CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT Increases Stock Position in GE Vernova Inc. $GEV

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT raised its stake in shares of GE Vernova Inc. (NYSE:GEV) by 46.1% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 46,750 shares of the company’s stock after purchasing an additional 14,750 shares during the period. GE Vernova accounts for approximately 1.6% of CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT’s holdings, making the stock its 20th biggest position. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT’s holdings in GE Vernova were worth $28,747,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in GEV. Sachetta LLC grew its holdings in GE Vernova by 10.7% during the 2nd quarter. Sachetta LLC now owns 165 shares of the company’s stock valued at $87,000 after buying an additional 16 shares in the last quarter. Good Life Advisors LLC boosted its position in shares of GE Vernova by 1.0% during the 2nd quarter. Good Life Advisors LLC now owns 1,654 shares of the company’s stock valued at $875,000 after acquiring an additional 16 shares during the last quarter. Bell Investment Advisors Inc grew its holdings in shares of GE Vernova by 6.7% in the second quarter. Bell Investment Advisors Inc now owns 256 shares of the company’s stock valued at $135,000 after purchasing an additional 16 shares in the last quarter. Northwest Wealth Management LLC increased its position in GE Vernova by 3.6% in the third quarter. Northwest Wealth Management LLC now owns 465 shares of the company’s stock worth $286,000 after purchasing an additional 16 shares during the last quarter. Finally, AMG National Trust Bank raised its stake in GE Vernova by 1.5% during the second quarter. AMG National Trust Bank now owns 1,145 shares of the company’s stock valued at $606,000 after purchasing an additional 17 shares in the last quarter.

Analyst Ratings Changes

Several research firms have commented on GEV. Wolfe Research raised shares of GE Vernova from a “peer perform” rating to a “buy” rating in a research note on Wednesday, December 10th. Citigroup lowered their price target on shares of GE Vernova from $670.00 to $658.00 and set a “neutral” rating for the company in a report on Thursday, October 23rd. William Blair reissued an “outperform” rating on shares of GE Vernova in a research note on Wednesday, December 10th. The Goldman Sachs Group raised their price objective on GE Vernova from $735.00 to $840.00 and gave the company a “buy” rating in a research note on Tuesday, December 16th. Finally, Mizuho cut their target price on GE Vernova from $677.00 to $660.00 and set a “neutral” rating on the stock in a research report on Friday, October 24th. Four equities research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, GE Vernova has an average rating of “Moderate Buy” and an average target price of $691.11.

GE Vernova Stock Performance

GEV opened at $659.74 on Wednesday. The stock’s 50 day moving average price is $608.20 and its 200-day moving average price is $598.63. GE Vernova Inc. has a one year low of $252.25 and a one year high of $731.00. The stock has a market cap of $179.00 billion, a price-to-earnings ratio of 107.45, a P/E/G ratio of 5.06 and a beta of 1.71.

GE Vernova (NYSE:GEV) last issued its quarterly earnings results on Wednesday, October 22nd. The company reported $1.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.72 by ($0.08). The business had revenue of $9.97 billion for the quarter, compared to the consensus estimate of $9.15 billion. GE Vernova had a return on equity of 17.07% and a net margin of 4.52%.GE Vernova’s revenue was up 11.8% on a year-over-year basis. During the same period in the prior year, the business posted ($0.35) earnings per share. As a group, analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 2nd. Stockholders of record on Monday, January 5th will be issued a $0.50 dividend. The ex-dividend date is Monday, January 5th. This is a boost from GE Vernova’s previous quarterly dividend of $0.25. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.3%. GE Vernova’s dividend payout ratio (DPR) is currently 32.57%.

GE Vernova Profile

GE Vernova is the energy-focused company formed from the energy businesses of General Electric and operates as a publicly listed entity on the NYSE under the ticker GEV. It is organized to design, manufacture and service equipment and systems used across the power generation and energy transition value chain, bringing together legacy capabilities in conventional power, renewables and grid technologies under a single corporate platform.

The company’s offerings span large-scale power-generation equipment such as gas and steam turbines and associated generators and controls, as well as renewable energy technologies including onshore and offshore wind platforms and hydro solutions.