Zacks: Brokerages Expect Vectren Corp (VVC) to Announce $0.79 Earnings Per Share

Wall Street brokerages predict that Vectren Corp (NYSE:VVC) will report earnings per share (EPS) of $0.79 for the current fiscal quarter, Zacks Investment Research reports. Zero analysts have provided estimates for Vectren’s earnings, with the lowest EPS estimate coming in at $0.77 and the highest estimate coming in at $0.80. Vectren posted earnings of $0.84 per share during the same quarter last year, which would suggest a negative year-over-year growth rate of 6%. The company is scheduled to report its next earnings report after the market closes on Tuesday, February 20th.

On average, analysts expect that Vectren will report full year earnings of $2.62 per share for the current fiscal year, with EPS estimates ranging from $2.60 to $2.65. For the next financial year, analysts anticipate that the business will post earnings of $2.83 per share, with EPS estimates ranging from $2.80 to $2.90. Zacks’ earnings per share calculations are a mean average based on a survey of research analysts that follow Vectren.

Vectren (NYSE:VVC) last issued its quarterly earnings data on Thursday, November 2nd. The utilities provider reported $0.75 EPS for the quarter, beating the Zacks’ consensus estimate of $0.67 by $0.08. The business had revenue of $691.20 million for the quarter, compared to analyst estimates of $615.00 million. Vectren had a return on equity of 12.51% and a net margin of 8.49%. The firm’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.74 EPS.

A number of analysts have weighed in on VVC shares. Zacks Investment Research upgraded Vectren from a “sell” rating to a “hold” rating in a report on Thursday, October 12th. Guggenheim downgraded Vectren from a “buy” rating to a “neutral” rating in a research note on Tuesday, January 2nd. ValuEngine downgraded Vectren from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Finally, Citigroup raised their target price on Vectren from $66.00 to $75.00 and gave the company a “buy” rating in a research note on Monday, November 20th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $70.00.

A number of hedge funds and other institutional investors have recently made changes to their positions in VVC. Meeder Asset Management Inc. raised its stake in shares of Vectren by 40.3% during the fourth quarter. Meeder Asset Management Inc. now owns 54,438 shares of the utilities provider’s stock valued at $3,539,000 after acquiring an additional 15,630 shares during the last quarter. SeaCrest Wealth Management LLC acquired a new stake in Vectren during the 4th quarter valued at approximately $163,000. Telemus Capital LLC acquired a new stake in Vectren during the 4th quarter valued at approximately $175,000. Comerica Bank lifted its stake in Vectren by 26.7% during the 4th quarter. Comerica Bank now owns 150,520 shares of the utilities provider’s stock valued at $9,182,000 after acquiring an additional 31,710 shares during the period. Finally, Victory Capital Management Inc. lifted its stake in Vectren by 12.7% during the 4th quarter. Victory Capital Management Inc. now owns 40,495 shares of the utilities provider’s stock valued at $2,633,000 after acquiring an additional 4,552 shares during the period. 64.08% of the stock is currently owned by institutional investors and hedge funds.

Shares of Vectren (VVC) traded up $0.01 during mid-day trading on Friday, hitting $60.27. The company had a trading volume of 295,800 shares, compared to its average volume of 415,997. The company has a current ratio of 0.70, a quick ratio of 0.55 and a debt-to-equity ratio of 0.90. The company has a market capitalization of $5,002.53, a PE ratio of 22.24, a P/E/G ratio of 3.56 and a beta of 0.69. Vectren has a fifty-two week low of $54.04 and a fifty-two week high of $69.86.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Thursday, February 15th will be given a $0.45 dividend. The ex-dividend date is Wednesday, February 14th. This represents a $1.80 annualized dividend and a yield of 2.99%. Vectren’s payout ratio is 66.42%.

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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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