Wells Fargo & Company MN increased its position in shares of Vectren Corp (NYSE:VVC) by 99.8% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 126,252 shares of the utilities provider’s stock after purchasing an additional 63,054 shares during the period. Wells Fargo & Company MN owned approximately 0.15% of Vectren worth $8,303,000 as of its most recent SEC filing.
A number of other institutional investors also recently modified their holdings of the business. Bronfman E.L. Rothschild L.P. boosted its position in Vectren by 3.3% during the second 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 last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Vectren by 12.4% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,993 shares of the utilities provider’s stock worth $175,000 after acquiring an additional 331 shares during the last quarter. Bbva Compass Bancshares Inc. acquired a new stake in Vectren during the third quarter worth approximately $206,000. Klingenstein Fields & Co. LLC acquired a new stake in Vectren during the third quarter worth approximately $207,000. Finally, Parsons Capital Management Inc. RI acquired a new stake in Vectren during the third quarter worth approximately $213,000. 63.96% of the stock is owned by institutional investors.
Vectren Corp (NYSE VVC) opened at $60.92 on Friday. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.55 and a current ratio of 0.70. The stock has a market cap of $5,060.00, a PE ratio of 22.48, a price-to-earnings-growth ratio of 3.62 and a beta of 0.83. Vectren Corp has a one year low of $53.28 and a one year high of $69.86.
Vectren (NYSE:VVC) last released its earnings results on Thursday, November 2nd. The utilities provider reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.08. Vectren had a net margin of 8.49% and a return on equity of 12.51%. The business had revenue of $691.20 million for the quarter, compared to the consensus estimate of $615.00 million. During the same period in the previous year, the firm earned $0.74 EPS. The business’s revenue for the quarter was up 9.5% on a year-over-year basis. equities research analysts predict that Vectren Corp will post 2.62 earnings per share for the current fiscal year.
A number of equities analysts have weighed in on the stock. Guggenheim downgraded shares of Vectren from a “buy” rating to a “neutral” rating in a research note on Tuesday, January 2nd. ValuEngine downgraded shares of Vectren from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Citigroup lifted 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 raised shares of Vectren from a “sell” rating to a “hold” rating in a research note on Thursday, October 12th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $70.00.
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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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