Vectren Corp (VVC) Receives Average Recommendation of “Buy” from Brokerages

Shares of Vectren Corp (NYSE:VVC) have earned an average recommendation of “Buy” from the six research firms that are currently covering the stock, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $75.00.

VVC has been the topic of a number of recent analyst reports. ValuEngine cut Vectren from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Citigroup raised their price target on Vectren from $66.00 to $75.00 and gave the stock a “buy” rating in a research report on Monday, November 20th. Finally, Zacks Investment Research upgraded Vectren from a “sell” rating to a “hold” rating in a research report on Thursday, October 12th.

Shares of Vectren (NYSE:VVC) traded up $0.24 during trading on Tuesday, reaching $64.82. The company’s stock had a trading volume of 216,900 shares, compared to its average volume of 381,597. Vectren has a fifty-two week low of $51.50 and a fifty-two week high of $69.86. The firm has a market cap of $5,380.21, a P/E ratio of 23.92, a price-to-earnings-growth ratio of 4.13 and a beta of 0.83. The company has a quick ratio of 0.55, a current ratio of 0.70 and a debt-to-equity ratio of 0.90.

Vectren (NYSE:VVC) last posted its earnings results on Thursday, November 2nd. The utilities provider reported $0.75 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.67 by $0.08. Vectren had a return on equity of 12.51% and a net margin of 8.49%. The company had revenue of $691.20 million during the quarter, compared to the consensus estimate of $615.00 million. During the same quarter last year, the firm earned $0.74 earnings per share. The company’s revenue was up 9.5% on a year-over-year basis. sell-side analysts expect that Vectren will post 2.62 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, December 1st. Shareholders of record on Wednesday, November 15th were given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 2.78%. The ex-dividend date was Tuesday, November 14th. This is a boost from Vectren’s previous quarterly dividend of $0.42. Vectren’s payout ratio is currently 66.42%.

In other Vectren news, Director Derrick Burks bought 1,000 shares of the firm’s stock in a transaction on Thursday, September 28th. The shares were purchased at an average price of $65.60 per share, for a total transaction of $65,600.00. Following the completion of the transaction, the director now directly owns 1,000 shares in the company, valued at approximately $65,600. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.14% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the company. Bronfman E.L. Rothschild L.P. lifted its stake in shares of Vectren by 3.3% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 2,371 shares of the utilities provider’s stock worth $139,000 after acquiring an additional 75 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Vectren by 12.4% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,993 shares of the utilities provider’s stock worth $175,000 after acquiring an additional 331 shares during the period. Boothbay Fund Management LLC acquired a new position in shares of Vectren in the third quarter worth approximately $203,000. Bbva Compass Bancshares Inc. acquired a new position in shares of Vectren in the third quarter worth approximately $206,000. Finally, Klingenstein Fields & Co. LLC acquired a new position in shares of Vectren in the third quarter worth approximately $207,000. Institutional investors own 63.97% of the company’s stock.

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Vectren 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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