Brokerages Set $49.50 Price Target for Vectren Corp. (VVC)
Shares of Vectren Corp. (NYSE:VVC) have earned a consensus broker rating score of 3.17 (Hold) from the six analysts that cover the stock, Zacks Investment Research reports. One analyst has rated the stock with a sell rating and five have issued a hold rating on the company.
Brokerages have set a 12-month consensus price target of $49.50 for the company and are forecasting that the company will post $0.64 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Vectren Corp. an industry rank of 111 out of 265 based on the ratings given to its competitors.
A number of analysts have recently weighed in on VVC shares. Zacks Investment Research upgraded shares of Vectren Corp. from a “sell” rating to a “hold” rating in a research note on Thursday, June 16th. Citigroup Inc. increased their price objective on shares of Vectren Corp. from $44.00 to $53.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 27th.
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Vectren Corp. (NYSE:VVC) traded up 0.8587% on Wednesday, reaching $47.5448. The company had a trading volume of 56,411 shares. The stock has a market capitalization of $3.94 billion, a PE ratio of 21.2633 and a beta of 0.60. Vectren Corp. has a 12-month low of $39.43 and a 12-month high of $53.33. The stock’s 50 day moving average price is $49.42 and its 200-day moving average price is $50.23.
Vectren Corp. (NYSE:VVC) last released its quarterly earnings data on Wednesday, August 3rd. The company reported $0.39 earnings per share for the quarter, missing the Zacks’ 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 return on equity of 10.99% and a net margin of 8.06%. The firm’s revenue was down 3.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.43 EPS. Equities analysts expect that Vectren Corp. will post $2.47 earnings per share for the current fiscal year.
Hedge funds have recently added to or reduced their stakes in the stock. Barclays PLC raised its stake 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 in the last quarter. TD Asset Management Inc. purchased a new stake in Vectren Corp. during the second quarter valued at approximately $207,000. M&T Bank Corp purchased a new stake in Vectren Corp. during the first quarter valued at approximately $200,000. Oakbrook Investments LLC purchased a new stake in Vectren Corp. during the second quarter valued at approximately $233,000. Finally, OMERS ADMINISTRATION Corp purchased a new stake in Vectren Corp. during the second quarter valued at approximately $237,000. Institutional investors own 62.90% 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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