Vectren Corp (NYSE:VVC) has received a consensus recommendation of “Hold” from the six research firms that are presently covering the company, Marketbeat reports. Four equities research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $66.50.
A number of research firms have recently issued reports on VVC. Wells Fargo & Co set a $58.00 price objective on shares of Vectren and gave the stock a “hold” rating in a report on Tuesday. ValuEngine downgraded shares of Vectren from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Guggenheim downgraded shares of Vectren from a “buy” rating to a “neutral” rating in a report on Tuesday, January 2nd. Finally, Citigroup lifted their price objective on shares of Vectren from $66.00 to $75.00 and gave the stock a “buy” rating in a report on Monday, November 20th.
Vectren (NYSE:VVC) traded down $0.14 during midday trading on Wednesday, hitting $62.01. 201,752 shares of the stock were exchanged, compared to its average volume of 532,717. Vectren has a 52 week low of $54.08 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 company has a market cap of $5,189.31, a P/E ratio of 22.92, a P/E/G ratio of 3.69 and a beta of 0.69.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 1st. Stockholders of record on Thursday, February 15th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.90%. The ex-dividend date of this dividend is Wednesday, February 14th. Vectren’s dividend payout ratio is currently 66.42%.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. FMR LLC lifted its stake in Vectren by 6.0% in the second quarter. FMR LLC now owns 138,906 shares of the utilities provider’s stock worth $8,117,000 after purchasing an additional 7,873 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Vectren by 1.7% in the second quarter. Dimensional Fund Advisors LP now owns 409,935 shares of the utilities provider’s stock worth $23,957,000 after purchasing an additional 6,713 shares during the last quarter. Balyasny Asset Management LLC lifted its stake in Vectren by 132.3% in the second quarter. Balyasny Asset Management LLC now owns 12,774 shares of the utilities provider’s stock worth $747,000 after purchasing an additional 7,274 shares during the last quarter. HighTower Advisors LLC lifted its stake in Vectren by 34.9% in the second quarter. HighTower Advisors LLC now owns 4,879 shares of the utilities provider’s stock worth $286,000 after purchasing an additional 1,263 shares during the last quarter. Finally, Janus Henderson Group PLC bought a new stake in Vectren in the second quarter worth $9,000,000. 63.84% of the stock is owned by institutional investors.
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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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