NV Energy (NYSE:NVE) First Quarter Profit Hikes 76% Lower Outlays

NV Energy, Inc (NYSE:NVE) announced fiscal Q1 earnings moved up 76 percent as the company sharply shattered costs, assisting to counterbalance lower revenue.

The utilities company attributed the quarter’s higher results to favorable weather when compared with previous year, also lower operations and maintenance costs, partially because of the timing of power plant outages.

The Las Vegas, Nevada based company declared a profit of $21.5 million or 9 cents per share, high from $12.2 million or 5 cents per share in previous year. Quarterly revenue tumbled 4.5 percent to $584.2 million.

Thomson Reuters analysts survey most recently estimated EPS of 9 cents on $616 million of revenue.

Shifting reader’s focus to broader market, let us consider market performance of other stocks that significantly affect same sector. Xcel Energy Inc (NYSE:XEL) fell -0.51% to settle at $31.19, UNS Energy Corp (NYSE:UNS) moved up +0.69% to end at $50.73 while NorthWestern Corp (NYSE:NWE) jumped +1.16% to finish at $42.82 on Friday.

NV Energy, Inc. (NYSE:NVE) last session’s volume of 2.07 million shares was surprisingly lower than its average volume of 2.84 million shares. The stock after opening at $21.40 hit high price of $21.52 and then closed at $21.23 by scoring -0.05%.

The liquidity measure in recent quarter results of the company was recorded 0.86 as current ratio and on the other side the debt to equity ratio was 1.42 and long-term debt to equity ratio remained at 1.28. The Company had total cash of $250.95 million at hand and a book value per share as $15.13 in the most recent quarter.

The stock’s price volatility was 1.47% for a week and 1.48% for a month as well as price volatility’s Average True Range for 14 days was 0.31 and its beta remained at 0.52.

NVE generated revenue of $2.95 billion in the previous twelve months and earned $331.25 million. The Company showed a positive 11.22% in the net profit margin as well as in its operating margin which remained at 26.86%. Company’s annual sales growth for the past five years was -3.72%.

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