Fintel reports that on April 20, 2023, Morgan Stanley maintained coverage of Constellation Energy (NASDAQ:CEG) with a Overweight recommendation.
Analyst Price Forecast Suggests 30.62% Upside
As of April 7, 2023, the average one-year price target for Constellation Energy is $99.88. The forecasts range from a low of $83.83 to a high of $120.75. The average price target represents an increase of 30.62% from its latest reported closing price of $76.47.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Constellation Energy is $18,210MM, a decrease of 25.49%. The projected annual non-GAAP EPS is $4.66.
Constellation Energy Declares $0.28 Dividend
On February 16, 2023 the company declared a regular quarterly dividend of $0.28 per share ($1.13 annualized). Shareholders of record as of February 27, 2023 received the payment on March 10, 2023. Previously, the company paid $0.14 per share.
At the current share price of $76.47 / share, the stock’s dividend yield is 1.48%. Looking back five years and taking a sample every week, the average dividend yield has been 0.94%, the lowest has been 0.59%, and the highest has been 2.45%. The standard deviation of yields is 0.37 (n=51).
The current dividend yield is 1.45 standard deviations above the historical average.
Additionally, the company’s dividend payout ratio is -2.31. The payout ratio tells us how much of a company’s income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company’s income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend – not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company has not increased its dividend in the last three years.
What are Other Shareholders Doing?
Stonebridge Capital Advisors holds 2K shares representing 0.00% ownership of the company. In it’s prior filing, the firm reported owning 2K shares, representing an increase of 6.55%. The firm increased its portfolio allocation in CEG by 2.01% over the last quarter.
Metropolitan Life Insurance holds 19K shares representing 0.01% ownership of the company. In it’s prior filing, the firm reported owning 19K shares, representing a decrease of 2.88%. The firm decreased its portfolio allocation in CEG by 3.73% over the last quarter.
First Hawaiian Bank holds 6K shares representing 0.00% ownership of the company. In it’s prior filing, the firm reported owning 6K shares, representing an increase of 0.02%. The firm increased its portfolio allocation in CEG by 54,392.50% over the last quarter.
Morgan Stanley holds 5,157K shares representing 1.57% ownership of the company. In it’s prior filing, the firm reported owning 4,233K shares, representing an increase of 17.92%. The firm increased its portfolio allocation in CEG by 5.21% over the last quarter.
Stifel Financial holds 122K shares representing 0.04% ownership of the company. In it’s prior filing, the firm reported owning 111K shares, representing an increase of 9.37%. The firm increased its portfolio allocation in CEG by 4.82% over the last quarter.
What is the Fund Sentiment?
There are 1609 funds or institutions reporting positions in Constellation Energy. This is a decrease of 4 owner(s) or 0.25% in the last quarter. Average portfolio weight of all funds dedicated to CEG is 0.50%, an increase of 18.33%. Total shares owned by institutions increased in the last three months by 0.78% to 322,563K shares. The put/call ratio of CEG is 1.52, indicating a bearish outlook.
Constellation Energy Background Information
(This description is provided by the company.)
Constellation Energy Corp. engages in the generation, supply, and marketing of clean energy electricity, and renewable energy products and solutions.
See all Constellation Energy regulatory filings.
This story originally appeared on Fintel.
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