10 Most Profitable Renewable Energy Stocks Now

2. Constellation Energy Corporation (NASDAQ:CEG)  

Upside Potential: 23.75%  

5-Year Net Income CAGR: 39.01%  

TTM Net Income: $2.39 Billion  

Constellation Energy Corporation (NASDAQ:CEG) is a leading energy company with an impressive clean energy portfolio consisting of over 23,000 megawatts of generating capacity, comprising nuclear, solar, wind, and hydro plants. Notably, nearly 90% of the company’s annual energy output comes from carbon-free sources and the company has set ambitions to produce 95% carbon-free electricity by 2030 and 100% by 2040.

Constellation Energy Corporation’s (NASDAQ:CEG) Antelope Valley Solar Ranch One in Los Angeles is one of the largest solar photovoltaic projects in the United States. The project generates 242 MW of energy, which is enough to power the equivalent of 75,000 average homes.

On November 4, Constellation Energy Corporation (NASDAQ:CEG) reported its financial results for Q3. The company reported a strong performance that exceeded analyst expectations and posted earnings of $2.74 per share. This marks the third time in the last four quarters that Constellation Energy Corporation (NASDAQ:CEG) has surpassed consensus EPS estimates and has consistently delivered strong financial results. The company’s revenue for the quarter was $6.55 billion which represents an increase from the year-ago revenue of $6.11 billion.

In Q3 Constellation Energy Corporation (NASDAQ:CEG) executed a 20-year power purchase agreement (PPA) with Microsoft to support the restart of the Three Mile Island Unit 1, renamed as the Crane Clean Energy Center. The restart of the plant is subject to regulatory approvals, but if successful, it will provide a significant boost to Constellation Energy Corporation’s (NASDAQ:CEG) clean energy portfolio.