus Energy is a global supplier of enriched uranium fuel for civilian nuclear power reactors.
Companies like Oklo OKLO are also positioned as key players in the growing advanced reactor space, which Saudi Arabia may explore as part of its commercial nuclear program.
A Game Changer for Nuclear ETFs?
While individual stocks like those mentioned above offer high-reward potential, direct stock investment comes with operational risk, regulatory scrutiny, and lengthy licensing timelines. On the contrary, nuclear ETFs offer a more prudent approach by providing diversified exposure across the entire value chain — from uranium miners to reactor builders and utility operators. This diversification helps mitigate single-stock volatility while capturing the broader industry’s profitability.
For instance, while a pure-play uranium miner might be highly sensitive to commodity price swings, a fund that includes established utility companies can offer more stable returns.
Against this backdrop, investors may consider increasing their exposure to the following ETFs for a comprehensive value-chain diversification:
Global X Uranium ETF URA
This fund, with net assets worth $5.40 billion, offers exposure to 53 companies involved in uranium mining and the production of nuclear components, including businesses engaged in extraction, refining, exploration, or manufacturing of equipment for the uranium and nuclear industries. CCJ (with 23.39% weightage in the fund), Nexgen Energy (6.55%) and OKLO (5.69%) hold the first three spots in this fund.
LEU (3.43%) holds the seventh position. It charges 69 basis points (bps) as fees and traded at a volume of 3.19 million shares in the last trading session.
VanEck Uranium and Nuclear ETF NLR
This fund, with net assets worth $3.78 billion, offers exposure to 28 companies involved in uranium mining; the construction, engineering and maintenance of nuclear power facilities and nuclear reactors; the production of electricity from nuclear sources; or providing equipment, technology and/or services to the nuclear power industry. CEG (9.22%), CCJ (7.78%) and Public Service Enterprise Group Inc (7.30%) hold the first three spots in this fund.
BWXT (6.49%) holds the fourth spot in NLR, while LEU (5.59%) holds the sixth position. It charges 52 bps as fees and traded at a volume of 0.44 million shares in the last trading session.
Sprott Uranium Miners ETF URNM
This fund, with net assets worth $1.76 billion, offers exposure to 25 companies involved in mining, exploration, development and production of uranium, or holding physical uranium, owning uranium royalties or engaging in other non-mining activities that support the uranium mining industry. CCJ (19.68%) holds the first spot in this fund, while Nexgen Energy (12.87%) holds the third spot.
It charges 75 bps as fees and traded at a volume of 0.30 million shares in the last trading session.
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US-Saudi Sign Landmark Atomic Deal: A Game Changer for Nuclear ETFs?

