Vectren Corporation (VVC) Receives Consensus Recommendation of “Hold” from Brokerages
Vectren Corporation (NYSE:VVC) has received a consensus broker rating score of 2.86 (Hold) from the seven analysts that provide coverage for the company, Zacks Investment Research reports. One equities research analyst has rated the stock with a sell recommendation, five have given a hold recommendation and one has given a strong buy recommendation to the company.
Brokers have set a 1 year consensus price target of $58.33 for the company and are expecting that the company will post $0.67 earnings per share for the current quarter, according to Zacks. Zacks has also given Vectren Corporation an industry rank of 60 out of 265 based on the ratings given to related companies.
Several research analysts recently issued reports on the company. Zacks Investment Research lowered Vectren Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday. BidaskClub raised Vectren Corporation from a “sell” rating to a “hold” rating in a research report on Friday, August 4th. Finally, 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.
Hedge funds have recently bought and sold shares of the stock. BlackRock Inc. increased its stake in Vectren Corporation by 4,556.1% in the first quarter. BlackRock Inc. now owns 7,579,951 shares of the utilities provider’s stock valued at $444,258,000 after buying an additional 7,417,154 shares during the last quarter. Vanguard Group Inc. increased its stake in Vectren Corporation by 2.5% in the second quarter. Vanguard Group Inc. now owns 7,553,087 shares of the utilities provider’s stock valued at $441,403,000 after buying an additional 182,550 shares during the last quarter. State Street Corp increased its stake in Vectren Corporation by 14.6% in the second quarter. State Street Corp now owns 5,808,728 shares of the utilities provider’s stock valued at $339,461,000 after buying an additional 740,825 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Vectren Corporation by 0.4% in the second quarter. Bank of New York Mellon Corp now owns 1,553,855 shares of the utilities provider’s stock valued at $90,808,000 after buying an additional 5,569 shares during the last quarter. Finally, Principal Financial Group Inc. increased its stake in Vectren Corporation by 86.4% in the second quarter. Principal Financial Group Inc. now owns 1,320,557 shares of the utilities provider’s stock valued at $77,173,000 after buying an additional 612,201 shares during the last quarter. Institutional investors and hedge funds own 64.45% of the company’s stock.
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Shares of Vectren Corporation (VVC) opened at 60.91 on Friday. The stock has a market capitalization of $5.05 billion, a PE ratio of 22.57 and a beta of 0.81. The company’s 50 day moving average price is $59.63 and its 200 day moving average price is $58.75. Vectren Corporation has a 52-week low of $46.52 and a 52-week high of $62.79.
Vectren Corporation (NYSE:VVC) last announced its earnings results on Thursday, August 3rd. The utilities provider reported $0.45 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.02. Vectren Corporation had a return on equity of 12.65% and a net margin of 8.66%. The company 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 company posted $0.39 EPS. The firm’s quarterly revenue was up 18.2% compared to the same quarter last year. On average, equities research analysts anticipate 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. Shareholders of record on Tuesday, August 15th will be paid a dividend of $0.42 per share. The ex-dividend date is Friday, August 11th. This represents a $1.68 annualized dividend and a yield of 2.76%. Vectren Corporation’s payout ratio is presently 62.22%.
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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