Billionaire Ray Dalio’s Bridgewater Is Crazy About These 15 Stocks

12. Constellation Energy Corporation (NASDAQ:CEG)

Bridgewater Associates’ Stake Value as of Q3: $199.65 million

Number of Hedge Fund Holders: 78

Constellation Energy Corporation (NASDAQ:CEG) is a leading energy provider with a robust clean energy portfolio of over 23,000 megawatts, including nuclear, solar, wind, and hydroelectric power plants. Impressively, nearly 90% of its annual energy output is derived from carbon-free sources.

In its latest financial results, the company delivered strong performance, reporting earnings of $2.74 per share, surpassing analyst estimates for the third time in four quarters. Quarterly revenue reached $6.55 billion, up from $6.11 billion in the prior year, underscoring Constellation Energy’s consistent growth and financial stability.

In September, both Wells Fargo and Morgan Stanley raised their price targets for Constellation Energy Corporation (NASDAQ:CEG) following the restart of the Crane Clean Energy Center, formerly Three Mile Island Unit 1. The restart coincided with a 20-year power purchase agreement (PPA) with Microsoft, highlighting growing demand for clean energy from major tech firms. Wells Fargo increased its target from $250 to $300, citing Microsoft’s commitment to decarbonization and preference for reliable nuclear energy. Morgan Stanley raised its target from $233 to $313, emphasizing the PPA’s significance, which secures pricing at approximately $100/MWh.