Vectren Corporation (VVC) Upgraded to Hold by Zacks Investment Research
Vectren Corporation (NYSE:VVC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Tuesday.
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, BidaskClub raised Vectren Corporation from a “hold” rating to a “buy” rating in a report on Wednesday, June 21st. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $65.50.
Shares of Vectren Corporation (NYSE VVC) traded down 1.25% on Tuesday, hitting $67.26. The stock had a trading volume of 63,024 shares. Vectren Corporation has a 12-month low of $46.52 and a 12-month high of $68.08. The company’s 50-day moving average price is $62.72 and its 200 day moving average price is $59.96. The firm has a market cap of $5.58 billion, a P/E ratio of 24.92 and a beta of 0.81.
Vectren Corporation (NYSE:VVC) last announced its earnings results on Thursday, August 3rd. The utilities provider reported $0.45 EPS for the quarter, beating the 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 business had revenue of $630.70 million during the quarter, compared to the consensus estimate of $565.12 million. During the same period in the prior year, the business posted $0.39 earnings per share. Vectren Corporation’s revenue was up 18.2% compared to the same quarter last year. On average, equities research analysts forecast that Vectren Corporation will post $2.62 earnings per share for the current fiscal year.
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Hedge funds and other institutional investors have recently made changes to their positions in the company. Sei Investments Co. lifted its holdings in shares of Vectren Corporation by 20.0% during the first quarter. Sei Investments Co. now owns 1,973 shares of the utilities provider’s stock valued at $115,000 after purchasing an additional 329 shares during the last quarter. Manchester Capital Management LLC purchased a new stake in shares of Vectren Corporation during the first quarter valued at $115,000. Bronfman E.L. Rothschild L.P. lifted its holdings in shares of Vectren Corporation by 3.3% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 2,371 shares of the utilities provider’s stock valued at $139,000 after purchasing an additional 75 shares during the last quarter. Global X Management Co. LLC lifted its holdings in shares of Vectren Corporation by 220.7% during the second quarter. Global X Management Co. LLC now owns 2,630 shares of the utilities provider’s stock valued at $154,000 after purchasing an additional 1,810 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Vectren Corporation by 12.4% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,993 shares of the utilities provider’s stock valued at $175,000 after purchasing an additional 331 shares during the last quarter. 63.83% of the stock is owned by institutional investors and hedge funds.
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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