Constellation Energy (CEG) Following The Microsoft Deal Still Looks Undervalued

Constellation Energy (CEG) Following The Microsoft Deal Still Looks Undervalued

By Simply Wall St
Publication Date: 2026-09-27 02:21:00

Constellation Energy (CEG) moved back into the spotlight after signing a long term power contract with Microsoft, a deal connected to the relaunch of the Three Mile Island nuclear facility in Pennsylvania.

Recent trading tells a mixed story. Constellation Energy’s share price return is up 3.36% over the past week and 1.52% over 90 days, while the 30 day move is down 4.87% and the year to date share price return has fallen 28.12%, alongside a very large 3 year total shareholder return of 146.04%. This combination suggests long term momentum but a cooler phase in 2026 as investors reassess growth potential and risks around major nuclear and data center power agreements.

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Constellation Energy now trades well below both analyst targets and some intrinsic value estimates. After this pullback, does the current price still…