GE Vernova shares rose 2.8% Monday, closing at $801.25 after securing a sales reservation agreement with Canadian electricity producer Maxim Power.
The deal involves a 7HA.02 gas turbine and generator package. Maxim must provide a nonrefundable deposit in 2026, with turbine pricing to be negotiated later.
Shares traded as high as $814.86 during the session. The stock previously closed at $779.35.
Volume came in at 3.07 million shares, down 9% from the average daily volume of 3.39 million. The fifty-day moving average sits at $670.00.
GE Vernova is rapidly selling out manufacturing capacity through 2030. CEO Scott Strazik said on January 28 that slots for 2029 remain available but won’t last long.
The company ended 2025 with 83 gigawatts of gas power generation in backlog. Management projects hitting 100 gigawatts by year-end, which would leave 2029 and 2030 largely sold out.
GE Vernova is boosting annual production capacity to 20 gigawatts this year. A recent strategic alliance with Xcel included five F-class turbines not yet counted in the January 28 backlog figure.
Electricity demand from AI data centers has created an energy supercycle. Wall Street projects 2030 EBITDA of nearly $17 billion, up from $9 billion estimates a year ago.
The January 28 Q4 earnings report showcased explosive growth. GE Vernova posted $13.39 earnings per share, beating the $2.99 consensus by $10.40.
Revenue hit $10.96 billion versus $10.21 billion expected. The company delivered a 12.8% net margin and 46.9% return on equity.
Quarterly revenue grew 3.8% year-over-year. The company posted $1.73 EPS in the same period last year.
GE Vernova doubled its quarterly dividend to $0.50 from $0.25, representing a $2.00 annualized payout. The yield sits at approximately 0.2% with an 11.2% payout ratio.
Shareholders of record on January 5 received payment February 2.
Twenty-two analysts rate the stock a Buy, with one Strong Buy, three Hold ratings, and one Sell. The consensus is “Moderate Buy” with an average price target of $788.24.
BMO Capital Markets maintained an Outperform rating with a $785 target on January 29. UBS Group reaffirmed its Buy rating the same day.
China Renaissance upgraded to Strong Buy on January 29. JPMorgan Chase maintained its Overweight rating in December.
The company has a $216 billion market cap with a P/E ratio of 43.78. Beta stands at 1.67.
Shares have surged more than fivefold since splitting from GE Aerospace in early 2024. Over the past year, the stock has gained 102%.
GE Vernova hit a new 52-week high earlier Monday. The S&P 500 rose 0.5% while the Dow Jones Industrial Average finished flat.
Maxim Power stock fell 0.2% Monday and is down 20% over the past year.
The post GE Vernova (GEV) Stock Rises 2.8% on Maxim Power Turbine Agreement appeared first on Blockonomi.
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