According to Zacks, “Vectren Corp., through its regulated subsidiaries Indiana Gas and SIGECO, offers gas and/or electricity to customers in adjoining service areas that cover nearly two-thirds of Indiana. Vectren’s non-regulated subsidiaries currently offer energy-related products and services, including energy marketing, fiber-optic based communication services, and utility related services including materials management, debt collections, locating, meter reading and trenching services to customers throughout the surrounding region. (PRESS RELEASE) “
Separately, Citigroup Inc. upped their target price on shares of Vectren Corp. from $44.00 to $53.00 and gave the stock a neutral rating in a research report on Wednesday, July 27th.
Shares of Vectren Corp. (NYSE:VVC) opened at 51.25 on Tuesday. Vectren Corp. has a one year low of $39.43 and a one year high of $53.33. The stock has a market cap of $4.25 billion, a price-to-earnings ratio of 22.92 and a beta of 0.57. The stock’s 50 day moving average price is $49.92 and its 200 day moving average price is $50.31.
Vectren Corp. (NYSE:VVC) last issued its quarterly earnings results on Wednesday, August 3rd. The company reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by $0.04. Vectren Corp. had a return on equity of 10.99% and a net margin of 8.06%. The firm had revenue of $533.70 million for the quarter, compared to analyst estimates of $585.40 million. During the same quarter last year, the firm earned $0.43 earnings per share. The company’s revenue was down 3.1% compared to the same quarter last year. Analysts forecast that Vectren Corp. will post $2.47 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, September 1st. Shareholders of record on Monday, August 15th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Thursday, August 11th. This represents a $1.60 annualized dividend and a yield of 3.12%. Vectren Corp.’s payout ratio is currently 71.43%.
A number of hedge funds and other institutional investors have recently modified their holdings of VVC. Mason Street Advisors LLC bought a new position in shares of Vectren Corp. during the second quarter valued at $1,989,000. Public Employees Retirement System of Ohio increased its stake in shares of Vectren Corp. by 0.6% in the second quarter. Public Employees Retirement System of Ohio now owns 31,980 shares of the company’s stock valued at $1,684,000 after buying an additional 192 shares during the period. Schwab Charles Investment Management Inc. increased its stake in shares of Vectren Corp. by 4.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 294,751 shares of the company’s stock valued at $15,525,000 after buying an additional 12,374 shares during the period. Stifel Financial Corp increased its stake in shares of Vectren Corp. by 4.3% in the second quarter. Stifel Financial Corp now owns 51,987 shares of the company’s stock valued at $2,739,000 after buying an additional 2,134 shares during the period. Finally, Arvest Bank Trust Division acquired a new stake in shares of Vectren Corp. during the second quarter valued at about $297,000. Institutional investors own 62.91% of the company’s stock.
Vectren Corp. 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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