Constellation Energy CEG, through its disciplined capital allocation strategy, deploys cash toward growth investments while increasing shareholder value through dividends and share repurchases. The company is strategically investing capital in high-return growth projects to expand earnings, strengthen cash flow and create long-term shareholder value.
CEG increased its share repurchase authorization to $5 billion and repurchased approximately 1.2 million shares during the first quarter, reflecting management's confidence in its long-term earnings and cash flow generation. Share repurchases reduce outstanding shares, improve earnings per share (EPS) and support long-term shareholder value. The company has deployed nearly $2.7 billion to repurchase 18.5 million shares since its separation from Exelon.
By acquiring Calpine, Constellation Energy expanded its clean power generation portfolio. The company also highlighted strong free cash flow to support strategic growth investments and disciplined capital allocation.
Constellation Energy plans to make capital expenditures of nearly $5.7 billion and $4.7 billion in 2026 and 2027, respectively. These investments are expected to support rising electricity demand, particularly from AI-driven data centers, while strengthening long-term cash flow.
Overall, Constellation Energy's balanced approach of investing in growth while returning excess cash to shareholders enhances earnings visibility, strengthens competitive positioning and supports long-term shareholder value creation.
Capital Allocation Fuels Shareholder Returns
Capital allocation enhances shareholder returns by balancing strategic growth investments with disciplined cash deployment. Utilities invest in grid modernization while returning excess cash through dividends and share repurchases. This balanced approach supports earnings growth, increases per-share value and creates long-term shareholder value.
NRG Energy, Inc. NRG balances shareholder returns with growth investments through its disciplined capital allocation strategy, targeting approximately $1.4 billion in share repurchases and dividends alongside about $310 million of growth investments in 2026.
Vistra VST returned about $600 million to shareholders through dividends and share repurchases by May 1, 2026. Since 2021, it has repurchased $6.3 billion of shares, lowering its outstanding share count by 30%, while retaining $1.5 billion under its repurchase authorization through 2027
The Zacks Rundown on CEG
CEG’s Earnings Estimates
The Zacks Consensus Estimate for 2026 and 2027 EPS indicates an increase of 25.03% and 16.02%, respectively, year over year.
Image Source: Zacks Investment Research
CEG’s Returns on Equity (ROE)
Constellation Energy's trailing-12-month ROE is 16.81%, ahead of the industry average of 7.15%.
Image Source: Zacks Investment Research
CEG’s Stock Price Performance
In the past three months, the company’s shares have plunged 12.8% compared with the industry’s 13.6% fall.
Image Source: Zacks Investment Research
CEG’s Zacks Rank
CEG currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Beyond Nvidia: AI's Second Wave Is Here
The AI revolution has already minted millionaires. But the stocks everyone knows about aren't likely to keep delivering the biggest profits. AI’s second wave is moving from infrastructure to implementation and these companies are at the forefront of this transition, positioned to become what Amazon and Google were to the internet era.
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Can CEG's Capital Allocation Strategy Enhance Shareholder Value?

Key Points
In May 2025, Donald Trump signed an executive order to speed up the development of nuclear power in the United States.
The goal is to increase U.S. nuclear capacity from 100 gigawatts to 400 gigawatts by 2050.
Nuclear power is carbon-free, so it is technically a clean power source. And it is always on, so it is a reliable base-load power source. With power demand expected to grow 60% over the next 20 years, up from 10% over the last 20 years, nuclear is increasingly seen as a key part of the supply equation. One big story investors don't want to miss is the huge support the nuclear power industry is getting from the U.S. government.
Massive growth plans for nuclear power
The U.S. nuclear power fleet produces around 100 gigawatts of power today. The goal of Donald Trump's May 2025 executive order is to reach 400 gigawatts by 2050. There will be many steps in that process, including on the regulatory and financing fronts. Already, the groundwork has been laid to test new reactor technologies and to provide funding for both nuclear power start-ups and existing nuclear power companies seeking to expand.
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There are several ways for an investor to play the sector. For investors that don't want to jump in with both feet, a picks-and-shovels option like Cameco (NYSE: CCJ) or Brookfield Renewable (NYSE: BEP)(NYSE: BEPC) could be a good choice. While neither is directly benefiting from U.S. government support, Cameco produces and sells uranium. Industry growth is inherently positive for the company. Brookfield Renewable shares ownership of Westinghouse with Cameco. Westinghouse is one of the largest service providers to the nuclear power industry. Again, more nuclear power means more business for Westinghouse.
If you want direct exposure, a more supportive regulatory environment will help Constellation Energy (NASDAQ: CEG) reopen shuttered power plants and sustain operations at plants scheduled for shutdown. It already has deals with Walmart (NASDAQ: WMT) and Meta (NASDAQ: META) to support its nuclear power plant operations. Notably, the U.S. government has provided Constellation with a $1 billion loan tied to its nuclear power ambitions.
Then there are emerging new technologies, like the small modular nuclear reactors (SMR) that NuScale Power (NYSE: SMR) is looking to build. It will also benefit from increased regulatory support, as highlighted by the recent approval of a higher-capacity system the company has built. NuScale is already working with a Romanian utility and with the Tennessee Valley Authority on the potential deployment of its first SMRs. NuScale is a money-losing start-up, so only the most aggressive investors should consider it. But it could also have the biggest upside potential if its technology takes hold.
Different ways to play the nuclear renaissance
If you are a conservative dividend investor, high-yield Brookfield Renewable is probably your best option, noting it operates a diversified clean energy business and sports a lofty 4.8% yield. Contract power company Constellation Energy is more growth-oriented, but still has a sizable existing business to support its nuclear ambitions. Some investors may prefer Cameco, which sells a commodity product likely to be in high demand. The most aggressive investors should consider NuScale Power, which has yet to sell its first SMR. But when it does ink its first deal, the stock could quickly see strong investor interest.
Should you buy stock in NuScale Power right now?
Before you buy stock in NuScale Power, consider this:
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Reuben Gregg Brewer has positions in Brookfield Renewable Partners. The Motley Fool has positions in and recommends Cameco, Constellation Energy, Meta Platforms, and Walmart. The Motley Fool recommends Brookfield Renewable, Brookfield Renewable Partners, and NuScale Power. 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.

