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Constellation Energy (NASDAQ: CEG) has seen its stock price surge over 40% in the past year, outperforming the S&P 500, which returned nearly 13%. This makes Constellation the largest low-carbon energy producer in the U.S., with about 90% of its electricity generated from carbon-free sources.
The company is in the process of acquiring Calpine in a $26.6 billion deal expected to close in early 2026. This acquisition will significantly expand Constellation’s portfolio, enabling it to enhance its presence in key markets such as Texas, Virginia, and California, while bolstering its earnings.
Constellation holds a 21% market share in selling power to commercial and industrial customers and is positioned for continued growth, with earnings projected to grow at a rate of more than 10% annually through 2028.
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