Vectren Corp (VVC) Updates FY17 Earnings Guidance

Vectren Corp (NYSE:VVC) updated its FY17 earnings guidance on Friday. The company provided earnings per share (EPS) guidance of $2.55-2.65 for the period, compared to the Thomson Reuters consensus estimate of $2.62.

A number of brokerages recently weighed in on VVC. Zacks Investment Research downgraded shares of Vectren Corp from a strong-buy rating to a hold rating in a research note on Tuesday, February 7th. Citigroup Inc raised their target price on shares of Vectren Corp from $58.00 to $66.00 and gave the company a buy rating in a research note on Tuesday, May 9th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company has an average rating of Buy and an average price target of $63.50.

Shares of Vectren Corp (NYSE:VVC) traded up 1.03% on Friday, reaching $59.73. 264,799 shares of the company’s stock were exchanged. The firm has a market cap of $4.95 billion, a PE ratio of 22.62 and a beta of 0.70. Vectren Corp has a one year low of $46.52 and a one year high of $60.47. The company has a 50 day moving average price of $59.17 and a 200 day moving average price of $54.71.

Vectren Corp (NYSE:VVC) last issued its quarterly earnings data on Monday, May 8th. The utilities provider reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.02. Vectren Corp had a return on equity of 12.16% and a net margin of 8.80%. The company had revenue of $624.50 million for the quarter, compared to the consensus estimate of $595.84 million. During the same quarter last year, the company earned $0.58 earnings per share. The firm’s revenue for the quarter was up 6.8% compared to the same quarter last year. Analysts expect that Vectren Corp will post $2.62 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 1st. Investors of record on Monday, May 15th will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 2.81%. The ex-dividend date of this dividend is Thursday, May 11th. Vectren Corp’s payout ratio is currently 67.20%.

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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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