Vectren Corp (NYSE:VVC) has been given a consensus rating of “Buy” by the six ratings firms that are covering the stock, MarketBeat reports. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $75.00.
Several research firms have weighed in on VVC. ValuEngine lowered shares of Vectren from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Citigroup increased their price target on shares of Vectren from $66.00 to $75.00 and gave the stock a “buy” rating in a research note on Monday, November 20th. Finally, Zacks Investment Research upgraded shares of Vectren from a “sell” rating to a “hold” rating in a research note on Thursday, October 12th.
Vectren (NYSE VVC) traded down $0.05 during trading on Tuesday, reaching $65.02. 272,015 shares of the company’s stock traded hands, compared to its average volume of 379,553. The firm has a market cap of $5,364.44, a price-to-earnings ratio of 23.99, a PEG ratio of 4.12 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 has a 1 year low of $51.50 and a 1 year high of $69.86.
Vectren (NYSE:VVC) last released its quarterly earnings data on Thursday, November 2nd. The utilities provider reported $0.75 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.08. The firm 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%. The company’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.74 EPS. research analysts expect that Vectren will post 2.62 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, December 1st. Stockholders of record on Wednesday, November 15th were paid 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 of this dividend was Tuesday, November 14th. This represents a $1.80 annualized dividend and a dividend yield of 2.77%. Vectren’s dividend payout ratio is 66.42%.
Several institutional investors and hedge funds have recently made changes to their positions in VVC. Vanguard Group Inc. boosted its holdings in shares of Vectren by 2.5% during the 2nd quarter. Vanguard Group Inc. now owns 7,553,087 shares of the utilities provider’s stock worth $441,403,000 after buying an additional 182,550 shares during the period. State Street Corp boosted its holdings in shares of Vectren by 14.6% during the 2nd quarter. State Street Corp now owns 5,808,728 shares of the utilities provider’s stock worth $339,461,000 after buying an additional 740,825 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of Vectren by 86.4% during the 2nd quarter. Principal Financial Group Inc. now owns 1,320,557 shares of the utilities provider’s stock worth $77,173,000 after buying an additional 612,201 shares during the period. Epoch Investment Partners Inc. boosted its holdings in shares of Vectren by 8.2% during the 2nd quarter. Epoch Investment Partners Inc. now owns 1,131,600 shares of the utilities provider’s stock worth $66,131,000 after buying an additional 85,364 shares during the period. Finally, Schroder Investment Management Group boosted its holdings in shares of Vectren by 2.1% during the 3rd quarter. Schroder Investment Management Group now owns 1,039,849 shares of the utilities provider’s stock worth $68,630,000 after buying an additional 21,489 shares during the period. Institutional investors own 63.97% of the company’s stock.
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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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