Vectren Corp (VVC) Given Consensus Recommendation of “Hold” by Brokerages
Vectren Corp (NYSE:VVC) has received an average broker rating score of 2.67 (Hold) from the six analysts that cover the stock, Zacks Investment Research reports. Five investment analysts have rated the stock with a hold recommendation and one has issued a strong buy recommendation on the company. Vectren Corp’s rating score has improved by 6.6% from three months ago as a result of various analysts’ ratings changes.
Brokers have set a 1 year consensus price objective of $61.50 for the company and are forecasting that the company will post $0.68 EPS for the current quarter, according to Zacks. Zacks has also assigned Vectren Corp an industry rank of 81 out of 265 based on the ratings given to its competitors.
VVC has been the subject of several recent research reports. Zacks Investment Research raised shares of Vectren Corp from a “sell” rating to a “hold” rating in a research report on Tuesday, September 12th. BidaskClub raised shares of Vectren Corp from a “hold” rating to a “buy” rating in a research report on Wednesday, August 23rd.
Shares of Vectren Corp (NYSE VVC) traded down 0.43% during mid-day trading on Friday, hitting $67.81. The company had a trading volume of 530,816 shares. Vectren Corp has a 52-week low of $46.52 and a 52-week high of $68.84. The firm has a 50-day moving average price of $66.45 and a 200 day moving average price of $61.89. The firm has a market capitalization of $5.63 billion, a price-to-earnings ratio of 25.12 and a beta of 0.81.
Vectren Corp (NYSE:VVC) last issued its quarterly earnings results on Thursday, August 3rd. The utilities provider reported $0.45 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.02. Vectren Corp had a net margin of 5.96% and a return on equity of 8.41%. The company had revenue of $630.70 million during the quarter, compared to analysts’ expectations of $565.12 million. During the same quarter last year, the company posted $0.39 EPS. The firm’s revenue was up 18.2% compared to the same quarter last year. Analysts expect that Vectren Corp will post $2.63 earnings per share for the current year.
In other news, Director Derrick Burks acquired 1,000 shares of the firm’s stock in a transaction dated Thursday, September 28th. The stock was acquired at an average cost of $65.60 per share, with a total value of $65,600.00. Following the transaction, the director now owns 1,000 shares in the company, valued at $65,600. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.14% of the stock is currently owned by insiders.
Institutional investors have recently added to or reduced their stakes in the company. Arizona State Retirement System lifted its position in shares of Vectren Corp by 1.4% during the 2nd quarter. Arizona State Retirement System now owns 35,000 shares of the utilities provider’s stock worth $2,045,000 after purchasing an additional 500 shares during the last quarter. Teacher Retirement System of Texas lifted its position in shares of Vectren Corp by 2.1% during the 2nd quarter. Teacher Retirement System of Texas now owns 6,626 shares of the utilities provider’s stock worth $387,000 after purchasing an additional 135 shares during the last quarter. Schroder Investment Management Group lifted its position in shares of Vectren Corp by 5.2% during the 2nd quarter. Schroder Investment Management Group now owns 1,018,360 shares of the utilities provider’s stock worth $59,757,000 after purchasing an additional 50,768 shares during the last quarter. TD Asset Management Inc. lifted its position in shares of Vectren Corp by 5.7% during the 2nd quarter. TD Asset Management Inc. now owns 8,551 shares of the utilities provider’s stock worth $500,000 after purchasing an additional 463 shares during the last quarter. Finally, Dalton Greiner Hartman Maher & Co. lifted its position in shares of Vectren Corp by 1.7% during the 2nd quarter. Dalton Greiner Hartman Maher & Co. now owns 295,176 shares of the utilities provider’s stock worth $17,250,000 after purchasing an additional 4,972 shares during the last quarter. 63.11% of the stock is owned by institutional investors and hedge funds.
About Vectren Corp
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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