Vectren Corp Shares Gap Up Following Dividend Announcement (VVC)
Vectren Corp (NYSE:VVC) gapped up prior to trading on Friday following a dividend announcement from the company, AnalystRatingsNetwork.com reports. The stock had previously closed at $37.69, but opened at $37.80. Vectren Corp shares last traded at $38.22, with a volume of 72,822 shares traded.
The newly announced dividend is scheduled for Tuesday, September 2nd. Investors of record on Monday, August 18th will be given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 3.74%. The ex-dividend date of this dividend is Thursday, August 14th.
A number of research firms have recently commented on VVC. Analysts at KeyCorp downgraded shares of Vectren Corp from a “buy” rating to a “hold” rating in a research note on Wednesday, July 9th. Analysts at Brean Capital raised their price target on shares of Vectren Corp from $43.00 to $44.00 in a research note on Wednesday, July 2nd.
The stock’s 50-day moving average is $40.17 and its 200-day moving average is $38.99. The company has a market cap of $3.178 billion and a price-to-earnings ratio of 20.00.
Vectren Corp (NYSE:VVC) last posted its quarterly earnings results on Monday, August 4th. The company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by $0.01. The company had revenue of $542.50 million for the quarter, compared to the consensus estimate of $572.05 million. During the same quarter in the previous year, the company posted $0.33 earnings per share. The company’s revenue for the quarter was up 2.2% on a year-over-year basis. Analysts expect that Vectren Corp will post $2.28 EPS for the current fiscal year.
Vectren Corporation (NYSE:VVC), is an energy holding company.
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