Vectren Corporation (VVC) Releases Earnings Results, Beats Estimates By $0.08 EPS
Vectren Corporation (NYSE:VVC) posted its quarterly earnings data on Thursday. The utilities provider reported $0.75 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.67 by $0.08, Briefing.com reports. The business had revenue of $691.20 million during the quarter, compared to the consensus estimate of $615.00 million. Vectren Corporation had a return on equity of 12.65% and a net margin of 8.66%. Vectren Corporation’s quarterly revenue was up 9.5% on a year-over-year basis. During the same period last year, the company earned $0.74 earnings per share. Vectren Corporation updated its FY17 guidance to $2.55-2.65 EPS.
Vectren Corporation (VVC) opened at $67.01 on Friday. The stock has a market cap of $5,620.99, a P/E ratio of 25.09, a P/E/G ratio of 4.56 and a beta of 0.84. The company has a quick ratio of 0.55, a current ratio of 0.70 and a debt-to-equity ratio of 0.89.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Wednesday, November 15th will be given a dividend of $0.45 per share. The ex-dividend date is Tuesday, November 14th. This is a boost from Vectren Corporation’s previous quarterly dividend of $0.42. This represents a $1.80 annualized dividend and a yield of 2.69%. Vectren Corporation’s dividend payout ratio is 62.22%.
In related news, Director Derrick Burks purchased 1,000 shares of the stock in a transaction on Thursday, September 28th. The shares were purchased at an average cost of $65.60 per share, for a total transaction of $65,600.00. Following the completion of the transaction, the director now directly owns 1,000 shares of the company’s stock, valued at approximately $65,600. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.14% of the company’s stock.
VVC has been the subject of a number of research reports. Zacks Investment Research upgraded Vectren Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, September 12th. BidaskClub upgraded Vectren Corporation from a “hold” rating to a “buy” rating in a report on Wednesday, August 23rd. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $65.50.
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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