Vectren Corporation (VVC) Position Boosted by Comerica Bank
Comerica Bank boosted its position in shares of Vectren Corporation (NYSE:VVC) by 0.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 127,557 shares of the utilities provider’s stock after buying an additional 352 shares during the period. Comerica Bank owned approximately 0.15% of Vectren Corporation worth $7,583,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in VVC. Sei Investments Co. boosted its stake in Vectren Corporation by 20.0% in the first quarter. Sei Investments Co. now owns 1,973 shares of the utilities provider’s stock worth $115,000 after buying an additional 329 shares during the period. Global X Management Co. LLC boosted its stake in Vectren Corporation by 220.7% in 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 during the period. Birch Hill Investment Advisors LLC purchased a new stake in Vectren Corporation during the first quarter worth about $200,000. Stratos Wealth Partners LTD. purchased a new stake in Vectren Corporation during the first quarter worth about $201,000. Finally, GW Henssler & Associates Ltd. purchased a new stake in Vectren Corporation during the first quarter worth about $202,000. Institutional investors own 64.45% of the company’s stock.
Shares of Vectren Corporation (NYSE VVC) opened at 60.91 on Monday. The company has a market cap of $5.05 billion, a PE ratio of 22.57 and a beta of 0.81. The company has a 50 day moving average of $59.63 and a 200 day moving average of $58.75. Vectren Corporation has a 1-year low of $46.52 and a 1-year high of $62.79.
Vectren Corporation (NYSE:VVC) last released its quarterly earnings data on Thursday, August 3rd. The utilities provider reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.02. The company had revenue of $630.70 million for the quarter, compared to analyst estimates of $565.12 million. Vectren Corporation had a net margin of 8.66% and a return on equity of 12.65%. Vectren Corporation’s revenue for the quarter was up 18.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.39 EPS. Equities analysts expect that Vectren Corporation will post $2.62 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Tuesday, August 15th will be paid a dividend of $0.42 per share. The ex-dividend date of this dividend is Friday, August 11th. This represents a $1.68 annualized dividend and a dividend yield of 2.76%. Vectren Corporation’s dividend payout ratio is presently 62.22%.
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A number of research firms have issued reports on VVC. Zacks Investment Research cut shares of Vectren Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, August 16th. BidaskClub upgraded shares of Vectren Corporation from a “sell” rating to a “hold” rating in a report on Friday, August 4th. Finally, Citigroup Inc. upped their price target on shares of Vectren Corporation from $58.00 to $66.00 and gave the company a “buy” rating in a report on Tuesday, May 9th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $65.50.
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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