Vectren Corporation (NYSE:VVC) Lowered to “Strong Sell” at BidaskClub

BidaskClub cut shares of Vectren Corporation (NYSE:VVC) from a sell rating to a strong sell rating in a research note issued to investors on Wednesday, July 12th.

VVC has been the topic of a number of other reports. Zacks Investment Research cut shares of Vectren Corporation from a hold rating to a sell rating in a report on Wednesday, March 15th. Citigroup Inc. upped their price target on shares of Vectren Corporation from $58.00 to $66.00 and gave the stock a buy rating in a report on Tuesday, May 9th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Vectren Corporation has an average rating of Buy and an average target price of $65.50.

Vectren Corporation (NYSE:VVC) traded down 1.00% during trading on Wednesday, hitting $60.13. 415,450 shares of the company traded hands. The stock has a market capitalization of $4.99 billion, a PE ratio of 22.28 and a beta of 0.81. Vectren Corporation has a 52 week low of $46.52 and a 52 week high of $62.79. The company’s 50 day moving average is $59.46 and its 200-day moving average is $58.49.

Vectren Corporation (NYSE:VVC) last posted its quarterly earnings data on Thursday, August 3rd. The utilities provider reported $0.45 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.02. Vectren Corporation had a net margin of 8.66% and a return on equity of 12.65%. The business had revenue of $630.70 million for the quarter, compared to analysts’ expectations of $565.12 million. During the same quarter in the previous year, the business posted $0.39 earnings per share. The business’s revenue was up 18.2% compared to the same quarter last year. Analysts predict that Vectren Corporation will post $2.62 earnings per share for the current year.

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The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Tuesday, August 15th will be paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date is Friday, August 11th. Vectren Corporation’s dividend payout ratio (DPR) is presently 62.22%.

A number of hedge funds have recently added to or reduced their stakes in VVC. Capital One National Association raised its stake in Vectren Corporation by 2.5% in the first quarter. Capital One National Association now owns 7,198 shares of the utilities provider’s stock valued at $422,000 after buying an additional 175 shares during the last quarter. M&T Bank Corp raised its stake in Vectren Corporation by 10.5% in the first quarter. M&T Bank Corp now owns 5,669 shares of the utilities provider’s stock valued at $333,000 after buying an additional 541 shares during the last quarter. Meadow Creek Investment Management LLC raised its stake in Vectren Corporation by 17.3% in the first quarter. Meadow Creek Investment Management LLC now owns 11,526 shares of the utilities provider’s stock valued at $676,000 after buying an additional 1,700 shares during the last quarter. Hendley & Co. Inc. raised its stake in Vectren Corporation by 0.4% in the fourth quarter. Hendley & Co. Inc. now owns 17,880 shares of the utilities provider’s stock valued at $932,000 after buying an additional 80 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its stake in Vectren Corporation by 1.3% in the first quarter. PNC Financial Services Group Inc. now owns 148,630 shares of the utilities provider’s stock valued at $8,711,000 after buying an additional 1,863 shares during the last quarter. 64.57% of the stock is owned by institutional investors.

Vectren Corporation 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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