Vectren Corporation (VVC) Holdings Increased by Ameriprise Financial Inc.
Ameriprise Financial Inc. boosted its position in Vectren Corporation (NYSE:VVC) by 3.1% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 298,124 shares of the utilities provider’s stock after acquiring an additional 8,868 shares during the period. Ameriprise Financial Inc. owned about 0.36% of Vectren worth $19,608,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in the business. Fort Washington Investment Advisors Inc. OH grew its stake in Vectren by 0.3% in the 2nd quarter. Fort Washington Investment Advisors Inc. OH now owns 5,315 shares of the utilities provider’s stock worth $311,000 after acquiring an additional 15 shares during the period. Bronfman E.L. Rothschild L.P. grew its stake in Vectren by 3.3% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 2,371 shares of the utilities provider’s stock worth $139,000 after acquiring an additional 75 shares during the period. M&T Bank Corp grew its stake in Vectren by 1.4% in the 2nd quarter. M&T Bank Corp now owns 5,747 shares of the utilities provider’s stock worth $337,000 after acquiring an additional 78 shares during the period. Suntrust Banks Inc. grew its stake in Vectren by 0.6% in the 2nd quarter. Suntrust Banks Inc. now owns 16,418 shares of the utilities provider’s stock worth $959,000 after acquiring an additional 90 shares during the period. Finally, Teacher Retirement System of Texas grew its stake in Vectren by 2.1% in the 2nd quarter. Teacher Retirement System of Texas now owns 6,626 shares of the utilities provider’s stock worth $387,000 after acquiring an additional 135 shares during the period. 63.99% of the stock is owned by hedge funds and other institutional investors.
Shares of Vectren Corporation (NYSE VVC) traded up $0.18 on Monday, hitting $69.09. 226,900 shares of the company’s stock were exchanged, compared to its average volume of 381,374. The firm has a market cap of $5,734.63, a price-to-earnings ratio of 25.49, a PEG ratio of 4.65 and a beta of 0.83. Vectren Corporation has a 52 week low of $50.88 and a 52 week high of $69.86. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.55 and a current ratio of 0.70.
Vectren (NYSE:VVC) last announced its quarterly earnings results on Thursday, November 2nd. The utilities provider reported $0.75 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.67 by $0.08. The company had revenue of $691.20 million for the quarter, compared to analyst estimates of $615.00 million. Vectren had a net margin of 8.49% and a return on equity of 12.51%. Vectren’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same quarter last year, the business earned $0.74 EPS. equities research analysts anticipate that Vectren Corporation will post 2.62 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Wednesday, November 15th were issued a dividend of $0.45 per share. This is a positive change from Vectren’s previous quarterly dividend of $0.42. The ex-dividend date was Tuesday, November 14th. This represents a $1.80 annualized dividend and a dividend yield of 2.61%. Vectren’s payout ratio is presently 66.42%.
A number of brokerages have 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 lowered shares of Vectren from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Finally, Citigroup lifted their price target on shares of Vectren from $66.00 to $75.00 and gave the company a “buy” rating in a report on Monday, November 20th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $70.00.
In other Vectren news, Director Derrick Burks bought 1,000 shares of Vectren stock in a transaction that occurred on Thursday, September 28th. The shares were acquired at an average price of $65.60 per share, for a total transaction of $65,600.00. Following the acquisition, the director now owns 1,000 shares of the company’s stock, valued at approximately $65,600. The acquisition was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.14% of the company’s stock.
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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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