KeyBanc Starts NV Energy (NVE) at Hold; Positive on Yield, But Regional Economic Woes

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.

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