BlueCrest Capital Management Ltd purchased a new position in shares of Vectren Corp (NYSE:VVC) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 19,594 shares of the utilities provider’s stock, valued at approximately $1,274,000.
Several other hedge funds also recently added to or reduced their stakes in VVC. BlackRock Inc. grew its position in shares of Vectren by 6.4% during the fourth quarter. BlackRock Inc. now owns 8,338,163 shares of the utilities provider’s stock worth $542,147,000 after buying an additional 503,213 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its position in shares of Vectren by 90.0% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,041,443 shares of the utilities provider’s stock worth $67,715,000 after buying an additional 493,212 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec acquired a new stake in shares of Vectren during the third quarter worth approximately $31,702,000. Wells Fargo & Company MN grew its position in shares of Vectren by 193.3% during the fourth quarter. Wells Fargo & Company MN now owns 370,336 shares of the utilities provider’s stock worth $24,078,000 after buying an additional 244,084 shares in the last quarter. Finally, APG Asset Management N.V. grew its position in shares of Vectren by 419.0% during the fourth quarter. APG Asset Management N.V. now owns 215,400 shares of the utilities provider’s stock worth $11,663,000 after buying an additional 173,900 shares in the last quarter. 63.98% of the stock is owned by institutional investors and hedge funds.
A number of research firms have recently weighed in on VVC. Bank of America reissued a “neutral” rating on shares of Vectren in a research report on Tuesday, February 27th. Guggenheim reissued a “hold” rating and set a $61.00 price target on shares of Vectren in a research report on Friday, February 23rd. Wells Fargo & Co set a $58.00 price target on shares of Vectren and gave the stock a “hold” rating in a research report on Tuesday, February 13th. ValuEngine downgraded shares of Vectren from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Finally, Citigroup raised their price target on shares of Vectren from $66.00 to $75.00 and gave the stock a “buy” rating in a research report on Monday, November 20th. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $64.75.
Vectren (NYSE:VVC) last released its quarterly earnings data on Tuesday, February 20th. The utilities provider reported $0.74 EPS for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.02). The business had revenue of $711.00 million during the quarter, compared to analyst estimates of $620.00 million. Vectren had a return on equity of 11.91% and a net margin of 8.13%. The business’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.84 EPS. equities analysts forecast that Vectren Corp will post 2.87 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 1st. Shareholders of record on Thursday, February 15th were issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 2.96%. The ex-dividend date of this dividend was Wednesday, February 14th. Vectren’s dividend payout ratio is presently 68.97%.
TRADEMARK VIOLATION NOTICE: This piece was reported by American Banking News and is the property of of American Banking News. If you are accessing this piece on another site, it was illegally stolen and reposted in violation of U.S. and international copyright law. The legal version of this piece can be read at https://www.americanbankingnews.com/2018/03/13/bluecrest-capital-management-ltd-invests-1-27-million-in-vectren-corp-vvc-stock.html.
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).
Receive News & Ratings for Vectren Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Vectren and related companies with MarketBeat.com's FREE daily email newsletter.