$32.22
-0.55 (-1.68%)
Constellation Energy Group, Inc. (CEG)
CAPS Rating:
An energy company that conducts its business through various subsidiaries including a merchant energy business and Baltimore Gas and Electric Company.
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Bought some today at $22.75. Assuming the takeover deal goes through (cash deal @ $26.50/share) that's a roughly 16.5%, which in today's market is nothing to shake a stick at. Their annual dividend yield is currently over 8%. The next payment isn't until January, but with how long mergers take I wouldn't be suprised if I got to collect at least one payment while I wait, which bumps the total return up another 2% or so.
So Electricite de France just hopped in with a counter bid for a 50% stake in CEGs nuke business. This has caused the stock to jump well above my target price of $26.50. I'll have to look over the news on the offer before making a decision but there is s very good chance I'll go ahead and sell my actual shares taking the greater than expected profit. Will probably let it ride a while longer in caps though.