Nuclear Energy Is Winning Repeated Government Backing and Investors Should Take Notice

NRG Energy, Inc. NRG, through systematic capital allocation, utilizes its cash to grow and create shareholder value through reinvestment, debt repayment, acquisitions, dividends and share buybacks. The company is making strategic capital investments across its business segments, generating attractive returns and enhancing shareholder value.
In 2026, NRG Energy plans to return $1.4 billion to shareholders through $1 billion of share repurchases and nearly $407 million in dividends. Rising electricity demand from AI data centers, manufacturing and electrification is strengthening NRG Energy’s long-term growth prospects. Growing investments in AI infrastructure are driving demand for reliable power, creating additional opportunities for the company’s generation business.
The company plans to invest approximately $310 million in growth initiatives during 2026. NRG is advancing 1.5 gigawatts of Texas Energy Fund projects, integrating the LS Power acquisition, expanding opportunities in data centers and providing flexible demand solutions. These investments are expected to drive long-term earnings growth while supporting disciplined capital allocation.
Capital Allocation Strengthens Shareholder Returns
Capital allocation strengthens shareholder returns by balancing growth investments with disciplined cash deployment. Utilities invest in grid modernization while returning excess cash through dividends and share repurchases. This balanced capital allocation supports earnings growth, boosts per-share value and enhances long-term shareholder returns.
Vistra VST returned about $600 million through dividends and share repurchases by May 1, 2026. It has repurchased $6.3 billion of shares since 2021, reducing share count by 30%, with $1.5 billion in buyback authorization remaining through 2027.
Constellation Energy CEG repurchased 1.2 million shares for approximately $335 million in the first quarter of 2026 stock pullback, demonstrating confidence in its long-term value and
commitment to enhancing shareholder returns.
The Zacks Rundown on NRG
NRG’s Earnings Estimates
The Zacks Consensus Estimate for 2026 and 2027 earnings per share indicates a year-over-year increase of 10.16% and 26.55%, respectively.
Image Source: Zacks Investment Research
NRG’s Returns on Equity (ROE)
NRG Energy's trailing-12-month ROE is 70.67%, ahead of the industry average of 11.21%.
Image Source: Zacks Investment Research
NRG’s Stock Price Performance
In the past month, NRG Energy’s shares have risen 0.2% compared with the industry’s 1% growth.
Image Source: Zacks Investment Research
NRG’s Zacks Rank
NRG currently has a Zacks Rank #4 (Sell). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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Can NRG's Capital Allocation Strategy Drive Shareholder Returns?

