Vectren Corporation (VVC) Downgraded to Sell at Zacks Investment Research
Vectren Corporation (NYSE:VVC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” 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) “
A number of other analysts also recently weighed in on VVC. Citigroup Inc. upped their target price on Vectren Corporation from $58.00 to $66.00 and gave the company a “buy” rating in a research report on Tuesday, May 9th. BidaskClub downgraded Vectren Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, June 15th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $65.50.
Vectren Corporation (NYSE:VVC) opened at 60.55 on Wednesday. The company has a market capitalization of $5.02 billion, a PE ratio of 22.43 and a beta of 0.81. Vectren Corporation has a one year low of $46.52 and a one year high of $62.79. The firm’s 50 day moving average price is $59.48 and its 200-day moving average price is $58.67.
Vectren Corporation (NYSE:VVC) last issued its quarterly earnings data on Thursday, August 3rd. The utilities provider reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.02. Vectren Corporation had a return on equity of 12.65% and a net margin of 8.66%. The firm had revenue of $630.70 million for the quarter, compared to analyst estimates of $565.12 million. During the same period in the prior year, the firm posted $0.39 EPS. The company’s revenue for the quarter was up 18.2% on a year-over-year basis. Equities analysts forecast that Vectren Corporation will post $2.62 earnings per share for the current fiscal year.
Several hedge funds have recently added to or reduced their stakes in VVC. FMR LLC bought a new stake in Vectren Corporation during the fourth quarter worth $306,000. Teachers Advisors LLC increased its stake in Vectren Corporation by 42.9% in the fourth quarter. Teachers Advisors LLC now owns 124,570 shares of the utilities provider’s stock worth $6,496,000 after buying an additional 37,425 shares during the last quarter. Louisiana State Employees Retirement System increased its stake in Vectren Corporation by 2.0% in the first quarter. Louisiana State Employees Retirement System now owns 20,900 shares of the utilities provider’s stock worth $1,225,000 after buying an additional 400 shares during the last quarter. Dalton Greiner Hartman Maher & Co. increased its stake in Vectren Corporation by 2.7% in the first quarter. Dalton Greiner Hartman Maher & Co. now owns 290,204 shares of the utilities provider’s stock worth $17,009,000 after buying an additional 7,725 shares during the last quarter. Finally, GW Henssler & Associates Ltd. bought a new stake in Vectren Corporation during the first quarter worth $202,000. Hedge funds and other institutional investors own 64.45% of the company’s stock.
About Vectren Corporation
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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