Vectren Corporation (VVC) Stake Lowered by First Merchants Corp

First Merchants Corp decreased its stake in shares of Vectren Corporation (NYSE:VVC) by 1.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 80,767 shares of the utilities provider’s stock after selling 1,392 shares during the period. Vectren Corporation makes up 1.3% of First Merchants Corp’s portfolio, making the stock its 11th largest position. First Merchants Corp owned about 0.10% of Vectren Corporation worth $4,719,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. IFP Advisors Inc raised its position in shares of Vectren Corporation by 30.0% in the first quarter. IFP Advisors Inc now owns 7,427 shares of the utilities provider’s stock valued at $435,000 after buying an additional 1,715 shares during the period. Russell Investments Group Ltd. raised its position in shares of Vectren Corporation by 11.7% in the first quarter. Russell Investments Group Ltd. now owns 43,505 shares of the utilities provider’s stock valued at $2,550,000 after buying an additional 4,552 shares during the period. First Quadrant L P CA raised its position in shares of Vectren Corporation by 86.0% in the first quarter. First Quadrant L P CA now owns 526,223 shares of the utilities provider’s stock valued at $30,842,000 after buying an additional 243,297 shares during the period. Glen Harbor Capital Management LLC raised its position in shares of Vectren Corporation by 17.3% in the first quarter. Glen Harbor Capital Management LLC now owns 7,458 shares of the utilities provider’s stock valued at $437,000 after buying an additional 1,100 shares during the period. Finally, ProShare Advisors LLC raised its position in shares of Vectren Corporation by 23.0% in the first quarter. ProShare Advisors LLC now owns 173,718 shares of the utilities provider’s stock valued at $10,182,000 after buying an additional 32,503 shares during the period. 64.45% of the stock is currently owned by institutional investors and hedge funds.

Shares of Vectren Corporation (NYSE:VVC) opened at 60.91 on Friday. The stock’s 50 day moving average price is $59.63 and its 200-day moving average price is $58.75. The firm has a market cap of $5.05 billion, a price-to-earnings ratio of 22.57 and a beta of 0.81. Vectren Corporation has a 52-week low of $46.52 and a 52-week high of $62.79.

Vectren Corporation (NYSE:VVC) last posted its earnings results on Thursday, August 3rd. The utilities provider reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.02. The firm had revenue of $630.70 million for the quarter, compared to the consensus estimate of $565.12 million. Vectren Corporation had a return on equity of 12.65% and a net margin of 8.66%. The business’s quarterly revenue was up 18.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.39 earnings per share. On average, analysts forecast that Vectren Corporation will post $2.62 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Tuesday, August 15th will be given a dividend of $0.42 per share. The ex-dividend date of this dividend is Friday, August 11th. This represents a $1.68 annualized dividend and a dividend yield of 2.76%. Vectren Corporation’s dividend payout ratio is currently 62.22%.

Several equities analysts have recently issued reports on the company. Zacks Investment Research raised Vectren Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, June 20th. BidaskClub lowered Vectren Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, June 15th. Finally, Citigroup Inc. increased their target price on Vectren Corporation from $58.00 to $66.00 and gave the company a “buy” rating in a research note on Tuesday, May 9th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $65.50.

Vectren Corporation Company Profile

Vectren Corporation (Vectren) is an energy holding company. The Company segregates its operations into groups, including the Utility Group, the Nonutility Group, and Corporate and Other. The Company’s subsidiary, Vectren Utility Holdings, Inc (Utility Holdings or VUHI), serves as the intermediate holding company for three public utilities: Indiana Gas Company, Inc (Indiana Gas), Southern Indiana Gas and Electric Company (SIGECO) and Vectren Energy Delivery of Ohio, Inc (VEDO).