Let’s dive into that news below with all the details potential CEG stock investors need to know!
- Constellation Energy’s spinoff has it standing as the largest carbon-free energy producer in the U.S.
- It also has it serving millions of homes and businesses with its clean energy solutions.
- The company’s goal is to reach 95% carbon-free electricity by 2030.
- It then seeks to obtain 100% carbon-free electricity by 2040.
- The company also seeks a 100% reduction of operations-driven emissions by 2040.
- The spinoff has it becoming a Fortune 200 company.
- It currently operates in 48 states, Canada, and the U.K.
- Also worth noting is the fact that the clean energy company employs 13,000 people.
- Constellation Energy wants to meet its clean energy goals with the use of nuclear power.
- It claims that second license contracts could allow it to extend the life of its nuclear stations to 80 years.
- The company also mentions that it currently serves 2 million residential, public sector, and business customers.
- As far as financials go, Constellation Energy has an EBITDA guidance of $2.35 billion to $2.75 billion for 2022.
- The company also expects its $180 million to increase 10% annually.
- It also mentions $1.1 billion in cost reductions since 2015.
- The spinoff resulted in Exelon investors receiving one share of CEG stock for every three shares of EXC stock that they own.
CEG stock is up 7.9% as of Wednesday afternoon.
There’s more stock market news for investors to dive into below!
InvestorPlace has all the latest stock stories traders need to know about for Wednesday. Among that is Helbiz (NASDAQ:HLBZ) jumping on inside buying, Advanced Micro Devices (NASDAQ:AMD) price predictions, as well as Clover Health Investments (NASDAQ:CLOV) price predictions. You can read all of this coverage at the following links!
More Wednesday Stock Market News
- HLBZ Stock Pops on Insider Buying News. Who Is Betting on Helbiz?
- AMD Stock Price Predictions: Why Analysts See A Bright Future for Advanced Micro Devices
- CLOV Stock Price Predictions: Why One Analyst See Clover Health Shares Hitting $7
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.