ValuEngine Lowers Vectren (NYSE:VVC) to Hold

Vectren (NYSE:VVC) was downgraded by research analysts at ValuEngine from a “buy” rating to a “hold” rating in a research note issued to investors on Friday, December 1st.

Several other research firms also recently issued reports on VVC. Zacks Investment Research raised Vectren from a “sell” rating to a “hold” rating in a research note on Tuesday, September 12th. Citigroup increased their target price on shares of Vectren from $66.00 to $75.00 and gave the company a “buy” rating in a research report on Monday, November 20th. Finally, BidaskClub raised shares of Vectren from a “hold” rating to a “buy” rating in a research report on Wednesday, August 23rd. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $70.00.

Shares of Vectren (VVC) opened at $69.09 on Friday. Vectren 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 current ratio of 0.70 and a quick ratio of 0.55. The stock has a market cap of $5,734.61, a PE ratio of 25.49, a PEG ratio of 4.65 and a beta of 0.83.

Vectren (NYSE:VVC) last posted its quarterly earnings data on Thursday, November 2nd. The utilities provider reported $0.75 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.67 by $0.08. The business 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%. Vectren’s revenue was up 9.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.74 earnings per share. sell-side analysts forecast that Vectren will post 2.62 EPS for the current year.

In other Vectren news, Director Derrick Burks purchased 1,000 shares of the business’s stock in a transaction on Thursday, September 28th. The shares were purchased at an average cost 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 $65,600. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.14% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently modified their holdings of the stock. Bronfman E.L. Rothschild L.P. lifted its holdings in shares of 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 purchasing an additional 75 shares in the last quarter. Global X Management Co. LLC raised its position in Vectren by 220.7% in the 2nd quarter. Global X Management Co. LLC now owns 2,630 shares of the utilities provider’s stock valued at $154,000 after buying an additional 1,810 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Vectren by 12.4% in the 2nd 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 last quarter. Boothbay Fund Management LLC purchased a new stake in Vectren in the 3rd quarter valued at $203,000. Finally, Bbva Compass Bancshares Inc. purchased a new stake in Vectren in the 3rd quarter valued at $206,000. Institutional investors own 63.99% of the company’s stock.

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About Vectren

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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