Key Points
With nuclear energy in high demand, Constellation Energy will benefit as the largest supplier.
Enterprise Product Partners offers investors a high yield and potential growth.
NextEra Energy operates as both a regulated utility and a fast-growing renewables business.
What a year it's been for energy stocks. Geopolitical whiplash and surging electricity demand from AI data centers are combining to put energy companies in the spotlight. Investors have a lot to choose from today. Here are my highest-conviction picks for the second half of 2026.
Constellation Energy shines
Nuclear, in particular, is having a significant moment in the U.S. and beyond. Constellation Energy (NASDAQ: CEG) owns the largest fleet of nuclear power plants in the country. Nuclear energy's ability to meet growing power needs is currently unmatched. Hyperscalers building data centers are looking to Constellation to meet the moment. Agreements with companies such as Microsoft and Walmart are bringing in new revenue for CEG.
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Surprisingly, Constellation Energy stock has not had a great year so far. Down more than 25% in 2026, the shares have been weighed down by a combination of factors, including the Calpine acquisition, institutional sell-offs, and backlash and moratoriums against data centers. The selling of Constellation shares is largely due to the company's more than 500% rise over the past five years.
Usually, the narrative around utilities centers more on income than growth, but that's not the case with Constellation. The company pays a modest dividend, but the surge in energy demand is likely to drive substantial growth in the coming years. The company anticipates earnings-per-share growth of 20% through 2029. Constellation offers investors a less speculative entry point into AI's insatiable energy demand.
Lastly, the company has authorized a $5 billion share buyback program and anticipates free cash flow exceeding $8 billion through 2027. This, combined with new long-term power purchase agreements, is setting Constellation Energy up to dominate for the foreseeable future.
Enterprise Product Partners pays
For investors interested in a boring but consistent business, Enterprise Product Partners (NYSE: EPD) fits the bill. EPDis one of the largest midstream operators in the country and operates on a fee-based model for moving, storing, and processing natural gas, NGLs, crude, and petrochemicals. Where it's positioned in the industry largely insulates it from the daily swings in oil and gas prices.
EPD also offers investors a high yield of approximately 5.7%. The stock's current forward P/E ratio is around 14, and its PEG is 1.58, suggesting the stock is fairly or potentially undervalued.
In the first quarter of 2026, the company generated $2.7 billion in earnings before interest, taxes, depreciation, and amortization (EBITDA), a 10% increase from the prior year. According to management, it was "an exceptional quarter," and in the near term, the company expects discretionary free cash flow to be split between share buybacks and debt reduction. The strong balance sheet and reduced capital spending in 2026 should free up more cash for further buybacks and distribution hikes.
EPD is well positioned to capitalize on AI-driven demand for natural gas and LNG exports. So there's both income and growth visibility for the company.
NextEra is winning the next chapter
NextEra Energy (NYSE: NEE) might actually be the best-positioned energy company to capture the AI power needs. NextEra owns Florida Power & Light, a traditional regulated utility company that provides incredibly reliable cash flow. On the other side, NextEra is growing its renewables division with an increasingly robust backlog of data center contracts. The FP&L provides the foundational stability for the renewables arm to grow.
The company's first-quarter earnings per share grew 10% year over year to $1.09. The management team expects at least 8% annual growth in adjusted earnings per share through 2032. NextEra's dividend is modest, yielding about 2.83% at the current price. The stock trades at a slight premium, but the growth outlook shouldn't dissuade long-term investors.
Three standout choices
These three companies all excel in different areas of the energy industry. Whether you're adding companies for growth or income, these businesses offer distinct paths to returns for shareholders and are my highest-conviction picks in the sector for the second half of 2026.
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 $371,519!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,281,302!*
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Catie Hogan has positions in NextEra Energy. The Motley Fool has positions in and recommends Constellation Energy, Microsoft, NextEra Energy, and Walmart. The Motley Fool recommends Enterprise Products Partners. 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.

My 3 Highest-Conviction Energy Stocks for the Second Half of 2026

Investors in Constellation Energy Corporation CEG need to pay close attention to the stock based on moves in the options market lately. That is because the January 15, 2027 $95.00 Call had some of the highest implied volatility of all equity options today.
What is Implied Volatility?
Implied volatility shows how much movement the market is expecting in the future. Options with high levels of implied volatility suggest that investors in the underlying stocks are expecting a big move in one direction or the other. It could also mean there is an event coming up soon that may cause a big rally or a huge sell off. However, implied volatility is only one piece of the puzzle when putting together an options trading strategy.
What do the Analysts Think?
Clearly, options traders are pricing in a big move for Constellation Energy share, but what is the fundamental picture for the company? Currently, Constellation Energy is a Zacks Rank #3 (Hold) in the Alternative Energy - Other Industry that ranks in the Bottom 38% of our Zacks Industry Rank. Over the last 60 days, no analysts have increased their estimates for the current quarter, while two have revised their estimates downward. The net effect has taken our Zacks Consensus Estimate for the current quarter to move from $2.30 per share to $2.24 per share in the same time period.
Given the way analysts feel about Constellation Energy right now, this huge implied volatility could mean there’s a trade developing. Often times, options traders look for options with high levels of implied volatility to sell premium. This is a strategy many seasoned traders use because it captures decay. At expiration, the hope for these traders is that the underlying stock does not move as much as originally expected.
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Is the Options Market Predicting a Spike in Constellation Energy Stock?

