Wunderlich lowered shares of NV Energy (NYSE: NVE) from a buy rating to a hold rating in a report released on Monday. Wunderlich currently has $20.00 target price on the stock.
“NVE’s ON Line transmission project connecting the north and south utilities is progressing, as approved tower construction has restarted. ON Line remains on track to be in service by yearend. NVE is still targeting mid-year merger filings about 6 months before ON Line is complete. While pursuing legislation to delay the NVE-North rate case legally required in June, management stated they are prepared to file should legislation fail. State regulators are against the legislation, suggesting an increase in regulatory risk.,” the firm’s analyst commented.
Shares of NV Energy traded up 0.10% during mid-day trading on Monday, hitting $19.40. NV Energy has a one year low of $15.40 and a one year high of $19.81. The stock’s 50-day moving average is currently $18.94. The company has a market cap of $4.561 billion and a P/E ratio of 14.36.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, March 20th. Investors of record on Tuesday, March 5th will be paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 3.92%. The ex-dividend date is Friday, March 1st. This is an increase from NV Energy’s previous quarterly dividend of $0.17.
A number of other firms have also recently commented on NVE. Analysts at SunTrust initiated coverage on shares of NV Energy in a research note to investors on Wednesday, January 16th. They set a neutral rating on the stock. Analysts at Citigroup downgraded shares of NV Energy from a buy rating to a neutral rating in a research note to investors on Tuesday, January 8th. They now have a $19.00 price target on the stock, down previously from $21.00.
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