Vectren Corporation (NYSE:VVC) has been given a consensus recommendation of “Buy” by the six ratings firms that are currently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $75.00.
A number of research firms have recently issued reports on VVC. ValuEngine cut Vectren from a “buy” rating to a “hold” rating in a research report on Friday. Zacks Investment Research cut Vectren from a “buy” rating to a “hold” rating in a research report on Wednesday, August 9th. BidaskClub raised Vectren from a “sell” rating to a “hold” rating in a research report on Friday, August 4th. Finally, Citigroup raised their price objective on Vectren from $66.00 to $75.00 and gave the company a “buy” rating in a research report on Monday, November 20th.
Vectren (NYSE VVC) traded down $0.58 on Friday, hitting $68.92. The stock had a trading volume of 190,697 shares, compared to its average volume of 384,222. Vectren has a 52 week low of $48.94 and a 52 week high of $69.86. The firm has a market capitalization of $5,720.00, a PE ratio of 25.28, a price-to-earnings-growth ratio of 4.61 and a beta of 0.84. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.55 and a current ratio of 0.70.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Wednesday, November 15th will be issued a dividend of $0.45 per share. This is a boost from Vectren’s previous quarterly dividend of $0.42. This represents a $1.80 annualized dividend and a yield of 2.61%. The ex-dividend date is Tuesday, November 14th. Vectren’s dividend payout ratio (DPR) is presently 66.42%.
In other news, Director Derrick Burks purchased 1,000 shares of the company’s stock in a transaction that occurred on 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 acquisition, the director now owns 1,000 shares in the company, valued at approximately $65,600. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.14% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the stock. Steward Partners Investment Advisory LLC acquired a new stake in Vectren during the 3rd quarter worth approximately $214,000. Archford Capital Strategies LLC lifted its holdings in Vectren by 22.3% during the 3rd quarter. Archford Capital Strategies LLC now owns 14,310 shares of the utilities provider’s stock worth $941,000 after purchasing an additional 2,610 shares during the last quarter. Cetera Advisor Networks LLC acquired a new stake in Vectren during the 3rd quarter worth approximately $212,000. Independent Advisor Alliance lifted its holdings in Vectren by 14.8% during the 3rd quarter. Independent Advisor Alliance now owns 10,580 shares of the utilities provider’s stock worth $697,000 after purchasing an additional 1,363 shares during the last quarter. Finally, California Public Employees Retirement System lifted its holdings in Vectren by 8.0% during the 3rd quarter. California Public Employees Retirement System now owns 230,116 shares of the utilities provider’s stock worth $15,135,000 after purchasing an additional 17,016 shares during the last quarter. 64.02% of the stock is owned by institutional investors and hedge funds.
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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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