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 $170.0 million dollar outflow -- that's a 0.7% decrease week over week (from 519,798,320 to 516,098,320). Among the largest underlying components of XLU, in trading today Southern Company (Symbol: SO) is up about 0.1%, Constellation Energy Corp (Symbol: CEG) is down about 0.3%, and American Electric Power Co Inc (Symbol: AEP) is higher by about 0.7%. 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 $41.15 per share, with $47.80 as the 52 week high point — that compares with a last trade of $46.05. 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.
Further XLU Research:
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Notable ETF Outflow Detected - XLU, SO, CEG, AEP

Key Points
On top of that, the Trump administration is apparently preparing a new domestic initiative to boost power generation capacity.
As the operator of America's largest nuclear fleet, the company is sure to gain from these top-down efforts.
Constellation Energy (NASDAQ: CEG) stock was true to its name on Wednesday, as investors energetically traded it almost 5% higher. This was part of a broader rally in nuclear stocks, on the back of a splashy deal signed between the U.S. government and a key ally, plus reports of a new top-down initiative to spur power plant build-outs in this country.
The Saudi deal
The Trump administration announced Wednesday that it had signed a long-term deal to help develop nuclear technology with Saudi Arabia. The 30-year pact formalizes nuclear cooperation between the two nations and pushes several U.S. energy companies into leading roles in build-outs in the strategic Middle Eastern country.
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It's important to note that Constellation isn't likely to be one of the main companies involved in the work, as its concentration is on domestic energy generation. Yet as the No. 1 operator of American nuclear plants, it could serve in an advisory or training capacity.
Besides, the government's striking this deal is yet another strong indication of its desire to promote and support the nuclear power industry.
Continued domestic push
Separately, Bloomberg reported that the administration is also planning to launch a new, $200 million program to support the construction of power plants within our borders. A key goal of this initiative, not surprisingly, is to satisfy the considerable power needs of artificial intelligence (AI)-ready data centers.
As nuclear plants produce considerable clean power, they are considered ideal facilities for such a push.
The Bloomberg article, which cited a document its reporters had seen, mentioned small modluar reactor (SMR) specialists Oklo and X-Energy as participants on the energy industry side, and Microsoft and Nvidia as partners from the tech sector.
Constellation was not mentioned in the article, as it operates full-scale nuclear facilities and not SMRs. Even if it doesn't end up playing a role in the program, it's sure to benefit from this latest top-down effort to boost the nation's power-generating capacity.
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 $370,332!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,272,280!*
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*Stock Advisor returns as of July 22, 2026.
Eric Volkman has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Constellation Energy, 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.

