Vectren (NYSE:VVC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Friday.

According to Zacks, “Vectren Corporation is an energy holding company headquartered in Evansville, Ind. Vectren’s energy delivery subsidiaries provide gas and/or electricity to the customers in adjoining service territories that cover nearly two-thirds of Indiana and west central Ohio. Vectren’s nonutility subsidiaries and affiliates currently offer energy-related products and services to customers throughout the U.S. These include infrastructure services, energy services, coal mining and energy marketing. “

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Several other analysts also recently commented on the stock. Wells Fargo set a $58.00 price objective on shares of Vectren and gave the company a “hold” rating in a report on Tuesday, February 13th. Guggenheim downgraded shares of Vectren from a “buy” rating to a “neutral” rating in a report on Tuesday, January 2nd. ValuEngine downgraded shares of Vectren from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Finally, Bank of America reissued a “neutral” rating on shares of Vectren in a report on Tuesday, February 27th. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $66.25.

Vectren (NYSE:VVC) traded up $0.19 during mid-day trading on Friday, hitting $63.29. 29,933 shares of the stock traded hands, compared to its average volume of 513,508. The stock has a market cap of $5,271.39, a P/E ratio of 24.23, a P/E/G ratio of 3.49 and a beta of 0.67. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.72 and a quick ratio of 0.59. Vectren has a fifty-two week low of $57.48 and a fifty-two week high of $69.86.

Vectren (NYSE:VVC) last released its quarterly earnings data on Tuesday, February 20th. The utilities provider reported $0.74 EPS for the quarter, missing the consensus estimate of $0.76 by ($0.02). The business had revenue of $711.00 million during the quarter, compared to analysts’ expectations of $620.00 million. Vectren had a net margin of 8.13% and a return on equity of 11.91%. The firm’s revenue was up 1.7% on a year-over-year basis. During the same period last year, the company earned $0.84 earnings per share. equities analysts forecast that Vectren will post 2.87 earnings per share for the current year.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Macquarie Group Ltd. boosted its holdings in Vectren by 7.8% during the fourth quarter. Macquarie Group Ltd. now owns 21,900 shares of the utilities provider’s stock worth $138,000 after buying an additional 1,589 shares in the last quarter. Assetmark Inc. boosted its holdings in Vectren by 12,841.2% during the fourth quarter. Assetmark Inc. now owns 2,200 shares of the utilities provider’s stock worth $143,000 after buying an additional 2,183 shares in the last quarter. SeaCrest Wealth Management LLC purchased a new stake in Vectren during the fourth quarter worth $163,000. Telemus Capital LLC purchased a new stake in Vectren during the fourth quarter worth $175,000. Finally, Boothbay Fund Management LLC purchased a new stake in Vectren during the third quarter worth $203,000. 64.13% of the stock is currently owned by hedge funds and other institutional investors.

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Vectren 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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