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 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. raised their price objective on shares of Vectren Corp. from $44.00 to $53.00 and gave the company a “neutral” rating in a research note on Wednesday, July 27th.
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Vectren Corp. (NYSE:VVC) opened at 48.82 on Wednesday. The firm has a market capitalization of $4.04 billion, a price-to-earnings ratio of 21.83 and a beta of 0.60. Vectren Corp. has a 1-year low of $39.43 and a 1-year high of $53.33. The stock’s 50 day moving average is $49.21 and its 200 day moving average is $50.15.
Vectren Corp. (NYSE:VVC) last issued its earnings results on Wednesday, August 3rd. The company reported $0.39 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.43 by $0.04. The company had revenue of $533.70 million for the quarter, compared to the consensus estimate 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 period in the prior year, the company earned $0.43 earnings per share. Analysts predict that Vectren Corp. will post $2.47 EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently modified their holdings of VVC. Duff & Phelps Investment Management Co. increased its position in shares of Vectren Corp. by 2.3% in the third quarter. Duff & Phelps Investment Management Co. now owns 1,591,040 shares of the company’s stock valued at $79,870,000 after buying an additional 36,225 shares during the last quarter. Hennessy Advisors Inc. increased its position in shares of Vectren Corp. by 10.3% in the third quarter. Hennessy Advisors Inc. now owns 357,228 shares of the company’s stock worth $17,933,000 after buying an additional 33,500 shares during the last quarter. Creative Planning increased its position in shares of Vectren Corp. by 30.6% in the third quarter. Creative Planning now owns 7,473 shares of the company’s stock worth $375,000 after buying an additional 1,750 shares during the last quarter. Lynch & Associates IN increased its position in shares of Vectren Corp. by 1.3% in the third quarter. Lynch & Associates IN now owns 75,016 shares of the company’s stock worth $3,766,000 after buying an additional 978 shares during the last quarter. Finally, Mason Street Advisors LLC bought a new position in shares of Vectren Corp. during the second quarter worth about $1,989,000. 62.83% of the stock is currently owned by institutional investors.
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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