Retirement Stock Portfolio: 12 Energy Stocks To Consider

6. Constellation Energy Corporation (NASDAQ:CEG)

Constellation Energy Corporation (NASDAQ:CEG) is an American energy company providing electric power, natural gas, and energy management services. It generates and sells electricity in the United States, as well as sells natural gas, energy-related products, and sustainable solutions.

The company is dedicated to providing clean and affordable energy and is responsible for generating 10% of carbon-free clean energy consumed in the United States. This factor has had major tech giants looking towards renewables such as CEG to power their AI data center needs. Constellation recently made it to our list of 20 Under the Radar AI stocks. Morgan Stanley has projected that increasing electricity prices would favor companies like Constellation Energy Corporation (NASDAQ:CEG) in the coming months. Currently, it has an annual dividend of $1.41 per share and a dividend yield of 0.81%. CEG has been consistently increasing its dividends for the past two years.

Overall, it has reported impressive earnings for the second quarter. Second-quarter GAAP earnings were $2.58 per share and adjusted operating earnings were $1.68 per share. It is also raising its adjusted operating earnings guidance range, indicating a positive outlook on future performance. The company’s decision to revise guidance in Q2 instead of waiting for Q3 underscores its strong belief in its current performance and future potential. Constellation Energy Corporation (NASDAQ:CEG) repurchased $500 million worth of shares during the quarter, bringing the total buybacks for the year to $1 billion. There is also a strong potential for additional growth for the company stemming from expanding clean, reliable energy sources and selling to data center customers.

As of the second quarter, Constellation Energy Corporation (NASDAQ:CEG) was held by 71 hedge funds in Insider Monkey’s database, with stakes worth $37.82 billion in total. The largest shareholder in the company is Coatue Management, with shares worth $982 million.