Capital Research & Management Co has recently announced that it has increased stake in Constellation Energy Corporation (NASDAQ:CEG) by 3.74%. After grabbing 29.43 million shares, the institutional investor is now in possession of 1.06 million shares of the Utilities Company. The new investment brought the stake of investor firm to 9.15% having worth around $3.32 billion. Moreover, T. Rowe Price Associates, Inc. increased its share by 4.37 million to have a control over 17.08 million shares. And BlackRock Fund Advisors raised its holdings to 0.41 million shares by acquiring 16.01 million shares or 4.98% of the stake.
Constellation Energy Corporation (CEG) concluded trading on 12/07/23 at a closing price of $110.53, with 3.49 million shares of worth about $386.3 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 19.75% during that period and on Thursday the price saw a loss of about -1.86%. Currently the company’s common shares owned by public are about 327.13M shares, out of which, 318.67M shares are available for trading.
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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 13 analysts are covering the CEG stock and their offered price forecasts bring an average price target of $129.60. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $151.00 and could fall to a lowest price of $116.00. The stock’s current price level is 14.71% above of average price target set by the analysts, while a rise to estimated low would result in gain of 4.72% for the stock. However, touching the estimated high of $151.00 would mean a gain of 26.8% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 62 times over the past 12 months. They bought 211,166 shares in 46 of the transactions. In 16 selling transactions, insiders dumped 114,088 shares.
Washington Mutual Investors Fund, Vanguard Total Stock Market ETF, and Vanguard 500 Index Fund are the top 3 mutual funds which are holding stakes in Constellation Energy Corporation Washington Mutual Investors Fund is currently holding 16.08 million shares of worth totaling $1.82 billion. The company recently came selling -0.84 million shares which brought its stake up to 5.00% of the company’s outstanding shares. Vanguard Total Stock Market ETF bought 56679.0 shares, after which its hold over company’s outstanding shares expand to 3.13%, leaving 10.07 million shares with the mutual fund that have a worth of about $1.14 billion. Vanguard 500 Index Fund, after buying 7.77 million shares, have now control over 2.42% of the stake in the company. It holds 38762.0 shares of worth $877.1 million.
Constellation Energy Corporation (NASDAQ: CEG) started trading at $113.26, above $0.63 from concluding price of the previous day. Stock saw a price change of -8.68% in past 5 days and over the past one month there was a price change of -7.79%. Year-to-date (YTD), CEG shares are showing a performance of 28.21% which increased to 21.76% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $71.16 but also hit the highest price of $127.24 during that period. The average intraday trading volume for Constellation Energy Corporation shares is 1.75 million. The stock is currently trading -9.03% below its 20-day simple moving average (SMA20), while that difference is down -5.04% for SMA50 and it goes to 14.67% higher than SMA200.
Capital Research & Management Co acquired 29.43 million shares of Constellation Energy Corporation having value of about $3.32 billion. Data submitted at the U.S SEC by Capital Research & Management Co revealed that the firm now holds 1.06 million shares in the company valued at close to $117177384.73, or have control over 3.74% stake in the company. Constellation Energy Corporation (NASDAQ: CEG) currently have 327.13M outstanding shares and institutions hold larger chunk of about 84.18% of that. Holding of mutual funds in the company is about 25.56% while other institutional holders and individual stake holders have control over 58.54% and 0.10% of the stake respectively.
The stock has a current market capitalization of $35.26B and its 3Y-monthly beta is at 0.62. PE ratio of stock for trailing 12 months is 21.17, while it has posted earnings per share of $5.22 in the same period. Its PEG reads 0.80 and has Quick Ratio of 1.61 while making debt-to-equity ratio of 0.70. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for CEG, volatility over the week remained 3.05% while standing at 2.23% over the month.
Analysts are in expectations that Constellation Energy Corporation (CEG) stock would likely to be making an EPS of $1.89 in the current quarter, while forecast for next quarter EPS is $1.14 and it is $6.67 for next year. For the current quarter EPS, analysts have given the company a lowest target $1.48 which is $2.58 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.1 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 1352.90% while it is estimated to increase by 7.47% in next year.
Analysts at 13 brokerage firms have issued recommendations for the Constellation Energy Corporation (CEG)’s stock and average of those rates the stock at a “Strong Buy” and assign it a score of 1.92. Out of those 13 Wall Street analysts, 7 recommended a “Buy” rating, while 6 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
