Vectren Corporation (VVC) Short Interest Down 41.3% in July
Vectren Corporation (NYSE:VVC) saw a large decrease in short interest during the month of July. As of July 31st, there was short interest totalling 363,789 shares, a decrease of 41.3% from the July 14th total of 619,314 shares. Based on an average daily trading volume, of 258,739 shares, the short-interest ratio is currently 1.4 days. Currently, 0.4% of the company’s stock are short sold.
A number of research firms have recently commented on VVC. Zacks Investment Research downgraded shares of Vectren Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday. BidaskClub upgraded shares of Vectren Corporation from a “sell” rating to a “hold” rating in a research note on Friday, August 4th. Finally, Citigroup Inc. increased their price objective on shares of Vectren Corporation from $58.00 to $66.00 and gave the stock a “buy” rating in a research note on Tuesday, May 9th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $65.50.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. FMR LLC purchased a new position in Vectren Corporation during the fourth quarter valued at $306,000. Teachers Advisors LLC boosted its position in Vectren Corporation by 42.9% in the fourth quarter. Teachers Advisors LLC now owns 124,570 shares of the utilities provider’s stock valued at $6,496,000 after buying an additional 37,425 shares during the period. Louisiana State Employees Retirement System boosted its position 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 valued at $1,225,000 after buying an additional 400 shares during the period. Dalton Greiner Hartman Maher & Co. boosted its position 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 valued at $17,009,000 after buying an additional 7,725 shares during the period. Finally, GW Henssler & Associates Ltd. purchased a new position in Vectren Corporation during the first quarter valued at $202,000. Institutional investors and hedge funds own 64.45% of the company’s stock.
Vectren Corporation (NYSE VVC) opened at 61.05 on Thursday. Vectren Corporation has a 1-year low of $46.52 and a 1-year high of $62.79. The stock’s 50 day moving average is $59.53 and its 200-day moving average is $58.69. The firm has a market capitalization of $5.07 billion, a P/E ratio of 22.62 and a beta of 0.81.
Vectren Corporation (NYSE:VVC) last released its quarterly earnings results on Thursday, August 3rd. The utilities provider reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.02. Vectren Corporation had a net margin of 8.66% and a return on equity of 12.65%. The business had revenue of $630.70 million for the quarter, compared to analysts’ expectations of $565.12 million. During the same period in the previous year, the company earned $0.39 earnings per share. The firm’s revenue for the quarter was up 18.2% compared to the same quarter last year. Analysts forecast that Vectren Corporation will post $2.62 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Tuesday, August 15th will be issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 2.75%. The ex-dividend date is Friday, August 11th. Vectren Corporation’s dividend payout ratio (DPR) is presently 62.22%.
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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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