Tenaga Nasional Berhad (OTCMKTS:TNABY) Shares Gap Up – Here’s Why

Tenaga Nasional Berhad (OTCMKTS:TNABY) shares gapped up before the market opened on Wednesday . The stock had previously closed at $12.75, but opened at $13.99. Tenaga Nasional Berhad shares last traded at $13.99, with a volume of 680 shares.

Analysts Set New Price Targets

Separately, Zacks Research upgraded shares of Tenaga Nasional Berhad to a “hold” rating in a research note on Wednesday, June 24th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has an average rating of “Hold”.

Tenaga Nasional Berhad Stock Up 2.7%

The firm’s fifty day moving average is $14.28 and its 200-day moving average is $14.50. The stock has a market capitalization of $18.69 billion, a PE ratio of 46.14 and a beta of -0.37.

About Tenaga Nasional Berhad

Tenaga Nasional Berhad (OTCMKTS:TNABY) is Malaysia’s largest integrated electricity utility and a government-linked company. Through its subsidiaries and operating businesses, the company generates, transmits, distributes and retails electricity, primarily serving customers in Peninsular Malaysia, with additional activities connected to Sabah and Labuan.

The company operates a diversified power-generation portfolio that includes conventional and renewable energy assets. Its transmission and distribution networks deliver electricity to residential, commercial and industrial customers, while its retail and energy-services activities support customer solutions, energy efficiency and related utility needs.

Tenaga Nasional has also expanded beyond its domestic utility base through investments in renewable energy, power generation and engineering-related businesses in selected international markets.