Zacks: Brokerages Set $61.50 Price Target for Vectren Corporation (VVC)
Shares of Vectren Corporation (NYSE:VVC) have been assigned a consensus broker rating score of 2.67 (Hold) from the six analysts that cover the stock, Zacks Investment Research reports. Five analysts have rated the stock with a hold recommendation and one has assigned a strong buy recommendation to the company. Vectren Corporation’s rating score has improved by 6.6% from 90 days ago as a result of various analysts’ ratings changes.
Brokers have set a one year consensus price target of $61.50 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 assigned Vectren Corporation an industry rank of 91 out of 265 based on the ratings given to related companies.
VVC has been the subject of a number of research reports. Zacks Investment Research raised Vectren Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, September 12th. BidaskClub raised Vectren Corporation from a “strong sell” rating to a “sell” rating in a report on Monday, July 24th.
Shares of Vectren Corporation (VVC) traded down 0.97% during midday trading on Monday, reaching $67.64. 151,144 shares of the company’s stock traded hands. The stock has a 50 day moving average of $66.65 and a 200-day moving average of $62.21. Vectren Corporation has a 52-week low of $46.52 and a 52-week high of $68.84. The stock has a market cap of $5.61 billion, a price-to-earnings ratio of 25.06 and a beta of 0.81.
Vectren Corporation (NYSE:VVC) last announced its quarterly earnings results on Thursday, August 3rd. The utilities provider reported $0.45 earnings per share (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 quarter last year, the firm posted $0.39 EPS. The company’s quarterly revenue was up 18.2% on a year-over-year basis. On average, equities research analysts expect that Vectren Corporation will post $2.63 EPS for the current year.
In other news, Director Derrick Burks bought 1,000 shares of the company’s stock in a transaction dated Thursday, September 28th. The stock was bought at an average price of $65.60 per share, with a total value of $65,600.00. Following the completion of the acquisition, the director now owns 1,000 shares of the company’s stock, valued at $65,600. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.14% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently bought and sold shares of the company. Arizona State Retirement System lifted its holdings in shares of Vectren Corporation by 1.4% during 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 in the last quarter. Teacher Retirement System of Texas lifted its holdings in shares of 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 worth $387,000 after buying an additional 135 shares in the last quarter. Schroder Investment Management Group lifted its holdings in shares of 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 worth $59,757,000 after buying an additional 50,768 shares in the last quarter. TD Asset Management Inc. lifted its holdings in shares of Vectren Corporation by 5.7% during the second quarter. TD Asset Management Inc. now owns 8,551 shares of the utilities provider’s stock worth $500,000 after buying an additional 463 shares in the last quarter. Finally, Eaton Vance Management lifted its holdings in shares of Vectren Corporation by 42.3% during the second quarter. Eaton Vance Management now owns 11,271 shares of the utilities provider’s stock worth $659,000 after buying an additional 3,351 shares in the last quarter. 62.92% of the stock is owned by institutional investors.
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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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