Constellation to sell gas plant to LS Power, raises operating earnings forecast

Constellation Energy will sell a Texas gas plant to LS Power for $860 million. The company also raised its current-year operating earnings forecast, citing robust power demand, which should support near-term earnings visibility and is likely to be positive for the stock.

Analysis

Constellation Energy will sell a Texas gas plant to LS Power for $860 million. The company also raised its current-year operating earnings forecast, citing robust power demand, which should support near-term earnings visibility and is likely to be positive for the stock.