Previous close | 36.57 |
Open | 36.94 |
Bid | 0.00 x 0 |
Ask | 0.00 x 0 |
Day's range | 36.78 - 37.05 |
52-week range | 22.54 - 37.05 |
Volume | |
Avg. volume | 50,360 |
Market cap | 38.69B |
Beta (5Y monthly) | 0.69 |
PE ratio (TTM) | 21.29 |
EPS (TTM) | N/A |
Earnings date | N/A |
Forward dividend & yield | 0.65 (1.74%) |
Ex-dividend date | 28 Sept 2023 |
1y target est | N/A |
General Electric (GE) has successfully split its business into three independent companies, with GE Vernova (GEV) representing the energy-focused division. RBC Capital Markets Analyst Chris Dendrinos joins Yahoo Finance Live to discuss his bullish initiation of coverage on GE Vernova, rating the stock as Outperform with a $160 price target. Dendrinos explains that with "multi-national conglomerate[s]," funds are often invested in certain parts of the business while others remain underinvested. With General Electric's company splitting into standalone businesses, he believes all investments for GE Vernova will be directed into the energy business, boosting transformation efforts. When asked about competition concerns, Dendrinos says that GE Vernova is a "leader" in all of its segments. However, he notes that on the wind front, Siemens Energy (ENR.DE) could be a competitor, and in the power segment, Mitsubishi (6503.T) could pose a challenge. Dendrinos highlights that GE Vernova has a "multi-year pathway" to financial improvement, emphasizing that it will be a long-term effort to reach normalization. Nevertheless, he believes the company will eventually achieve the desired free cash flow, which should boost the stock's valuation. For more expert insight and the latest market action, click here to watch this full episode of Market Domination. Editor's note: This article was written by Angel Smith
The first electricity has been produced from the large Hollandse Kust Noord offshore wind farm, companies running the project said on Monday. In a statement, the CrossWind consortium led by Shell and Mitsubishi subsidiary Eneco said it had delivered several megawatt-hours worth of electricity to the Dutch mainland via the electricity grid, operated by state-owned TenneT. "In coming months production capacity will be constantly increased, so the wind park will eventually generate 3.3 TWh (terawatt-hours) a year," Eneco said in the statement.