Shares of Vectren Corporation (NYSE:VVC) have earned a consensus broker rating score of 2.67 (Hold) from the six brokers that provide coverage for the stock, Zacks Investment Research reports. Five equities research analysts have rated the stock with a hold rating and one has given a strong buy rating to the company. Vectren Corporation’s rating score has improved by 6.6% from 90 days ago as a result of various analysts’ ratings changes.
Brokers have set a 1-year consensus price target of $61.50 for the company and are forecasting that the company will post $0.80 earnings per share for the current quarter, according to Zacks. Zacks has also given Vectren Corporation an industry rank of 164 out of 265 based on the ratings given to its competitors.
Several equities analysts have weighed in on the stock. Zacks Investment Research upgraded shares of Vectren Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, September 12th. BidaskClub upgraded shares of Vectren Corporation from a “hold” rating to a “buy” rating in a report on Wednesday, August 23rd.
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Vectren Corporation (NYSE:VVC) traded down $0.69 on Monday, hitting $67.01. The stock had a trading volume of 618,801 shares, compared to its average volume of 441,095. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.55 and a current ratio of 0.70. Vectren Corporation has a 1 year low of $46.78 and a 1 year high of $68.84. The stock has a market capitalization of $5,560.00, a P/E ratio of 25.09, a P/E/G ratio of 4.56 and a beta of 0.84.
Vectren Corporation (NYSE:VVC) last posted its earnings results on Thursday, November 2nd. The utilities provider reported $0.75 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.08. Vectren Corporation had a net margin of 8.66% and a return on equity of 12.65%. The firm had revenue of $691.20 million during the quarter, compared to the consensus estimate of $615.00 million. During the same period last year, the firm posted $0.74 EPS. The firm’s revenue for the quarter was up 9.5% on a year-over-year basis. analysts expect that Vectren Corporation will post 2.62 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Wednesday, November 15th will be issued a dividend of $0.45 per share. The ex-dividend date of this dividend is Tuesday, November 14th. This is an increase from Vectren Corporation’s previous quarterly dividend of $0.42. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.69%. Vectren Corporation’s payout ratio is 61.99%.
In other news, Director Derrick Burks purchased 1,000 shares of the stock in a transaction dated Thursday, September 28th. The stock was acquired at an average cost of $65.60 per share, for a total transaction of $65,600.00. Following the completion of the acquisition, the director now directly owns 1,000 shares in the company, valued at approximately $65,600. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.14% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. Bronfman E.L. Rothschild L.P. grew its holdings in shares of Vectren Corporation 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 buying an additional 75 shares in the last quarter. Global X Management Co. LLC grew its holdings in shares of Vectren Corporation by 220.7% during the second quarter. Global X Management Co. LLC now owns 2,630 shares of the utilities provider’s stock worth $154,000 after buying an additional 1,810 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Vectren Corporation 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 buying an additional 331 shares in the last quarter. Stratos Wealth Partners LTD. grew its holdings in shares of Vectren Corporation by 2.4% during the second quarter. Stratos Wealth Partners LTD. now owns 3,518 shares of the utilities provider’s stock worth $206,000 after buying an additional 84 shares in the last quarter. Finally, Bbva Compass Bancshares Inc. purchased a new stake in shares of Vectren Corporation during the third quarter worth about $206,000. Institutional investors and hedge funds own 62.92% of the company’s stock.
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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