Independent Power Producers
Stocks Ranked by
Market Capitalization
| Name | Market cap | Price |
Price change % |
|
|---|---|---|---|---|
1
Constellation Energy
CEG
$93.8B
| $93.8B | $262.75 | 0.31% |
|
2
Vistra
VST
$50B
| $50B | $148.19 | 0.29% |
|
3
NRG Energy
NRG
$28.3B
| $28.3B | $134.29 | 0.24% |
|
|
TLN
4
Talen Energy Corp
TLN
$16B
| $16B | $334.10 | 0.47% |
|
|
OKLO
5
Oklo
OKLO
$6.76B
| $6.76B | $38.83 | 5.5% |
|
6
TransAlta
TAC
$3.95B
| $3.95B | $12.50 | 2.8% |
|
7
Kenon Holdings
KEN
$3.51B
| $3.51B | $67.37 | 1.05% |
|
8
Hallador Energy
HNRG
$670M
| $670M | $14.22 | 2.67% |
|
|
DGXX
9
Digi Power X Inc
DGXX
$363M
| $363M | $3.68 | 3.16% |
|
Independent Power Producers Stocks at a Glance
Independent power producers own merchant generation and sell electricity into wholesale and retail markets. Unlike regulated utilities, earnings ride power prices — set by fuel costs, weather, and capacity balances — making them the leveraged, higher-beta corner of the utility space.
There are 9 Independent Power Producers industry stocks tracked by Wall St. Rank, worth a combined $203B.
The largest by market cap are Constellation Energy (CEG) at $93.8B, Vistra (VST) at $50B and NRG Energy (NRG) at $28.3B.
Among institutional investors, Hallador Energy (HNRG) drew the most net new fund positions in Q1 2026: 50 funds opened new positions, taking total fund holders up 10 (5.7%) quarter-over-quarter.
- Combined market cap: $203B across 9 stocks.
- Largest constituent: Constellation Energy (CEG), $93.8B market cap.
- Most net new fund positions in Q1 2026: Hallador Energy (HNRG), +10 holders.
Market caps and prices updated daily; fund activity based on aggregated SEC 13F filings for Q1 2026.