Vectren Corporation (VVC) Raised to “Hold” at Zacks Investment Research
Vectren Corporation (NYSE:VVC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Thursday.
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 research report on Wednesday, August 23rd. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Vectren Corporation currently has a consensus rating of “Buy” and an average target price of $65.50.
Vectren Corporation (VVC) opened at 66.71 on Thursday. The company’s 50-day moving average price is $66.22 and its 200 day moving average price is $61.46. The stock has a market capitalization of $5.54 billion, a P/E ratio of 24.72 and a beta of 0.81. Vectren Corporation has a 52-week low of $46.52 and a 52-week high of $68.30.
Vectren Corporation (NYSE:VVC) last issued its earnings results on Thursday, August 3rd. The utilities provider reported $0.45 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.43 by $0.02. The business had revenue of $630.70 million during the quarter, compared to analysts’ expectations of $565.12 million. Vectren Corporation had a return on equity of 12.65% and a net margin of 8.66%. Vectren Corporation’s revenue was up 18.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.39 earnings per share. On average, equities research analysts anticipate that Vectren Corporation will post $2.63 earnings per share for the current year.
In other Vectren Corporation news, Director Derrick Burks bought 1,000 shares of the firm’s stock in a transaction dated Thursday, September 28th. The stock was acquired at an average price of $65.60 per share, with a total value of $65,600.00. Following the completion of the transaction, the director now directly owns 1,000 shares in the company, valued at approximately $65,600. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.14% of the company’s stock.
Institutional investors have recently modified their holdings of the company. Arizona State Retirement System boosted its position in shares of Vectren Corporation by 1.4% in the second quarter. Arizona State Retirement System now owns 35,000 shares of the utilities provider’s stock worth $2,045,000 after buying an additional 500 shares during the period. Teacher Retirement System of Texas boosted its position in Vectren Corporation by 2.1% during the second quarter. Teacher Retirement System of Texas now owns 6,626 shares of the utilities provider’s stock valued at $387,000 after purchasing an additional 135 shares during the last quarter. Schroder Investment Management Group boosted its position in Vectren Corporation by 5.2% during the second quarter. Schroder Investment Management Group now owns 1,018,360 shares of the utilities provider’s stock valued at $59,757,000 after purchasing an additional 50,768 shares during the last quarter. Dalton Greiner Hartman Maher & Co. boosted its position in Vectren Corporation by 1.7% during the second quarter. Dalton Greiner Hartman Maher & Co. now owns 295,176 shares of the utilities provider’s stock valued at $17,250,000 after purchasing an additional 4,972 shares during the last quarter. Finally, TD Asset Management Inc. boosted its position in Vectren Corporation by 5.7% during the second quarter. TD Asset Management Inc. now owns 8,551 shares of the utilities provider’s stock valued at $500,000 after purchasing an additional 463 shares during the last quarter. 63.11% of the stock is owned by institutional investors and hedge funds.
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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