Vectren Corp. (VVC) Shares Gap Up to $50.06
Shares of Vectren Corp. (NYSE:VVC) gapped up prior to trading on Tuesday . The stock had previously closed at $50.00, but opened at $50.06. Vectren Corp. shares last traded at $50.44, with a volume of 77,964 shares.
A number of analysts have issued reports on VVC shares. Zacks Investment Research raised Vectren Corp. from a “sell” rating to a “hold” rating in a research note on Tuesday, September 13th. Citigroup Inc. raised their target price on Vectren Corp. from $44.00 to $53.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 27th.
The stock has a 50 day moving average price of $49.87 and a 200 day moving average price of $50.19. The company has a market capitalization of $4.16 billion, a price-to-earnings ratio of 22.44 and a beta of 0.57.
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Vectren Corp. (NYSE:VVC) last released its earnings results on Wednesday, August 3rd. The company reported $0.39 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.43 by $0.04. The business earned $533.70 million during the quarter, compared to analyst estimates of $585.40 million. Vectren Corp. had a net margin of 8.06% and a return on equity of 10.99%. The business’s revenue for the quarter was down 3.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.43 earnings per share. On average, analysts anticipate that Vectren Corp. will post $2.47 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 1st. Investors of record on Monday, August 15th were paid a $0.40 dividend. The ex-dividend date was Thursday, August 11th. This represents a $1.60 annualized dividend and a yield of 3.19%. Vectren Corp.’s payout ratio is currently 71.43%.
Institutional investors have recently added to or reduced their stakes in the stock. Barclays PLC raised its position in Vectren Corp. by 46.0% in the second quarter. Barclays PLC now owns 2,156 shares of the company’s stock valued at $114,000 after buying an additional 679 shares during the last quarter. Manchester Capital Management LLC purchased a new stake in shares of Vectren Corp. during the first quarter valued at approximately $115,000. Ladenburg Thalmann Financial Services Inc. raised its stake in shares of Vectren Corp. by 11.3% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,868 shares of the company’s stock valued at $195,000 after buying an additional 393 shares in the last quarter. M&T Bank Corp purchased a new stake in shares of Vectren Corp. during the first quarter valued at approximately $200,000. Finally, TD Asset Management Inc. purchased a new stake in shares of Vectren Corp. during the second quarter valued at approximately $207,000. Hedge funds and other institutional investors own 63.26% of the company’s stock.
Vectren Corp. 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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