Vectren Corporation (VVC) Updates FY17 Earnings Guidance
Vectren Corporation (NYSE:VVC) updated its FY17 earnings guidance on Thursday. The company provided earnings per share guidance of $2.55-2.65 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $2.63.
A number of brokerages recently issued reports on VVC. Zacks Investment Research downgraded Vectren Corporation from a buy rating to a hold rating in a report on Wednesday, August 9th. BidaskClub downgraded Vectren Corporation from a sell rating to a strong sell rating in a report on Wednesday, July 12th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus target price of $65.50.
Vectren Corporation (NYSE:VVC) last posted its quarterly earnings data on Thursday, August 3rd. The utilities provider reported $0.45 earnings per share (EPS) for the quarter, topping 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 company had revenue of $630.70 million for the quarter, compared to the consensus estimate of $565.12 million. During the same period in the previous year, the business earned $0.39 EPS. Vectren Corporation’s revenue for the quarter was up 18.2% compared to the same quarter last year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Wednesday, November 15th will be issued a dividend of $0.45 per share. This is an increase from Vectren Corporation’s previous quarterly dividend of $0.42. This represents a $1.80 annualized dividend and a yield of 2.64%. Vectren Corporation’s payout ratio is currently 62.22%.
In other Vectren Corporation news, Director Derrick Burks acquired 1,000 shares of the company’s stock in a transaction on Thursday, September 28th. The shares were bought at an average cost of $65.60 per share, for a total transaction of $65,600.00. Following the acquisition, the director now directly owns 1,000 shares of the company’s stock, valued at $65,600. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.14% of the stock is owned by insiders.
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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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