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Third Point, led by Dan Loeb, purchased 475,000 shares of Constellation Energy (CEG) for $167.8 million. Constellation, based in Baltimore, is a significant electricity producer, claiming to operate more nuclear power plants than any other U.S. company.

Following its acquisition of Calpine, it holds the largest share of natural gas and geothermal plants in the U.S., generating 55 gigawatts of power. In Q3, CEG's sales grew 7.7% to $6.57 billion, with net income rising 10.85% to $930 million. Analysts expect EPS to increase by 7.7% in 2025 and 21.5% in 2026, with a forward P/E of 26.7, appealing to conservative investors.