Constellation Energy (CEG) Eyes to Boost RNG Production with Pine Creek RNG

Constellation Energy Corporation (NASDAQ:CEG) is one of the 8 Best Climate Change Stocks to Buy According to Analysts. Based on 22 analyst ratings compiled by CNN, 86% rated Constellation Energy Buy, while 9% marked it Hold. As of May 19, the stock has a median price target of $382, a 46.55% increase from the current price of $260.67.

On May 14, Constellation Energy announced that it had entered a long-term agreement for the purchase of a minority equity interest in five operating RNG production facilities of Pine Creek RNG. The said facilities, which are located in the states of Washington, Utah, Iowa, and Illinois, currently produce approximately 1.5 million MMBtus of RNG per year. Under the agreement’s framework, the two companies are seeking to develop approximately 3.0 million MMBtus annually of additional RNG production.

On May 12, Mizuho increased its price target on Constellation Energy to $310 from $300 and maintained a Neutral rating on the stock following the release of the company’s first-quarter earnings report. Constellation earlier reported a higher GAAP net income of $4.49 per share for the first quarter of the year, up from $0.38 per share in the same quarter last year.

Constellation Energy Corporation (NASDAQ:CEG) is the largest private-sector power producer in the world and the nation’s largest producer of clean and reliable energy. With 55 gigawatts of capacity from nuclear, natural gas, oil, geothermal, hydro, wind, and solar facilities, its fleet has the generating capacity to power the equivalent of 27 million homes, providing about 10% of the nation’s clean energy and delivering the around-the-clock reliability needed to power America’s growing economy.

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