Chart of the Day: Constellation Energy - Renewable Energy
The Chart of the Day belongs to the renewable energy company Constellation Energy (CEG) . I found the stock by using Barchart's powerful screening functions to find stocks with the highest technical buy signals, highest Weighted Alpha, superior current momentum and having a Trend Seeker buy signal then used the Flipchart feature to review the charts for consistent price appreciation.
Constellation Energy Corporation generates and sells electricity in the United States. The company operates through five segments: Mid-Atlantic, Midwest, New York, ERCOT, and Other Power Regions. It sells natural gas, and other energy-related products and services. The company has approximately 32,355 megawatts of generating capacity consisting of nuclear, wind, solar, natural gas, and hydroelectric assets. It serves distribution utilities; municipalities; cooperatives; and commercial, industrial, governmental, and residential customers. The company was incorporated in 2021 and is headquartered in Baltimore, Maryland.
Barchart's Opinion Trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 20 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com website when you read this report.
Barchart Technical Indicators:
- 100% technical buy signals
- 30.87+ Weighted Alpha
- 26.97% gain in the last year
- Trend Seeker buy signal
- Above its 20, 50 and 100 day moving averages
- 8 new highs and up 3.90% in the last month
- Relative Strength Index 52.52%
- Technical support level at $111.56
- Recently traded at $112.72 with 50 day moving average of $109.66
Fundamental Factors:
- Market Cap $36.03 billion
- P/E 48.03
- Dividend yield .88%
- Revenue expected to grow another 2.10% next year
- Earning estimated to increase 1,187.80% this year, an additional 16.50% next year and continue to compound at an annual rate of 23.30% for the next 5 years
Analysts and Investor Sentiment -- I don't buy stocks because everyone else is buying but I do realize that if major firms and investors are dumping a stock it's hard to make money swimming against the tide:
- Wall Street analyst gave 6 strong buy, 2 buy, and 4 hold opinions on the stock
- Analysts' price targets are between $51 and $125
- The individual investors following the stock on Motley Fool voted 7 to 0 for the stock to beat the market with the more experienced investors voting 1 to 0 for the same result
- Value Line has a price targets from $78 to $185 with a consensus pf $132
- CFRAs MarketScope rates it hold
- 5,550 investors monitor the stock on Seeking Alpha and the analysts they follow have a consensus price target pf $116
Additional disclosure: The Barchart Chart of the Day highlights stocks that are experiencing exceptional current price appreciation. They are not intended to be buy recommendations as these stocks are extremely volatile and speculative. Should you decide to add one of these stocks to your investment portfolio it is highly suggested you follow a predetermined diversification and moving stop loss discipline that is consistent with your personal investment risk tolerance and reevaluate your stop losses at least on a weekly basis.
On the date of publication, Jim Van Meerten did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
Provided Content: Content provided by Barchart. The Globe and Mail was not involved, and material was not reviewed prior to publication.