Why Constellation Energy Stock Blasted Higher on Wednesday

Key Points
Demand for nuclear energy is increasing due to the massive power needs of AI data centers.
NuScale has a first-mover advantage in the SMR space, but it is years away from commercialization.
Constellation operates the largest nuclear fleet in the U.S. and has secured major deals with hyperscalers.
Nuclear energy demand is on the rise, driven by the massive power needs of artificial intelligence (AI) data centers. Because nuclear power possesses high power density and provides reliable, 24/7 baseload energy, it is increasingly becoming a top choice among major hyperscalers.
In the nuclear energy industry, innovative companies like NuScale Power (NYSE: SMR) have the potential to reimagine nuclear energy deployment with their small modular reactors. Meanwhile, established utilities such as Constellation Energy (NASDAQ: CEG), with their extensive nuclear fleet, stand ready to meet today's power challenges.
Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue »
If you're looking to diversify your portfolio with nuclear energy stocks, there are a few key things you need to consider when considering an investment between NuScale Power and Constellation Energy right now.
Next-generation data centers need nuclear power
Modern data centers require massive amounts of energy. Training large language models requires running thousands of high-performance graphical processing units (GPUs) for months on end, while AI queries provide steady demand for AI-generated answers. The emergence of autonomous AI agents is another massive driver of non-stop loops that require continuous, reliable operation of AI data centers.
To meet growing AI demand, data center chips are packed into compact clusters that handle parallel computing across billions of variables. Because servers generate significant heat, they also require large liquid-cooling systems that consume substantial energy.
According to Goldman Sachs, U.S. data center power demand could spike to 66 GW and account for up to 8.5% of U.S. peak summer demand by 2027. Bank of America analysts forecast that over the next five years, data centers could add 125 GW of new U.S. electric load, representing a compound annual growth rate of electricity demand of 4.1%.
Hyperscalers like Alphabet, Amazon, Meta Platforms, and Microsoft need reliable energy while also meeting their long-term carbon-reduction goals. These data centers can't afford interruptions, which means intermittent wind and solar power need an extra boost, which is where nuclear energy comes into play.
Over the last couple of years, hyperscalers have invested in small modular reactors (SMRs) and nuclear plant restarts to meet these massive future energy demands.
NuScale's small modular reactors could change how nuclear energy is deployed
NuScale Power is uniquely positioned in the SMR space, as it is the only company with a Standard Design Approval (SDA) from the Nuclear Regulatory Commission for its SMR technology. The company has an SDA for its 50-megawatt (MW) and 77 MW modules, giving it a crucial first-mover advantage in the advanced nuclear reactor space, where NRC approval can be a long and drawn-out process.
The company has one approved project in Romania, where it will look to install 462 MWe using six modules at a former coal plant site. The company received a Final Investment Decision from shareholders and the Romanian government. As part of the deal, NuScale will install one 77 MW module to ensure it is functional, with the remaining five modules contingent on the module proving operational. Operations for this power plant are planned to start in 2033.
Beyond this, NuScale hopes to deploy a massive 6 GW of its power modules with the Tennessee Valley Authority (TVA). The company is working closely with ENTRA1 to secure a firm power purchase agreement and hopes to finalize a deal by the end of the year.
Constellation Energy operates the biggest nuclear energy fleet in the U.S.
While NuScale is an up-and-coming nuclear energy company with a long timeline until its plants begin operations, Constellation Energy is an established utility company with a massive nuclear energy fleet. Constellation controls 22 GW of U.S. nuclear generation capacity and operates 21 commercial reactors at 12 locations.
Constellation has secured major deals over the past few years. In 2024, the company announced a 20-year power purchase agreement (PPA) with Microsoft, which involves the launch of the Crane Clean Energy Center and the restart of Three Mile Island Unit 1. The Crane Clean Energy Center will come online in 2028.
In June of last year, Constellation signed a 20-year power purchase agreement with Meta Platforms to provide 1,121 MW of nuclear energy, beginning in June 2027. As part of this agreement, Constellation will relicense and expand its Clinton nuclear facility located in Illinois.
The company also continues to build on its massive energy platform. On July 16, Constellation's venture capital arm, Constellation Technology Ventures, invested in Blue Energy, which builds prefabricated modular nuclear power plant structures off-site and ships them to their final location. The company uses phased delivery, meaning it deploys gas turbines first, which will eventually transition to nuclear plants when reactor installations are completed.
Which stock is a better buy today?
NuScale Power has a first-mover advantage with its NRC-approved SMRs. However, the company faces risks from the Department of Energy's Reactor Pilot Program, in which the DOE is leveraging its authority to reduce red tape and fast-track the testing and licensing of new reactor technologies by competitors.
For investors seeking explosive upside potential, NuScale could be an appealing buy, but it also carries massive risk, as it needs to secure additional contracts and prove it can successfully deploy and commercialize its SMR technology over the coming decade.
In contrast, Constellation Energy has an established fleet of nuclear capacity and is well positioned to benefit from booming energy demand in the near term, making it the better stock for investors looking to gain exposure to the growing nuclear energy industry right now.
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Courtney Carlsen has positions in Alphabet, Constellation Energy, Meta Platforms, and Microsoft. The Motley Fool has positions in and recommends Alphabet, Amazon, Constellation Energy, Meta Platforms, and Microsoft. The Motley Fool recommends NuScale Power. 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.

