BNP Paribas Arbitrage SA Boosts Stake in Vectren Corporation (VVC)
BNP Paribas Arbitrage SA raised its position in Vectren Corporation (NYSE:VVC) by 164.6% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 57,001 shares of the utilities provider’s stock after buying an additional 35,456 shares during the period. BNP Paribas Arbitrage SA owned about 0.07% of Vectren Corporation worth $3,331,000 at the end of the most recent reporting period.
A number of other institutional investors have also made changes to their positions in VVC. Sei Investments Co. boosted its position in shares of 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 last quarter. Global X Management Co. LLC boosted its position in shares of 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 last quarter. Birch Hill Investment Advisors LLC acquired a new position in shares of Vectren Corporation during the first quarter worth about $200,000. Stratos Wealth Partners LTD. acquired a new position in shares of Vectren Corporation during the first quarter worth about $201,000. Finally, Oakbrook Investments LLC boosted its position in shares of Vectren Corporation by 2.0% in the second quarter. Oakbrook Investments LLC now owns 3,540 shares of the utilities provider’s stock worth $207,000 after buying an additional 70 shares during the last quarter. Institutional investors own 63.82% of the company’s stock.
Vectren Corporation (NYSE:VVC) opened at 66.89 on Monday. The firm has a market cap of $5.55 billion, a price-to-earnings ratio of 24.78 and a beta of 0.81. Vectren Corporation has a 52-week low of $46.52 and a 52-week high of $67.17. The stock has a 50 day moving average of $60.60 and a 200-day moving average of $59.13.
Vectren Corporation (NYSE:VVC) last posted its earnings results on Thursday, August 3rd. The utilities provider reported $0.45 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.43 by $0.02. The company had revenue of $630.70 million during the quarter, compared to analyst estimates of $565.12 million. Vectren Corporation had a return on equity of 12.65% and a net margin of 8.66%. The company’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 company earned $0.39 EPS. On average, analysts expect that Vectren Corporation will post $2.62 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Tuesday, August 15th will be given a dividend of $0.42 per share. The ex-dividend date is Friday, August 11th. This represents a $1.68 annualized dividend and a dividend yield of 2.51%. Vectren Corporation’s payout ratio is currently 62.22%.
A number of brokerages have issued reports on VVC. Zacks Investment Research upgraded shares of Vectren Corporation from a “sell” rating to a “hold” rating in a research report on Friday. BidaskClub upgraded shares of Vectren Corporation from a “sell” rating to a “hold” rating in a research report on Friday, August 4th. Finally, Citigroup Inc. lifted their target price on shares of Vectren Corporation from $58.00 to $66.00 and gave the stock a “buy” rating in a research report on Tuesday, May 9th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $65.50.
About Vectren Corporation
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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