Blackrock’s 30 Most Important AI Stocks

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14. Constellation Energy Corporation (NASDAQ:CEG)

Number of Hedge Fund Holders: 78 

Constellation Energy Corporation (NASDAQ:CEG) generates and sells electricity in the United States. There are several key aspects that contribute to the appeal of this company as a valuable investment opportunity. Firstly, as per the report of the third quarter of 2024, GAAP Net Income was $3.82 per share, and Adjusted (non-GAAP) Operating Earnings were $2.74 per share. These figures demonstrate the company’s potential to drive positive financial growth. Secondly, the company is executing a 20-year Power Purchase Agreement (PPA) with Microsoft, supporting the restart of Three Mile Island Unit 1, renamed the Crane Clean Energy Center. Under the agreement, Microsoft will purchase the output generated from the renewed plant as part of its goal to help power its data centers in PJM with clean energy. Moreover, the company is planning to acquire Calpine, the largest natural gas-fired power fleet operator in the US, for $29.1 billion.

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