Utility stocks have been under pressure for the past few years as high interest rates depressed these capital intensive businesses.
GE Vernova Inc. GEV shares are trading higher after several analysts raised the price targets on the stock following third-quarter earnings reported on Wednesday.
GE Vernova Inc. (NYSE:GEV ) Q3 2024 Earnings Conference Call October 23, 2024 7:30 AM ET Company Participants Michael Lapides - Vice President of Investor Relations Scott Strazik - Chief Executive Officer Ken Parks - Chief Financial Officer Conference Call Participants Julian Mitchell - Barclays Nicole DeBlase - Deutsche Bank Andrew Percoco - Morgan Stanley Joe Ritchie - Goldman Sachs Julien Dumoulin-Smith - Jefferies Andrew Obin - Bank of America Andrew Kaplowitz - Citigroup Mark Strouse - JPMorgan Chris Dendrinos - RBC Capital Markets Operator Good day, ladies and gentlemen and welcome to the GE Vernova's Third Quarter 2024 Earnings Conference Call. At this time, all participants are in a listen-only mode.
GE Vernova (GEV) shares fell Wednesday morning after the energy company reported an unexpected loss, its second time in three quarters as a standalone company that it has posted an unprofitable period.
GEV has a Zacks Rank #3 and an Earnings ESP of -20.30% at present, which do not indicate an earnings beat for the company this earnings season.
In the most recent trading session, GE Vernova (GEV) closed at $266.36, indicating a -1.17% shift from the previous trading day.
The latest trading day saw GE Vernova (GEV) settling at $262.54, representing a -1.15% change from its previous close.
Investors interested in GEV should wait for a better entry point, considering its premium valuation. Yet, those who already have it in their portfolio may continue to do so.
GE Vernova (GEV) stock price has gone vertical, soaring to a record high of $265. It has jumped by over 135% from its lowest point on record, bringing its market cap to over $72 billion, making it one of the top players in energy.
On September 30, 2024, Vanguard Group Inc, a prominent investment firm, expanded its portfolio by acquiring an additional 601,784 shares of GE Vernova Inc (GEV, Financial), a leader in the electric power industry. This transaction increased Vanguard's total holdings in GE Vernova to 27,499,067 shares, reflecting a significant commitment to the company.
In the latest trading session, GE Vernova (GEV) closed at $256.53, marking a +0.61% move from the previous day.
Julien Dumoulin-Smith, Jefferies analyst, joins ‘Fast Money' to discuss GE Vernova as the stock of the energy company is having a tremendous run this year.