4. NV Energy (NVE - Get Report) operates through six primary, wholly owned subsidiaries: Nevada Power Company, Sierra Pacific Power Company, Sierra Pacific Energy Company, NVE Insurance Company and Lands of Sierra.
Of the 15 analysts covering the stock, 53% rate it a buy and the rest rate it a hold. There are no sell ratings on the stock. The average 12-month price target of analysts surveyed by Bloombergis $16.84, which is 10.0% higher than the current price.
For the third quarter of 2011, the company recorded net income of $173.5 million, or 73 cents per share. Operating revenue for the quarter was $1.02 billion. Operating income increased to $353.2 million from $343.4 million in the year-ago quarter. In the last week of October, the company declared a cash dividend of 13 cents per share, payable Dec. 21 to shareholders of record on Dec. 6.For 2011, the company plans to meet all the system deployment milestones to achieve NV Energize project completion by 2012. The estimated cost for NV Energize stands at $300 million with almost 516,000 smart meters installed. The company estimates it will install an additional 1.45 million smart meters by 2012.