Duff & Phelps Investment Management Co. Raises Stake in Vectren Corp. (VVC)
Duff & Phelps Investment Management Co. increased its stake in Vectren Corp. (NYSE:VVC) by 2.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,591,040 shares of the company’s stock after buying an additional 36,225 shares during the period. Duff & Phelps Investment Management Co. owned 1.92% of Vectren Corp. worth $79,870,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in the company. Capital One National Association increased its position in Vectren Corp. by 26.1% in the second quarter. Capital One National Association now owns 7,100 shares of the company’s stock valued at $374,000 after buying an additional 1,470 shares during the last quarter. Woodley Farra Manion Portfolio Management Inc. increased its position in Vectren Corp. by 11.5% in the second quarter. Woodley Farra Manion Portfolio Management Inc. now owns 58,472 shares of the company’s stock valued at $3,080,000 after buying an additional 6,025 shares during the last quarter. Nisa Investment Advisors LLC increased its position in Vectren Corp. by 15.9% in the second quarter. Nisa Investment Advisors LLC now owns 58,320 shares of the company’s stock valued at $3,072,000 after buying an additional 8,000 shares during the last quarter. Eqis Capital Management Inc. bought a new position in Vectren Corp. during the second quarter valued at $399,000. Finally, Capstone Asset Management Co. increased its position in Vectren Corp. by 7.2% in the second quarter. Capstone Asset Management Co. now owns 7,866 shares of the company’s stock valued at $414,000 after buying an additional 530 shares during the last quarter. 62.24% of the stock is owned by institutional investors.
Shares of Vectren Corp. (NYSE:VVC) opened at 50.54 on Tuesday. The stock has a 50 day moving average price of $48.63 and a 200-day moving average price of $50.00. Vectren Corp. has a 12 month low of $39.43 and a 12 month high of $53.33. The stock has a market cap of $4.19 billion, a P/E ratio of 20.19 and a beta of 0.64.
Vectren Corp. (NYSE:VVC) last issued its quarterly earnings data on Wednesday, November 2nd. The company reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.10. Vectren Corp. had a return on equity of 12.16% and a net margin of 8.80%. The business earned $631 million during the quarter, compared to analyst estimates of $611.78 million. During the same period in the prior year, the company posted $0.48 EPS. The business’s revenue for the quarter was up 10.0% compared to the same quarter last year. On average, analysts forecast that Vectren Corp. will post $2.50 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Tuesday, November 15th will be issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 3.32%. This is a positive change from Vectren Corp.’s previous quarterly dividend of $0.40. The ex-dividend date is Thursday, November 10th. Vectren Corp.’s dividend payout ratio is 67.20%.
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Several research firms have weighed in on VVC. Zacks Investment Research raised Vectren Corp. from a “sell” rating to a “hold” rating in a research report on Tuesday, September 27th. Guggenheim began coverage on Vectren Corp. in a research report on Thursday, November 3rd. They set a “neutral” rating for the company.
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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