General Electric Breaks a Billion with Natural Gas Turbine Orders
General Electric Company (NYSE:GE) said that it has logged over $1 billion in natural gas (NYSE:UNG) turbine orders this year in North America following the increased demand and production of shale gas. The company also introduced a new turbine to meet spikes in demand. This is another example of General Electric performing well with energy (NYSE:XLE) related products.
General Electric shares trade at $15.89, up about 3% from yesterday. This represents a P/E ratio of about 12 which is in line with its industry. The company also trades at a sales multiple of 1.1 which is much higher than its industry rivals. On the technical front shares trade well below their declining 50 and 200 day moving averages. The MACD is bullish while RSI is pointing up at 44.