Wells Fargo & Co Analysts Give Vectren (VVC) a $58.00 Price Target

Vectren (NYSE:VVC) received a $58.00 price objective from investment analysts at Wells Fargo & Co in a research report issued to clients and investors on Tuesday. The brokerage currently has a “hold” rating on the utilities provider’s stock. Wells Fargo & Co’s price target would suggest a potential downside of 7.29% from the company’s current price.

VVC has been the topic of several other reports. Citigroup raised their price target on Vectren from $66.00 to $75.00 and gave the stock a “buy” rating in a research report on Monday, November 20th. ValuEngine lowered Vectren from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Finally, Guggenheim lowered Vectren from a “buy” rating to a “neutral” rating in a research report on Tuesday, January 2nd. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Vectren has an average rating of “Hold” and a consensus target price of $66.00.

Vectren (VVC) traded up $0.81 on Tuesday, reaching $62.56. The company had a trading volume of 193,665 shares, compared to its average volume of 528,421. The company has a current ratio of 0.70, a quick ratio of 0.55 and a debt-to-equity ratio of 0.90. Vectren has a fifty-two week low of $54.08 and a fifty-two week high of $69.86. The company has a market cap of $5,195.95, a price-to-earnings ratio of 23.10, a price-to-earnings-growth ratio of 3.65 and a beta of 0.69.

Hedge funds have recently modified their holdings of the company. Aurora Investment Counsel bought a new stake in shares of Vectren in the 4th quarter worth approximately $1,136,000. Davidson Kempner Capital Management LP bought a new stake in shares of Vectren in the 3rd quarter worth approximately $6,807,000. Janus Henderson Group PLC grew its position in shares of Vectren by 4.2% in the 3rd quarter. Janus Henderson Group PLC now owns 160,410 shares of the utilities provider’s stock worth $10,550,000 after buying an additional 6,400 shares during the last quarter. Great West Life Assurance Co. Can grew its position in shares of Vectren by 3.4% in the 3rd quarter. Great West Life Assurance Co. Can now owns 50,954 shares of the utilities provider’s stock worth $3,360,000 after buying an additional 1,672 shares during the last quarter. Finally, Dalton Greiner Hartman Maher & Co. grew its position in shares of Vectren by 3.4% in the 4th quarter. Dalton Greiner Hartman Maher & Co. now owns 307,877 shares of the utilities provider’s stock worth $20,018,000 after buying an additional 10,015 shares during the last quarter. Hedge funds and other institutional investors own 63.84% 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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