5 Best Utility Stocks To Invest In

2. Constellation Energy Corporation (NASDAQ:CEG)

Number of Hedge Fund Holders: 47

Constellation Energy Corporation (NASDAQ:CEG) is an electricity generation company headquartered in Baltimore, Maryland, United States. It generates electricity through a variety of sources such as nuclear, solar, dams, and natural gas – all of which are environmentally friendly which in turn is an important factor for the company.

While cutting Constellation Energy Corporation (NASDAQ:CEG)’s share price target to $75 from $70 in May 2022, Wells Fargo advised investors to take benefit from recent share price weakness since it believes that the company will continue to grow. As the first quarter of this year came to an end, 47 of the 912 hedge funds profiled by Insider Monkey had invested in the company.

Constellation Energy Corporation (NASDAQ:CEG) is one of the more friendly ESG power generation companies out there, which suits well for future capital generation. It has a large portfolio of nuclear reactors which enabled it to generate close to 21,000 megawatts of electricity last year.