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Stock Investors Bid Up Shares of Inergy, Up 4.3%

Published on Wed, 03/20/2013 - 12:15
By Mallory Stone

One of today's notable stocks on the rise is Inergy (NYSE:NRGY), up 4.3% to $19.95. The Dow Jones Industrial Average is now trading 0.4% higher to 14,513 and the S&P is trading 0.6% higher to 1,557.

Potential upside of 11.9% exists for Inergy, based on a current level of $19.95 and analysts' average consensus price target of $22.33. Inergy shares have support at the 50-day moving average (MA) of $19.93 and additional support at the 200-day MA of $19.39.

Inergy, L.P. owns and operates a retail and wholesale propane marketing and distribution business. The Company's retail business includes the retail marketing, sale, and distribution of propane to residential, commercial, industrial, and agricultural customers. Inergy's wholesale business includes propane procurement, transportation, supply, and price risk management services.

In the past 52 weeks, shares of Inergy have traded between a low of $15.22 and a high of $21.99 and are now at $19.95, which is 31% above that low price. The 200-day and 50-day moving averages have moved 0.13% higher and 0.03% lower over the past week, respectively.

By Mallory Stone