Raymond James Financial Services Advisors Inc. raised its stake in shares of Vectren Corporation (NYSE:VVC) by 3.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 53,508 shares of the utilities provider’s stock after purchasing an additional 1,872 shares during the period. Raymond James Financial Services Advisors Inc. owned 0.06% of Vectren Corporation worth $3,519,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently bought and sold shares of the company. FMR LLC lifted its stake in Vectren Corporation by 2,133.0% in the first quarter. FMR LLC now owns 131,033 shares of the utilities provider’s stock worth $7,680,000 after acquiring an additional 125,165 shares during the last quarter. Teachers Advisors LLC lifted its stake in Vectren Corporation by 7.7% in the first quarter. Teachers Advisors LLC now owns 134,122 shares of the utilities provider’s stock worth $7,861,000 after acquiring an additional 9,552 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Vectren Corporation by 6.7% during the first quarter. Dimensional Fund Advisors LP now owns 403,222 shares of the utilities provider’s stock worth $23,632,000 after purchasing an additional 25,317 shares in the last quarter. Capstone Asset Management Co. raised its holdings in Vectren Corporation by 1.4% during the second quarter. Capstone Asset Management Co. now owns 7,236 shares of the utilities provider’s stock worth $423,000 after purchasing an additional 100 shares in the last quarter. Finally, State of Alaska Department of Revenue raised its holdings in Vectren Corporation by 6.7% during the second quarter. State of Alaska Department of Revenue now owns 5,538 shares of the utilities provider’s stock worth $323,000 after purchasing an additional 348 shares in the last quarter. 62.78% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts have weighed in on the stock. Zacks Investment Research raised shares of Vectren Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, September 12th. Citigroup Inc. lifted their target price on shares of Vectren Corporation from $66.00 to $75.00 and gave the company a “buy” rating in a report on Monday. Finally, BidaskClub raised shares of Vectren Corporation from a “hold” rating to a “buy” rating in a report on Wednesday, August 23rd. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $70.00.
Shares of Vectren Corporation (NYSE:VVC) traded up $0.14 during midday trading on Friday, hitting $67.52. 262,800 shares of the company’s stock traded hands, compared to its average volume of 387,423. The stock has a market cap of $5,604.32, a price-to-earnings ratio of 24.92, a P/E/G ratio of 4.55 and a beta of 0.84. Vectren Corporation has a 52 week low of $48.34 and a 52 week high of $68.84. The company has a quick ratio of 0.55, a current ratio of 0.70 and a debt-to-equity ratio of 0.90.
Vectren Corporation (NYSE:VVC) last issued its earnings results on Thursday, November 2nd. The utilities provider reported $0.75 EPS for the quarter, topping the consensus estimate of $0.67 by $0.08. Vectren Corporation had a net margin of 8.49% and a return on equity of 12.51%. The company had revenue of $691.20 million for the quarter, compared to analyst estimates of $615.00 million. During the same period in the previous year, the firm earned $0.74 EPS. The business’s revenue was up 9.5% on a year-over-year basis. equities research analysts forecast that Vectren Corporation will post 2.62 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Wednesday, November 15th will be given a $0.45 dividend. The ex-dividend date is Tuesday, November 14th. This is a positive change from Vectren Corporation’s previous quarterly dividend of $0.42. This represents a $1.80 annualized dividend and a dividend yield of 2.67%. Vectren Corporation’s payout ratio is currently 66.42%.
In other Vectren Corporation news, Director Derrick Burks acquired 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 28th. The shares were acquired at an average cost of $65.60 per share, for a total transaction of $65,600.00. Following the transaction, the director now directly owns 1,000 shares of the company’s stock, valued at $65,600. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.14% of the stock is owned by insiders.
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Vectren Corporation 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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