Melius Research Initiates Coverage on Constellation Energy (CEG) Highlighting Carbon-Free Power Dominance

Constellation Energy Corporation (NASDAQ:CEG) ranks among the best performing utilities stocks to buy now. On August 20, Melius Research began coverage of Constellation Energy Corporation (NASDAQ:CEG), assigning it a Buy rating and a $462 price target. The firm emphasized Constellation’s leading position in carbon-free power generation, namely its dominance in nuclear power production.

According to Melius, Constellation Energy Corporation (NASDAQ:CEG) generates around 10% of the electrical power in the US and serves three-quarters of Fortune 500 corporations, in addition to over 2 million residential users.

The firm also stated that Constellation Energy’s already substantial market presence will be further enhanced by its impending acquisition of Calpine.

Constellation Energy Corporation (NASDAQ:CEG) is a prominent energy company with a strong clean energy portfolio of over 33,000 megawatts, which includes nuclear, solar, wind, and hydroelectric power facilities. It works across five regions: the Mid-Atlantic, the Midwest, New York, ERCOT, and Other Power Regions.

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Disclosure: None. This article is originally published at Insider Monkey.