Is NuScale Power a Better Nuclear Energy Stock Than Constellation Energy?

Constellation Energy CEG benefits from its diversified power generation fleets, which enable it to deliver reliable electricity under changing market conditions. Its balanced generation mix supports the clean energy transition and meets rising electricity demand.
Following its acquisition of Calpine, CEG operates a diversified 55-gigawatt (GW) generation fleet spanning nuclear, natural gas, oil, geothermal, hydro, wind and solar, enough to power approximately 27 million homes. It produces nearly 10% of the nation's clean electricity, plans nearly 10 GW of new capacity and will restart the 835-megawatt (MW) Crane plant, supporting Microsoft's AI-driven demand and long-term growth.
The company is also expanding its generation portfolio to capture growing power demand. CEG’s Calpine unit completed a 25-MW expansion at The Geysers geothermal facility, strengthening its clean energy generation portfolio. It completed the 105-MW Pastoria Solar Project and the 460-MW Pin Oak Creek Energy Center, increasing its renewable and natural gas generation capacity. The company has also submitted nearly 5,000 MW of new nuclear uprates, natural gas and battery storage projects into PJM's interconnection queue, positioning it to benefit from increasing data center electricity demand.
The company plans capital expenditures of $5.7 billion in 2026 and $4.7 billion in 2027 to upgrade plants, extend asset life and support long-term earnings growth. Overall, CEG's diversified generation fleet and expansion projects support long-term earnings growth by meeting rising clean electricity demand.
Utilities Benefit From Diverse Power Generation Portfolio
An integrated energy portfolio combining renewable energy, natural gas, nuclear and energy storage helps diversify revenues, improve reliability and reduce fuel-price risks. It also enables companies to meet growing electricity demand and support long-term earnings growth.
NRG Energy NRG operates a diversified 25 GW generation portfolio of natural gas, coal and renewable assets. Its integrated fleet enhances operational flexibility and supports growing electricity demand.
Vistra Corp. VST operates a diversified portfolio of nearly 44 GW of generation assets, including natural gas, coal, nuclear, solar and battery energy storage. Its balanced fleet provides operational flexibility and supports rising electricity demand.
The Zacks Rundown on CEG
CEG’s Earnings Estimates
The Zacks Consensus Estimate for 2026 and 2027 EPS indicates an increase of 25.03% and 16.02%, respectively, year over year.
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CEG’s Returns on Equity (ROE)
Constellation Energy's trailing-12-month ROE is 16.81%, ahead of the industry average of 7.15%.
Image Source: Zacks Investment Research
CEG’s Stock Price Performance
In the past month, the company’s shares have plunged 6% compared with the industry’s 12.1% fall.
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CEG’s Zacks Rank
CEG currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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Periodand min./max. price, $	Price change, %		Volatility, %		Volume, $
Periodand min./max. price, $	CEG	Industry	CEG	Industry	Volume, $
Yesterday 272.7 - 279.6	0.12	2.81	9.10	3.38	475.36M
Week 245.0 - 279.6	11.71	9.46	6.53	3.11	2.91B
Month 228.6 - 279.6	4.18	6.07	9.08	3.81	12.15B
3 Months 228.6 - 328.8	-11.85	0.26	21.10	5.87	44.24B
6 Months 228.6 - 333.8	-3.56	7.30	32.40	7.81	90.76B
Year 228.6 - 412.7	-14.31	11.04	46.83	13.00	164.07B
3 years 94.4 - 412.7	185.86	19.50	91.89	25.90	338.20B
5 years —	—	32.89	109.74	39.20	—
All time 42.2 - 412.7	452.29	58.30	—	—	374.13B

Constellation Energy Corporation

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