Independent Power Producers
Stocks Ranked by
Market Capitalization
| Name | Market cap | Price |
Price change % |
|
|---|---|---|---|---|
1
Constellation Energy
CEG
$93B
| $93B | $262.38 | 0.83% |
|
2
Vistra
VST
$46.4B
| $46.4B | $138.37 | 1.83% |
|
3
NRG Energy
NRG
$20.2B
| $20.2B | $96.06 | 1.52% |
|
4
Talen Energy Corp
TLN
$16.2B
| $16.2B | $343.12 | 1.64% |
|
5
Oklo
OKLO
$4.7B
| $4.7B | $25.25 | 5.82% |
|
6
TransAlta
TAC
$4.11B
| $4.11B | $12.98 | 1.74% |
|
7
Kenon Holdings
KEN
$3.34B
| $3.34B | $64.11 | 5.73% |
|
8
Hallador Energy
HNRG
$529M
| $529M | $11.22 | 4.35% |
|
9
Digi Power X Inc
DGXX
$225M
| $225M | $2.22 | 6.72% |
|
|
ONEN
10
ONE Nuclear Energy Inc. Common Stock
ONEN
$134M
| $134M | $1.26 | 5.97% |
|
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 10 Independent Power Producers industry stocks tracked by Wall St. Rank, worth a combined $189B.
The largest by market cap are Constellation Energy (CEG) at $93B, Vistra (VST) at $46.4B and NRG Energy (NRG) at $20.2B.
Among institutional investors, Vistra (VST) drew the most net new fund positions in Q2 2026: 232 funds opened new positions, taking total fund holders up 94 (7.1%) quarter-over-quarter.
- Combined market cap: $189B across 10 stocks.
- Largest constituent: Constellation Energy (CEG), $93B market cap.
- Most net new fund positions in Q2 2026: Vistra (VST), +94 holders.
Market caps and prices updated daily; fund activity based on aggregated SEC 13F filings for Q2 2026.