Vectren Corporation (NYSE:VVC) Upgraded to Sell by BidaskClub
Vectren Corporation (NYSE:VVC) was upgraded by analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a research report issued to clients and investors on Monday.
Several other equities analysts have also recently commented on VVC. Zacks Investment Research raised shares of Vectren Corporation from a “hold” rating to a “buy” rating and set a $65.00 target price on the stock in a research note on Thursday, July 13th. Citigroup Inc. raised their target price on shares of Vectren Corporation from $58.00 to $66.00 and gave the company a “buy” rating in a research note on Tuesday, May 9th. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $65.50.
Shares of Vectren Corporation (NYSE:VVC) traded down 1.21% during midday trading on Monday, reaching $59.45. 193,439 shares of the company traded hands. Vectren Corporation has a 12 month low of $46.52 and a 12 month high of $62.79. The firm has a market capitalization of $4.93 billion, a P/E ratio of 22.52 and a beta of 0.81. The company has a 50 day moving average of $59.78 and a 200 day moving average of $57.95.
Vectren Corporation (NYSE:VVC) last released its quarterly earnings data on Monday, May 8th. The utilities provider reported $0.67 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.65 by $0.02. The business had revenue of $624.50 million for the quarter, compared to analysts’ expectations of $595.84 million. Vectren Corporation had a net margin of 8.79% and a return on equity of 12.51%. The company’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.58 EPS. On average, equities research analysts predict that Vectren Corporation will post $2.62 earnings per share for the current fiscal year.
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Institutional investors have recently added to or reduced their stakes in the stock. Sei Investments Co. boosted its position in Vectren Corporation by 20.0% in the first quarter. Sei Investments Co. now owns 1,973 shares of the utilities provider’s stock valued at $115,000 after buying an additional 329 shares during the last quarter. Birch Hill Investment Advisors LLC bought a new position in Vectren Corporation during the first quarter valued at approximately $200,000. Stratos Wealth Partners LTD. bought a new position in Vectren Corporation during the first quarter valued at approximately $201,000. GW Henssler & Associates Ltd. bought a new position in Vectren Corporation during the first quarter valued at approximately $202,000. Finally, Oakbrook Investments LLC boosted its position in Vectren Corporation by 2.0% in the second quarter. Oakbrook Investments LLC now owns 3,540 shares of the utilities provider’s stock valued at $207,000 after buying an additional 70 shares during the last quarter. 64.65% of the stock is currently owned by hedge funds and other institutional investors.
Vectren Corporation 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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