Neuburgh Advisers LLC increased its holdings in Vectren (NYSE:VVC) by 62.2% in the first quarter, HoldingsChannel reports. The institutional investor owned 17,072 shares of the utilities provider’s stock after buying an additional 6,544 shares during the period. Neuburgh Advisers LLC’s holdings in Vectren were worth $1,091,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Macquarie Group Ltd. raised its position in shares of Vectren by 7.8% in the fourth quarter. Macquarie Group Ltd. now owns 21,900 shares of the utilities provider’s stock valued at $138,000 after buying an additional 1,589 shares in the last quarter. Assetmark Inc. increased its stake in Vectren by 12,841.2% in the fourth quarter. Assetmark Inc. now owns 2,200 shares of the utilities provider’s stock valued at $143,000 after acquiring an additional 2,183 shares during the last quarter. Bray Capital Advisors bought a new position in Vectren in the first quarter valued at approximately $152,000. SeaCrest Wealth Management LLC bought a new position in Vectren in the fourth quarter valued at approximately $163,000. Finally, Telemus Capital LLC bought a new position in Vectren in the fourth quarter valued at approximately $175,000. Institutional investors own 64.55% of the company’s stock.
A number of brokerages recently issued reports on VVC. Zacks Investment Research cut shares of Vectren from a “hold” rating to a “sell” rating in a research note on Wednesday, May 9th. Citigroup cut shares of Vectren from a “buy” rating to a “neutral” rating and set a $72.00 price objective on the stock. in a research note on Wednesday, April 25th. Bank of America reissued a “neutral” rating on shares of Vectren in a research note on Tuesday, February 27th. Guggenheim reissued a “hold” rating and issued a $61.00 price objective on shares of Vectren in a research note on Friday, February 23rd. Finally, Wells Fargo set a $58.00 price objective on shares of Vectren and gave the company a “hold” rating in a research note on Tuesday, February 13th. One analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $66.00.
Shares of Vectren opened at $69.26 on Friday, Marketbeat Ratings reports. The company has a market capitalization of $5.77 billion, a P/E ratio of 26.32, a PEG ratio of 3.47 and a beta of 0.57. The company has a current ratio of 0.61, a quick ratio of 0.49 and a debt-to-equity ratio of 0.89. Vectren has a 1 year low of $57.48 and a 1 year high of $70.76.
Vectren (NYSE:VVC) last announced its quarterly earnings data on Tuesday, February 20th. The utilities provider reported $0.74 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.02). The firm had revenue of $711.00 million during the quarter, compared to the consensus estimate of $620.00 million. Vectren had a net margin of 8.33% and a return on equity of 11.94%. The business’s revenue was up 1.7% compared to the same quarter last year. During the same period last year, the business earned $0.84 earnings per share. equities analysts predict that Vectren will post 2.86 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, June 1st. Shareholders of record on Tuesday, May 15th will be paid a dividend of $0.45 per share. The ex-dividend date of this dividend is Monday, May 14th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.60%. Vectren’s payout ratio is presently 69.23%.
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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