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Trade-Ideas: NV Energy (NVE) Is Today's "Water-Logged And Getting Wetter" Stock

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

Trade-Ideas LLC identified NV Energy (NVE) as a "water-logged and getting wetter" (weak stocks crossing below support with today's range greater than 200%) candidate. In addition to specific proprietary factors, Trade-Ideas identified NV Energy as such a stock due to the following factors:

  • NVE has an average dollar-volume (as measured by average daily share volume multiplied by share price) of $38.5 million.
  • NVE has traded 77,277 shares today.
  • NVE traded in a range 710% of the normal price range with a price range of $0.35.
  • NVE traded below its daily resistance level (quality: 90 days, meaning that the stock is crossing a resistance level set by the last 90 calendar days. The resistance price is defined by the Price - $0.01 at the time of the signal).

Stocks matching the 'Water-Logged and Getting Wetter' criteria are worthwhile stocks to watch for a variety of factors including historical back testing and volatility. Trade-Ideas targets these opportunities because the stock is exhibiting an unusual behavior while displaying negative price action. In this case, the stock crossed an important inflection point; namely, "support" while at the same time the range of the stock's movement in price is twice its normal size. This large range foreshadows a possible continuation as the stock moves lower.

EXCLUSIVE OFFER: Get the inside scoop on opportunities in NVE with the Ticky from Trade-Ideas. See the FREE profile for NVE NOW at Trade-Ideas

More details on NVE:

NV Energy, Inc., together with its subsidiaries, engages in the generation, transmission, distribution, and sale of electric energy in Nevada. The company generates electricity from its gas, oil, and coal generating units. It also delivers natural gas service. The stock currently has a dividend yield of 3.2%. NVE has a PE ratio of 17.3. Currently there is 1 analyst that rates NV Energy a buy, no analysts rate it a sell, and 7 rate it a hold.

The average volume for NV Energy has been 3.6 million shares per day over the past 30 days. NV Energy has a market cap of $5.6 billion and is part of the utilities sector and utilities industry. The stock has a beta of 0.26 and a short float of 0.4% with 0.56 days to cover. Shares are up 30.8% year to date as of the close of trading on Tuesday.

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12-months. Learn more.

TheStreetRatings.com Analysis:

TheStreet Quant Ratings rates NV Energy as a buy. The company's strengths can be seen in multiple areas, such as its solid stock price performance, expanding profit margins and notable return on equity. We feel these strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated.

Highlights from the ratings report include:

  • Compared to its closing price of one year ago, NVE's share price has jumped by 31.90%, exceeding the performance of the broader market during that same time frame. Turning to the future, naturally, any stock can fall in a major bear market. However, in almost any other environment, the stock should continue to move higher despite the fact that it has already enjoyed nice gains in the past year.
  • 38.53% is the gross profit margin for NV ENERGY INC which we consider to be strong. It has increased from the same quarter the previous year. Along with this, the net profit margin of 8.64% is above that of the industry average.
  • The return on equity has improved slightly when compared to the same quarter one year prior. This can be construed as a modest strength in the organization. Compared to other companies in the Electric Utilities industry and the overall market on the basis of return on equity, NV ENERGY INC has outperformed in comparison with the industry average, but has underperformed when compared to that of the S&P 500.
  • NVE, with its decline in revenue, underperformed when compared the industry average of 15.9%. Since the same quarter one year prior, revenues slightly dropped by 1.2%. The declining revenue appears to have seeped down to the company's bottom line, decreasing earnings per share.
  • NV ENERGY INC's earnings per share declined by 6.9% in the most recent quarter compared to the same quarter a year ago. This company has reported somewhat volatile earnings recently. We feel it is likely to report a decline in earnings in the coming year. During the past fiscal year, NV ENERGY INC increased its bottom line by earning $1.35 versus $0.68 in the prior year. For the next year, the market is expecting a contraction of 3.0% in earnings ($1.31 versus $1.35).

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12-months. Learn more.

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