Vectren Corp. (VVC) Upgraded at Zacks Investment Research
Vectren Corp. (NYSE:VVC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Wednesday.
According to Zacks, “Vectren Corp., through its regulated subsidiaries Indiana Gas and SIGECO, offers gas and/or electricity to customers in adjoining service areas that cover nearly two-thirds of Indiana. Vectren’s non-regulated subsidiaries currently offer energy-related products and services, including energy marketing, fiber-optic based communication services, and utility related services including materials management, debt collections, locating, meter reading and trenching services to customers throughout the surrounding region. (PRESS RELEASE) “
Separately, Citigroup Inc. upped their target price on shares of Vectren Corp. from $44.00 to $53.00 and gave the stock a “neutral” rating in a report on Wednesday, July 27th.
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Shares of Vectren Corp. (NYSE:VVC) opened at 48.82 on Wednesday. The company’s 50-day moving average is $49.21 and its 200-day moving average is $50.15. Vectren Corp. has a one year low of $39.43 and a one year high of $53.33. The company has a market cap of $4.04 billion, a price-to-earnings ratio of 21.83 and a beta of 0.60.
Vectren Corp. (NYSE:VVC) last posted 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. Vectren Corp. had a return on equity of 10.99% and a net margin of 8.06%. The company had revenue of $533.70 million for the quarter, compared to analyst estimates of $585.40 million. During the same quarter in the prior year, the company posted $0.43 earnings per share. The business’s revenue was down 3.1% on a year-over-year basis. On average, equities analysts predict that Vectren Corp. will post $2.47 EPS for the current year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Barclays PLC increased 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 period. TD Asset Management Inc. acquired a new stake in Vectren Corp. during the second quarter valued at approximately $207,000. M&T Bank Corp acquired a new stake in Vectren Corp. during the first quarter valued at approximately $200,000. Oakbrook Investments LLC acquired a new stake in Vectren Corp. during the second quarter valued at approximately $233,000. Finally, OMERS ADMINISTRATION Corp acquired a new stake in Vectren Corp. during the second quarter valued at approximately $237,000. 62.83% of the stock is owned by institutional investors and hedge funds.
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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