5 High-Growth Utility Stocks to Buy According to Analysts

4. Constellation Energy Corporation (NASDAQ:CEG)

Stock Upside Potential: 17.08%

Number of Hedge Fund Holders: 76

Constellation Energy Corporation (NASDAQ:CEG) is one of the high-growth utility stocks to buy according to analysts. On April 24, Evercore ISI resumed coverage of Constellation Energy (NASDAQ:CEG) following the completion of a $26.6 billion acquisition of Calpine Corporation early in the year.

The research firm maintains an Outperform rating and has set a $380 price target. The positive stance underscores confidence in the company’s long-term prospects, as the acquisition is poised to enhance energy capacity across nuclear, natural gas, geothermal, hydro, wind, solar, and battery storage to about 55 gigawatts.

In addition, the Calpine acquisition enhances Constellation Energy’s ability to serve over 2.5 million retail accounts, including Fortune 100 entities. Evercore ISI also expects the company to be well-positioned to produce 10% of US clean energy amid strong demand during the artificial intelligence revolution.

Consequently, the research firm views the company as well-positioned among large-cap independent power producers to address the massive load growth tied to AI and data center build-out.

Constellation Energy Corporation (NASDAQ:CEG) is the largest producer of carbon-free energy in the United States, specializing in generating and supplying electricity from nuclear, hydro, wind, and solar assets. As a major clean energy provider, it powers homes, businesses, and government entities, holding a dominant position in supplying power to Fortune 100 companies.