BidaskClub upgraded shares of Vectren Corporation (NYSE:VVC) from a strong sell rating to a sell rating in a research note issued to investors on Monday, July 24th.
A number of other equities analysts also recently commented on the company. Zacks Investment Research upgraded Vectren Corporation from a hold rating to a buy rating and set a $65.00 price objective on the stock in a report on Thursday, July 13th. Citigroup Inc. increased their price objective on Vectren Corporation from $58.00 to $66.00 and gave the stock a buy rating in a report on Tuesday, May 9th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. The company presently has an average rating of Hold and a consensus price target of $65.50.
Vectren Corporation (NYSE:VVC) traded up 0.53% during midday trading on Monday, hitting $60.91. 204,850 shares of the company traded hands. Vectren Corporation has a 12-month low of $46.52 and a 12-month high of $62.79. The company has a market cap of $5.05 billion, a PE ratio of 22.57 and a beta of 0.81. The stock has a 50 day moving average price of $59.63 and a 200-day moving average price of $58.75.
Vectren Corporation (NYSE:VVC) last released its quarterly earnings data on Thursday, August 3rd. The utilities provider reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.02. Vectren Corporation had a return on equity of 12.65% and a net margin of 8.66%. The firm had revenue of $630.70 million for the quarter, compared to the consensus estimate of $565.12 million. During the same quarter in the prior year, the company posted $0.39 earnings per share. The firm’s revenue was up 18.2% on a year-over-year basis. Analysts expect that Vectren Corporation will post $2.62 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Tuesday, August 15th will be issued a $0.42 dividend. The ex-dividend date of this dividend is Friday, August 11th. This represents a $1.68 dividend on an annualized basis and a yield of 2.76%. Vectren Corporation’s dividend payout ratio is currently 62.22%.
A number of institutional investors have recently added to or reduced their stakes in VVC. Banco BTG Pactual S.A. bought a new stake in shares of Vectren Corporation during the second quarter worth about $964,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of Vectren Corporation during the second quarter worth about $826,000. Piedmont Investment Advisors LLC boosted its stake in shares of Vectren Corporation by 43.4% in the second quarter. Piedmont Investment Advisors LLC now owns 33,355 shares of the utilities provider’s stock worth $1,949,000 after buying an additional 10,097 shares during the last quarter. Ameritas Investment Partners Inc. boosted its stake in shares of Vectren Corporation by 1.2% in the second quarter. Ameritas Investment Partners Inc. now owns 32,524 shares of the utilities provider’s stock worth $1,900,000 after buying an additional 380 shares during the last quarter. Finally, Nomura Holdings Inc. bought a new stake in shares of Vectren Corporation during the second quarter worth about $326,000. Hedge funds and other institutional investors own 64.45% of the company’s stock.
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).
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