Highbridge Capital Management LLC Purchases Shares of 98,254 Vectren Corporation (VVC)
Highbridge Capital Management LLC purchased a new position in shares of Vectren Corporation (NYSE:VVC) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 98,254 shares of the utilities provider’s stock, valued at approximately $6,462,000. Highbridge Capital Management LLC owned about 0.12% of Vectren at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also bought and sold shares of VVC. Bronfman E.L. Rothschild L.P. increased its stake in Vectren by 3.3% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 2,371 shares of the utilities provider’s stock valued at $139,000 after purchasing an additional 75 shares in the last quarter. Global X Management Co. LLC increased its stake in Vectren by 220.7% in the second quarter. Global X Management Co. LLC now owns 2,630 shares of the utilities provider’s stock valued at $154,000 after purchasing an additional 1,810 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Vectren by 12.4% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,993 shares of the utilities provider’s stock valued at $175,000 after buying an additional 331 shares during the period. Boothbay Fund Management LLC acquired a new position in shares of Vectren in the third quarter valued at approximately $203,000. Finally, Bbva Compass Bancshares Inc. acquired a new position in shares of Vectren in the third quarter valued at approximately $206,000. 63.99% of the stock is owned by institutional investors and hedge funds.
Several research firms have recently weighed in on VVC. Zacks Investment Research upgraded shares of Vectren from a “sell” rating to a “hold” rating in a report on Thursday, October 12th. BidaskClub upgraded shares of Vectren from a “hold” rating to a “buy” rating in a report on Wednesday, August 23rd. ValuEngine cut shares of Vectren from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Finally, Citigroup increased their target price on shares of Vectren from $66.00 to $75.00 and gave the stock a “buy” rating in a report on Monday, November 20th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $70.00.
In other news, Director Derrick Burks purchased 1,000 shares of the business’s stock in a transaction on Thursday, September 28th. The stock was purchased at an average price of $65.60 per share, for a total transaction of $65,600.00. Following the completion of the purchase, the director now directly owns 1,000 shares in the company, valued at approximately $65,600. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.14% of the company’s stock.
Shares of Vectren Corporation (NYSE VVC) traded up $0.29 during mid-day trading on Tuesday, reaching $69.38. 214,700 shares of the company’s stock were exchanged, compared to its average volume of 380,674. The firm has a market capitalization of $5,720.00, a PE ratio of 25.49, a P/E/G ratio of 4.65 and a beta of 0.83. 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 Corporation has a 12-month low of $50.88 and a 12-month high of $69.86.
Vectren (NYSE:VVC) last announced its quarterly earnings results on Thursday, November 2nd. The utilities provider reported $0.75 EPS for the quarter, beating analysts’ consensus estimates 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%. The company’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.74 earnings per share. research analysts expect that Vectren Corporation will post 2.62 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, December 1st. Shareholders of record on Wednesday, November 15th were paid a $0.45 dividend. The ex-dividend date was Tuesday, November 14th. This represents a $1.80 dividend on an annualized basis and a yield of 2.59%. This is a boost from Vectren’s previous quarterly dividend of $0.42. Vectren’s dividend payout ratio (DPR) is currently 66.42%.
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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