Zacks Investment Research upgraded shares of Vectren (NYSE:VVC) from a hold rating to a buy rating in a report issued on Saturday. The brokerage currently has $72.00 price target on the utilities provider’s stock.
According to Zacks, “Vectren Corporation is an energy holding company headquartered in Evansville, Ind. Vectren’s energy delivery subsidiaries provide gas and/or electricity to the customers in adjoining service territories that cover nearly two-thirds of Indiana and west central Ohio. Vectren’s nonutility subsidiaries and affiliates currently offer energy-related products and services to customers throughout the U.S. These include infrastructure services, energy services, coal mining and energy marketing. “
A number of other analysts also recently weighed in on the stock. Wells Fargo set a $58.00 price target on shares of Vectren and gave the stock a hold rating in a report on Tuesday, February 13th. Guggenheim downgraded shares of Vectren from a buy rating to a neutral rating in a report on Tuesday, January 2nd. Finally, Bank of America reaffirmed a neutral rating on shares of Vectren in a report on Tuesday, February 27th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus target price of $66.50.
Shares of Vectren stock opened at $65.36 on Friday. Vectren has a 1-year low of $57.48 and a 1-year high of $69.86. The company has a quick ratio of 0.59, a current ratio of 0.72 and a debt-to-equity ratio of 0.94. The company has a market cap of $5,447.44, a PE ratio of 25.14, a PEG ratio of 3.61 and a beta of 0.59.
Vectren (NYSE:VVC) last issued its quarterly earnings results on Tuesday, February 20th. The utilities provider reported $0.74 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.76 by ($0.02). Vectren had a return on equity of 11.91% and a net margin of 8.13%. The firm had revenue of $711.00 million for the quarter, compared to the consensus estimate of $620.00 million. During the same period last year, the company posted $0.84 EPS. The business’s revenue was up 1.7% on a year-over-year basis. research analysts forecast that Vectren will post 2.87 earnings per share for the current year.
A number of hedge funds have recently added to or reduced their stakes in VVC. BlackRock Inc. increased its position in Vectren by 6.4% during the 4th quarter. BlackRock Inc. now owns 8,338,163 shares of the utilities provider’s stock worth $542,147,000 after purchasing an additional 503,213 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its position in Vectren by 90.0% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,041,443 shares of the utilities provider’s stock worth $67,715,000 after purchasing an additional 493,212 shares in the last quarter. Wells Fargo & Company MN increased its position in Vectren by 193.3% during the 4th quarter. Wells Fargo & Company MN now owns 370,336 shares of the utilities provider’s stock worth $24,078,000 after purchasing an additional 244,084 shares in the last quarter. APG Asset Management N.V. increased its position in Vectren by 419.0% during the 4th quarter. APG Asset Management N.V. now owns 215,400 shares of the utilities provider’s stock worth $11,663,000 after purchasing an additional 173,900 shares in the last quarter. Finally, Allianz Asset Management GmbH increased its position in Vectren by 249.3% during the 4th quarter. Allianz Asset Management GmbH now owns 231,606 shares of the utilities provider’s stock worth $15,059,000 after purchasing an additional 165,307 shares in the last quarter. Institutional investors and hedge funds own 64.14% of the company’s stock.
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Vectren Company Profile
Vectren Corporation provides energy delivery services to residential, commercial, and industrial and other contract customers. The company offers natural gas distribution and transportation services, and electric transmission and distribution services; and owns and operates coal-fired, natural gas or oil-fired, and landfill gas electric generating facilities with an installed generating capacity of 1,248 megawatts.
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