12 Best Energy Stocks to Invest In According to Billionaires

4. Constellation Energy Corporation (NASDAQ:CEG)

Number of Billionaire Holders: 17

Constellation Energy Corporation (NASDAQ:CEG) is the largest producer of carbon-free energy in the US, with approximately 34,200 megawatts of generating capacity consisting of nuclear, wind, solar, natural gas, and hydroelectric assets.

Constellation Energy Corporation (NASDAQ:CEG) outperformed estimates in 2024 as its adjusted EPS of $2.44 beat expectations by $0.3. The company’s revenue of $5.38 billion was down by over 7% YoY but still above consensus by $633.73 million. Constellation reaffirmed its 2025 earnings guidance range of $8.90 to $9.60 per share. The company bought back $1 billion of its common stock in 2024 and increased its annual dividend by 25% last year, with expectations to grow it by another 10% in 2025.

Constellation Energy Corporation (NASDAQ:CEG) continues to expand in response to the growing power demand in the US. The company made headlines earlier this year when it agreed to acquire the privately held natural gas and geothermal company Calpine Corp for a net purchase price of $26.6 billion, one of the biggest blockbuster deals in American power industry history. The deal is expected to close by the end of the year and is expected to add $2 billion to CEG’s free cash flow annually. Together, the companies would have nearly 60 gigawatts of capacity from zero- and low-emission sources, including nuclear, natural gas, and geothermal.