CONSTELLATION ENERGY CORP Stock Price, News & Analysis

Constellation (CEG) and Meta have signed a landmark 20-year power purchase agreement for 1,121 megawatts of nuclear energy from the Clinton Clean Energy Center, starting June 2027. The deal ensures the plant's continued operation after Illinois' ZEC program expires, while expanding clean energy output by 30 megawatts through uprates. The agreement preserves 1,100 jobs, secures $13.5 million in annual tax revenue, and includes $1 million in charitable giving over five years. The Clinton facility, which powers 800,000 homes, was previously at risk of closure in 2017 due to financial losses. Meta's partnership provides a market-based solution replacing the state's ratepayer support, while supporting their AI operations and 100% clean energy commitment. Constellation is also exploring advanced nuclear reactor development at the site. The Brattle Group analysis showed that closing Clinton would have increased emissions by 34 million metric tons over 20 years and reduced Illinois' GDP by $765 million annually.

Constellation Energy (CEG) reported strong Q1 2025 results with Adjusted Operating Earnings of $2.14 per share, up from $1.82 in Q1 2024, while GAAP Net Income decreased to $0.38 per share from $2.78. The company reaffirmed its full-year 2025 guidance of $8.90-$9.60 per share.

Operational highlights include a 94.1% nuclear capacity factor and 99.2% dispatch match rate for natural gas operations. The company's nuclear fleet produced 45,582 GWhs in Q1. Key developments include the ongoing Calpine acquisition, expected to close in Q4 2025, and the selection of Crane Clean Energy Center for fast-track interconnection in PJM, which will add over 1,150 megawatts of clean electricity to the grid.

Constellation Energy Corporation (Nasdaq: CEG) has announced its latest quarterly dividend payment. The company's Board of Directors has declared a dividend of $0.3878 per share on common stock.

Key details of the dividend announcement:

• Payment Date: June 6, 2025
• Record Date: May 16, 2025 (5 p.m. Eastern time)
• Dividend Amount: $0.3878 per share

This dividend announcement demonstrates Constellation Energy's commitment to providing regular returns to its shareholders through quarterly distributions.

Constellation Energy (CEG) reports ahead-of-schedule progress on its Three Mile Island Unit 1 restart project, now named the Crane Clean Energy Center. The project, backed by a power purchase agreement with Microsoft, will restore 835 megawatts of carbon-free energy to Pennsylvania's grid.

Key achievements include: hiring over 200 full-time employees with plans to reach 600+ before restart; completing main office building restoration; advancing equipment inspections of steam generator, turbines, and other critical components; and ordering three new main power transformers with a $35 million investment.

An independent study projects the restart will create 3,400 direct and indirect jobs, contribute $16 billion to state GDP, and generate over $3 billion in state and federal taxes. The company has committed to donating more than $1 million over five years to support local community initiatives.

Constellation Energy (CEG) reported strong financial results for Q4 and full year 2024. The company achieved GAAP Net Income of $2.71 per share and Adjusted Operating Earnings of $2.44 per share for Q4, while full-year figures reached $11.89 and $8.67 per share respectively, exceeding guidance.

Key developments include entering a definitive agreement to acquire Calpine in a cash and stock transaction worth $4.5 billion plus 50 million shares, completing $1 billion in share repurchases, and securing a credit rating upgrade from Moody's to Baa1. The company increased its dividend by 25% and plans another 10% growth in 2025.

Constellation affirmed its 2025 guidance range of $8.90-$9.60 per share and maintained strong operational performance with a 94.6% nuclear operating capacity factor for 2024. The company remains the largest producer of emissions-free energy in the U.S. for the 11th consecutive year.

Constellation (CEG) and the New York State Energy Research and Development Authority (NYSERDA) have partnered on a grant proposal to the U.S. Department of Energy to support obtaining an early site permit for advanced nuclear reactors at the Nine Mile Point Clean Energy Center in Oswego, New York.

The initiative aligns with Governor Hochul's 2025 State of the State address, which calls for a master plan for responsible advanced nuclear development in New York. Currently, nuclear energy produces more than 20% of New York's energy, with Constellation's three upstate facilities generating nearly half of the state's clean electricity.

NYSERDA's cost share funding represents a important step in evaluating the feasibility of new nuclear development in New York. If approved, the DOE funding would support pursuing an early site permit at Nine Mile Point, valid for 10-20 years. The DOE's decision on awardees is expected in early summer. Additionally, New York will lead a multi-state Consortium on Nuclear Energy focused on cost reduction and risk-sharing.

Constellation (CEG) has announced the acquisition of Calpine Corp. in a cash and stock transaction valued at $16.4 billion, consisting of 50 million Constellation shares and $4.5 billion in cash, plus assuming $12.7 billion in Calpine net debt. The net purchase price is $26.6 billion, representing a 7.9x 2026 EV/EBITDA multiple.

The merger creates America's largest clean energy provider, combining Constellation's nuclear fleet with Calpine's natural gas and geothermal operations. The combined entity will have nearly 60 gigawatts of capacity from zero- and low-emission sources, becoming the nation's leading competitive retail electric supplier serving 2.5 million customers.

The transaction is expected to close within 12 months and will be immediately accretive, with over 20% adjusted EPS accretion in 2026 and adding more than $2 billion in annual free cash flow. Calpine's significant shareholders have agreed to an 18-month lock-up period for their Constellation stock ownership.

Constellation (Nasdaq: CEG), America's largest carbon-free energy producer, responded to the U.S. Treasury Department's final decision regarding clean hydrogen production tax credits under Section 45V of the Inflation Reduction Act. The Treasury reversed its previous stance, now allowing existing nuclear plants powering clean hydrogen production to qualify for federal tax credits.

CEO Joe Dominguez welcomed the decision, highlighting its importance for customers transitioning to clean hydrogen and sustainable technologies. He referenced a recent 10-year agreement with the U.S. General Services Administration for clean nuclear power as evidence of increasing demand for nuclear energy solutions.

While viewing the final rule as progress, Constellation noted concerns about incrementality limits. The company is currently evaluating how the final rules and new electric transmission charges might affect its proposed clean hydrogen project at the LaSalle Clean Energy Center and its role in the MachH2 Hub.

Constellation (CEG) has secured contracts worth over $1 billion from the U.S. General Services Administration (GSA). The deal includes a record-breaking 10-year, $840 million contract to supply more than 1 million MWh annually of clean energy to 13+ government agencies starting 2025. Additionally, a $172 million Energy Savings Performance Contract was awarded for implementing energy conservation measures at five GSA facilities in the National Capital Region.

The power supply will partially come from planned nuclear plant uprates. The energy efficiency project includes LED lighting, weatherization, HVAC upgrades, and converting four DC buildings from steam to electric power. The construction will span approximately 42 months, starting this month.

The energy will be supplied to various federal agencies across Illinois, Maryland, New Jersey, Pennsylvania, and Ohio. Combined with the previously announced Crane restart, Constellation plans to add approximately 1,100 MWs of clean energy capacity by 2028.