ENGIE (OTCMKTS:ENGIY) Shares Gap Up – Time to Buy?

ENGIE – Sponsored ADR (OTCMKTS:ENGIY) gapped up before the market opened on Friday . The stock had previously closed at $30.28, but opened at $31.2799. ENGIE shares last traded at $31.20, with a volume of 12,357 shares trading hands.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Sanford C. Bernstein downgraded shares of ENGIE from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 14th. Morgan Stanley reiterated an “overweight” rating on shares of ENGIE in a report on Monday, May 11th. Zacks Research raised shares of ENGIE from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 27th. Citigroup restated a “buy” rating on shares of ENGIE in a report on Friday, April 17th. Finally, Barclays reaffirmed an “overweight” rating on shares of ENGIE in a research report on Thursday, June 18th. Two analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy”.

ENGIE Stock Up 0.9%

The business has a fifty day moving average of $31.90 and a 200 day moving average of $30.53. The company has a quick ratio of 1.03, a current ratio of 1.08 and a debt-to-equity ratio of 1.06.

About ENGIE

ENGIE is a Paris-headquartered multinational energy company engaged across the value chain of electricity and natural gas, along with associated infrastructure and services. The company develops, builds and operates power generation assets (including gas-fired plants and an expanding portfolio of renewable generation such as wind, solar and hydro), trades and markets energy commodities, and supplies energy to industrial, commercial and residential customers. ENGIE also provides energy infrastructure and networks, liquefied natural gas (LNG) solutions, and a range of energy services including energy efficiency, facility management and distributed energy systems.

The group traces its modern corporate roots to the 2008 combination of Gaz de France and Suez, and subsequently adopted the ENGIE name in 2015 as part of a strategic repositioning.