KeyBanc Starts NV Energy (NVE) at Hold; Positive on Yield, But Regional Economic Woes
Tweet Send to a FriendGet Alerts NVE Hot Sheet
Price: $20.92 +1.60%
Rating Summary:
4 Buy, 9 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Rating Summary:
4 Buy, 9 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Trade NVE Now!
KeyBanc initiates coverage on NV Energy (NYSE: NVE) with a Hold.
Analyst, Paul T. Ridzon, said, "Resolution of NVE's Nevada Power rate case has provided an earnings uplift as the costs of the Company's Harry Allen combined cycle natural gas plant are reflected in rates that became effective January 1, 2012...The cash flow impact of the new rates has allowed a meaningful increase in
NVE's dividend, which currently offers a 3.9% yield...While we view the 7% discount as slightly excessive, we believe a lesser discount is appropriate given NVE's struggling regional economy."
For an analyst ratings summary and ratings history on NV Energy click here. For more ratings news on NV Energy click here.
Shares of NV Energy closed at $17.42 yesterday, with a 52 week range of $12.31-$18.18.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
Analyst, Paul T. Ridzon, said, "Resolution of NVE's Nevada Power rate case has provided an earnings uplift as the costs of the Company's Harry Allen combined cycle natural gas plant are reflected in rates that became effective January 1, 2012...The cash flow impact of the new rates has allowed a meaningful increase in
NVE's dividend, which currently offers a 3.9% yield...While we view the 7% discount as slightly excessive, we believe a lesser discount is appropriate given NVE's struggling regional economy."
For an analyst ratings summary and ratings history on NV Energy click here. For more ratings news on NV Energy click here.
Shares of NV Energy closed at $17.42 yesterday, with a 52 week range of $12.31-$18.18.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- UPDATE: Applied Materials, Inc. (AMAT) Tops Q2 EPS by 3c, Offers Guidance
- Agilent (A) Tops Q2 EPS by 9c, Trims FY13 Outlook; Adds to Buyback, Will Cut Jobs
- Credit Suisse Starts New Residential Investment (NRZ) at Outperform
Create E-mail Alert Related Categories
New CoverageRelated Entities
KeyBanc, Dividend, Earnings
Login with Facebook
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
