12 Best Nuclear Power Stocks to Buy Now

3. Constellation Energy Corporation (NASDAQ:CEG)

Number of Hedge Fund Holders: 85

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) had a strong Q4 2024 as it posted an adjusted EPS of $2.44, topping estimates by $0.3. The company’s revenue of $5.38 billion was down by over 7% YoY but still above market expectations by $633.73 million. Constellation also remains committed to its shareholders and bought back $1 billion of its common stock in 2024. Moreover, the company increased its annual dividend by 25% last year and expects to grow it by another 10% in 2025.

Constellation Energy Corporation (NASDAQ:CEG) made headlines in Q4 2024 when it signed its largest-ever power purchase agreement with Microsoft to help resurrect a unit of the Three Mile Island nuclear plant and power its AI data center. It is estimated that Microsoft might pay the power company about $110-$115 per megawatt-hour (MWh) as part of the 20-year-long fixed price PPA. Moreover, Constellation Energy announced plans earlier this year to acquire Calpine, a privately held company that is the leading generator of electricity from natural gas and geothermal resources in the country, for a net purchase price of $26.6 billion. The blockbuster deal will turn Constellation into the largest independent power provider in the US, sharply growing its mix of natural gas-fired electricity generation.