Vectren Corporation (VVC) Given Average Recommendation of “Buy” by Brokerages

Shares of Vectren Corporation (NYSE:VVC) have been given an average rating of “Buy” by the six analysts that are covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $75.00.

A number of equities analysts have weighed in on the company. ValuEngine lowered Vectren from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Zacks Investment Research lowered Vectren from a “buy” rating to a “hold” rating in a research report on Wednesday, August 9th. BidaskClub raised Vectren from a “hold” rating to a “buy” rating in a research report on Wednesday, August 23rd. Finally, Citigroup boosted their target price on Vectren from $66.00 to $75.00 and gave the stock a “buy” rating in a research report on Monday, November 20th.

In other Vectren news, Director Derrick Burks purchased 1,000 shares of Vectren stock in a transaction dated Thursday, September 28th. The stock was purchased at an average price of $65.60 per share, with a total value of $65,600.00. Following the transaction, the director now directly owns 1,000 shares of the company’s stock, valued at $65,600. The purchase was disclosed in a document filed with the SEC, which is available through this link. 0.14% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in VVC. State Street Corp boosted its position in shares of Vectren by 14.6% during the 2nd quarter. State Street Corp now owns 5,808,728 shares of the utilities provider’s stock valued at $339,461,000 after acquiring an additional 740,825 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Vectren by 86.4% during the second quarter. Principal Financial Group Inc. now owns 1,320,557 shares of the utilities provider’s stock worth $77,173,000 after purchasing an additional 612,201 shares during the period. Caisse DE Depot ET Placement DU Quebec acquired a new stake in shares of Vectren during the third quarter worth about $31,702,000. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Vectren by 1,761.9% during the second quarter. Arrowstreet Capital Limited Partnership now owns 348,171 shares of the utilities provider’s stock worth $20,347,000 after purchasing an additional 329,471 shares during the period. Finally, Assenagon Asset Management S.A. acquired a new stake in shares of Vectren during the third quarter worth about $20,101,000. 63.99% of the stock is owned by hedge funds and other institutional investors.

Shares of Vectren (VVC) traded up $0.17 during trading on Friday, reaching $68.45. 231,247 shares of the company were exchanged, compared to its average volume of 382,667. The company has a market cap of $5,700.60, a PE ratio of 25.34, a price-to-earnings-growth ratio of 4.63 and a beta of 0.83. Vectren has a 52 week low of $49.72 and a 52 week high of $69.86. The company has a current ratio of 0.70, a quick ratio of 0.55 and a debt-to-equity ratio of 0.90.

Vectren (NYSE:VVC) last issued its earnings results on Thursday, November 2nd. The utilities provider reported $0.75 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.67 by $0.08. Vectren had a return on equity of 12.51% and a net margin of 8.49%. The business had revenue of $691.20 million during the quarter, compared to analyst estimates of $615.00 million. During the same quarter in the previous year, the firm earned $0.74 EPS. Vectren’s revenue was up 9.5% on a year-over-year basis. research analysts anticipate that Vectren will post 2.62 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, December 1st. Shareholders of record on Wednesday, November 15th were given a $0.45 dividend. This is a positive change from Vectren’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend was Tuesday, November 14th. This represents a $1.80 dividend on an annualized basis and a yield of 2.63%. Vectren’s payout ratio is 66.42%.

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About Vectren

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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