New York, Feb 13, 2026, 18:54 (EST) — After-hours
- Constellation Energy jumped roughly 4.5% to $288.43 in after-hours trading.
- Capital International Investors disclosed in a late SEC filing that it owns a passive 5.5% stake
- Power generator stocks picked up, helped by traders zeroing in on data-center demand along with grid regulations.
Shares of Constellation Energy climbed roughly 4.5% on Friday, hanging onto gains in after-hours trading. The stock outperformed the broader market as power stocks moved higher.
This shift is catching attention as traders once more factor in grid constraints and surging data-center demand—variables now seen as capable of rewriting contracts and margin outlooks for big power producers. Investors aren’t waiting around; they’ve rapidly adjusted prices to reflect this, particularly with new rules on the table that might force tech and data-center operators into signing up for long-term electricity agreements.
PJM Interconnection’s new plan lands against that backdrop. Analysts speaking with Reuters said the move might accelerate bilateral deals linking data center operators with independent power producers. One analyst is already predicting a “flurry of major data center-slash-power deals” in the months ahead. Reuters
Last month, PJM—the largest grid operator in the U.S.—outlined several paths for integrating new large power users. These include requiring those loads to add new generation or sign on to a “connect and manage” system, which could mean getting cut off sooner when grid capacity is strained. PJM Inside Lines
Constellation wasn’t the only mover. Vistra picked up nearly 5.2%, NRG Energy tacked on around 6.5%, while Talen Energy advanced close to 2.5% for the session.
Constellation finished the day at $288.43, climbing 4.46%. Trading topped 5.4 million shares, which beats its 50-day average, MarketWatch data show. Even after the jump, the stock is still sitting roughly 30% under its 52-week peak of $412.70.
Capital International Investors disclosed after the bell in a Schedule 13G that it held 17,170,795 shares of Constellation, representing a 5.5% stake in the company’s common stock as of Dec. 31, 2025. Such filings generally indicate the investor isn’t attempting to gain control.
The grid and data-center play isn’t without pitfalls. PJM’s proposal faces both regulatory snags and real-world challenges, and projects often get stuck in queues for permits, interconnection, or state-level signoff. Should policy tailwinds ease up, the sector is quick to surrender its gains.
It’s a bumpy stretch for traders. U.S. markets take a break Monday, Feb. 16, for Presidents Day, and trading picks back up Tuesday, Feb. 17. That’s when eyes will turn to see if momentum holds in the power group — plus any new headlines tied to data-center contracts.
