Vectren (NYSE:VVC) was downgraded by ValuEngine from a “buy” rating to a “hold” rating in a research report issued on Friday.

Several other research firms have also recently commented on VVC. Zacks Investment Research cut shares of Vectren from a “hold” rating to a “sell” rating in a research note on Wednesday, August 16th. Citigroup raised their target price on shares of Vectren from $66.00 to $75.00 and gave the stock a “buy” rating in a research note on Monday, November 20th. Finally, BidaskClub upgraded shares of Vectren from a “sell” rating to a “hold” rating in a research note on Friday, August 4th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $70.00.

Shares of Vectren (NYSE:VVC) traded down $0.58 during trading hours on Friday, reaching $68.92. 190,697 shares of the company were exchanged, compared to its average volume of 384,222. The firm has a market cap of $5,720.00, a PE ratio of 25.28, a P/E/G 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. Vectren has a 12-month low of $48.94 and a 12-month high of $69.86.

Vectren (NYSE:VVC) last issued its quarterly earnings results on Thursday, November 2nd. The utilities provider reported $0.75 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.67 by $0.08. The firm had revenue of $691.20 million during the quarter, compared to analysts’ expectations of $615.00 million. Vectren had a net margin of 8.49% and a return on equity of 12.51%. Vectren’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.74 EPS. analysts anticipate that Vectren will post 2.62 earnings per share for the current fiscal year.

In other news, Director Derrick Burks bought 1,000 shares of Vectren stock in a transaction dated Thursday, September 28th. The stock was bought at an average price of $65.60 per share, for a total transaction of $65,600.00. Following the purchase, the director now owns 1,000 shares of the company’s stock, valued at $65,600. The purchase 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.

Hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. increased its holdings in shares of Vectren by 4,556.1% in the 1st quarter. BlackRock Inc. now owns 7,579,951 shares of the utilities provider’s stock valued at $444,258,000 after purchasing an additional 7,417,154 shares in the last quarter. Vaughan Nelson Investment Management L.P. purchased a new position in shares of Vectren in the 4th quarter valued at about $86,708,000. The Manufacturers Life Insurance Company purchased a new position in shares of Vectren in the 3rd quarter valued at about $54,647,000. UBS Group AG increased its holdings in shares of Vectren by 1,688.8% in the 3rd quarter. UBS Group AG now owns 992,862 shares of the utilities provider’s stock valued at $49,841,000 after purchasing an additional 937,358 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Vectren in the 4th quarter valued at about $33,584,000. Institutional investors own 64.02% of the company’s stock.

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About Vectren

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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