Fintel reports that on July 21, 2023, Morgan Stanley maintained coverage of Constellation Energy (NASDAQ:CEG) with a Overweight recommendation.
Analyst Price Forecast Suggests 5.24% Upside
As of July 6, 2023, the average one-year price target for Constellation Energy is 101.66. The forecasts range from a low of 83.83 to a high of $126.00. The average price target represents an increase of 5.24% from its latest reported closing price of 96.60.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Constellation Energy is 18,210MM, a decrease of 31.06%. The projected annual non-GAAP EPS is 4.66.
Constellation Energy Declares $0.28 Dividend
On April 26, 2023 the company declared a regular quarterly dividend of $0.28 per share ($1.13 annualized). Shareholders of record as of May 12, 2023 received the payment on June 9, 2023. Previously, the company paid $0.28 per share.
At the current share price of $96.60 / share, the stock's dividend yield is 1.17%.
Looking back five years and taking a sample every week, the average dividend yield has been 1.00%, the lowest has been 0.59%, and the highest has been 2.45%. The standard deviation of yields is 0.36 (n=62).
The current dividend yield is 0.47 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is -1.88. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.14%, demonstrating that it has increased its dividend over time.
What is the Fund Sentiment?
There are 1610 funds or institutions reporting positions in Constellation Energy. This is unchanged over the last quarter. Average portfolio weight of all funds dedicated to CEG is 0.39%, a decrease of 22.13%. Total shares owned by institutions increased in the last three months by 0.88% to 325,366K shares. 
The put/call ratio of CEG is 0.86, indicating a bullish outlook.
What are Other Shareholders Doing?
Capital International Investors holds 28,101K shares representing 8.66% ownership of the company. In it's prior filing, the firm reported owning 24,120K shares, representing an increase of 14.17%. The firm increased its portfolio allocation in CEG by 1.65% over the last quarter.
AWSHX - WASHINGTON MUTUAL INVESTORS FUND holds 14,829K shares representing 4.57% ownership of the company. In it's prior filing, the firm reported owning 12,915K shares, representing an increase of 12.91%. The firm increased its portfolio allocation in CEG by 4.53% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 10,105K shares representing 3.12% ownership of the company. In it's prior filing, the firm reported owning 9,924K shares, representing an increase of 1.80%. The firm decreased its portfolio allocation in CEG by 14.38% over the last quarter.
Wellington Management Group Llp holds 9,030K shares representing 2.78% ownership of the company. In it's prior filing, the firm reported owning 11,586K shares, representing a decrease of 28.32%. The firm decreased its portfolio allocation in CEG by 90.10% over the last quarter.
VFINX - Vanguard 500 Index Fund Investor Shares holds 7,631K shares representing 2.35% ownership of the company. In it's prior filing, the firm reported owning 7,560K shares, representing an increase of 0.93%. The firm decreased its portfolio allocation in CEG by 14.76% over the last quarter.
Constellation Energy Background Information
(This description is provided by the company.)
Constellation Energy Corp. engages in the generation, supply, and marketing of clean energy electricity, and renewable energy products and solutions.
Additional reading:
- 1 Contact: Paul Adams Constellation Communications 410-470-9700 paul.adams@constellation.com FOR IMMEDIATE RELEASE CONSTELLATION TO ACQUIRE OWNERSHIP STAKE IN TEXAS NUCLEAR PLANT FROM NRG ENERGY Company will purchase 44% share of South Texas Project
- Constellation Business Update June 1, 2023 This presentation contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are subject to risks and uncertainties. Words such as “could,” “m
- 1 Contact: Paul Adams Constellation Communications 410-470-9700 Paul.Adams@constellation.com FOR IMMEDIATE RELEASE CONSTELLATION APPOINTS DHIAA M. JAMIL TO ITS BOARD OF DIRECTORS Longtime Duke Energy executive brings nuclear energy, operations expert
- CONSTELLATION EXPECTS TO END YEAR COMFORTABLY IN THE UPPER END OF GUIDANCE AND SEES MATERIAL IMPROVEMENTS IN 2024
- Earnings Conference Call First Quarter 2023 May 4, 2023 This presentation contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are subject to risks and uncertainties. Words such a
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
