Independent Power Producers
Stocks Ranked by
Market Capitalization
| Name | Market cap | Price |
Price change % |
|
|---|---|---|---|---|
1
Constellation Energy
CEG
$92.1B
| $92.1B | $259.89 | 1.77% |
|
2
Vistra
VST
$47.5B
| $47.5B | $141.53 | 0.57% |
|
3
NRG Energy
NRG
$22.3B
| $22.3B | $105.99 | 2.29% |
|
|
TLN
4
Talen Energy Corp
TLN
$13.5B
| $13.5B | $282.15 | 1.53% |
|
|
OKLO
5
Oklo
OKLO
$6.69B
| $6.69B | $35.98 | 0.64% |
|
6
TransAlta
TAC
$3.64B
| $3.64B | $11.50 | 2.46% |
|
7
Kenon Holdings
KEN
$3.23B
| $3.23B | $61.91 | 3.73% |
|
8
Hallador Energy
HNRG
$676M
| $676M | $14.33 | 1.04% |
|
|
DGXX
9
Digi Power X Inc
DGXX
$365M
| $365M | $3.60 | 3.49% |
|
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 $190B.
The largest by market cap are Constellation Energy (CEG) at $92.1B, Vistra (VST) at $47.5B and NRG Energy (NRG) at $22.3B.
Among institutional investors, Vistra (VST) drew the most net new fund positions in Q2 2026: 227 funds opened new positions, taking total fund holders up 88 (6.7%) quarter-over-quarter.
- Combined market cap: $190B across 9 stocks.
- Largest constituent: Constellation Energy (CEG), $92.1B market cap.
- Most net new fund positions in Q2 2026: Vistra (VST), +88 holders.
Market caps and prices updated daily; fund activity based on aggregated SEC 13F filings for Q2 2026.