Vectren Corp. (VVC) Rating Increased to Hold at Zacks Investment Research
According to Zacks, “Vectren Corp., through its regulated subsidiaries Indiana Gas and SIGECO, offers gas and/or electricity to customers in adjoining service areas that cover nearly two-thirds of Indiana. Vectren’s non-regulated subsidiaries currently offer energy-related products and services, including energy marketing, fiber-optic based communication services, and utility related services including materials management, debt collections, locating, meter reading and trenching services to customers throughout the surrounding region. (PRESS RELEASE) “
Several other analysts have also commented on the stock. Citigroup Inc. raised their price objective on shares of Vectren Corp. from $44.00 to $53.00 and gave the stock a neutral rating in a report on Wednesday, July 27th. US Capital Advisors lowered shares of Vectren Corp. from an overweight rating to a hold rating in a report on Thursday, May 19th.
Vectren Corp. (NYSE:VVC) opened at 49.19 on Tuesday. The stock has a 50 day moving average price of $50.20 and a 200 day moving average price of $50.07. The company has a market capitalization of $4.07 billion, a price-to-earnings ratio of 22.00 and a beta of 0.57. Vectren Corp. has a 12-month low of $39.02 and a 12-month high of $53.33.
Vectren Corp. (NYSE:VVC) last issued its quarterly earnings data on Wednesday, August 3rd. The company reported $0.39 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.43 by $0.04. Vectren Corp. had a return on equity of 10.99% and a net margin of 8.06%. The company earned $533.70 million during the quarter, compared to analysts’ expectations of $585.40 million. During the same quarter last year, the business earned $0.43 earnings per share. The business’s quarterly revenue was down 3.1% on a year-over-year basis. On average, analysts expect that Vectren Corp. will post $2.47 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 1st. Stockholders of record on Monday, August 15th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Thursday, August 11th. This represents a $1.60 annualized dividend and a dividend yield of 3.25%. Vectren Corp.’s payout ratio is 71.43%.
Institutional investors have recently added to or reduced their stakes in the stock. Mason Street Advisors LLC acquired a new position in Vectren Corp. during the second quarter valued at about $1,989,000. Public Employees Retirement System of Ohio raised its position in Vectren Corp. by 0.6% in the second quarter. Public Employees Retirement System of Ohio now owns 31,980 shares of the company’s stock valued at $1,684,000 after buying an additional 192 shares during the last quarter. Schwab Charles Investment Management Inc. raised its position in Vectren Corp. by 4.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 294,751 shares of the company’s stock valued at $15,525,000 after buying an additional 12,374 shares during the last quarter. Stifel Financial Corp raised its position in Vectren Corp. by 4.3% in the second quarter. Stifel Financial Corp now owns 51,987 shares of the company’s stock valued at $2,739,000 after buying an additional 2,134 shares during the last quarter. Finally, Arvest Bank Trust Division acquired a new position in Vectren Corp. during the second quarter valued at about $297,000. Hedge funds and other institutional investors own 63.26% of the company’s stock.
Vectren Corp. Company Profile
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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