Ameriprise Financial Inc. Raises Holdings in Vectren Corporation (VVC)
Ameriprise Financial Inc. boosted its holdings in Vectren Corporation (NYSE:VVC) by 2.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 289,256 shares of the utilities provider’s stock after acquiring an additional 6,168 shares during the quarter. Ameriprise Financial Inc. owned about 0.35% of Vectren Corporation worth $16,905,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of the business. Dorsey Wright & Associates bought a new stake in Vectren Corporation in the second quarter worth about $456,000. Fort Washington Investment Advisors Inc. OH raised its position in Vectren Corporation by 0.3% in the second quarter. Fort Washington Investment Advisors Inc. OH now owns 5,315 shares of the utilities provider’s stock worth $311,000 after acquiring an additional 15 shares in the last quarter. TIAA CREF Investment Management LLC raised its position in Vectren Corporation by 2.8% in the second quarter. TIAA CREF Investment Management LLC now owns 196,942 shares of the utilities provider’s stock worth $11,509,000 after acquiring an additional 5,278 shares in the last quarter. Teachers Advisors LLC raised its position in Vectren Corporation by 10.5% in the second quarter. Teachers Advisors LLC now owns 148,187 shares of the utilities provider’s stock worth $8,660,000 after acquiring an additional 14,065 shares in the last quarter. Finally, Riverhead Capital Management LLC raised its position in Vectren Corporation by 112.7% in the second quarter. Riverhead Capital Management LLC now owns 12,825 shares of the utilities provider’s stock worth $749,000 after acquiring an additional 6,795 shares in the last quarter. Hedge funds and other institutional investors own 63.11% of the company’s stock.
In related news, Director Derrick Burks bought 1,000 shares of Vectren Corporation stock in a transaction on Thursday, September 28th. The shares were purchased at an average price of $65.60 per share, for a total transaction of $65,600.00. Following the completion of the acquisition, the director now owns 1,000 shares in the company, valued at $65,600. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.14% of the stock is currently owned by company insiders.
Several equities research analysts have commented on the stock. BidaskClub upgraded shares of Vectren Corporation from a “sell” rating to a “hold” rating in a research report on Friday, August 4th. Zacks Investment Research cut shares of Vectren Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, August 9th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $65.50.
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Shares of Vectren Corporation (NYSE:VVC) opened at 66.19 on Thursday. Vectren Corporation has a 12-month low of $46.52 and a 12-month high of $68.30. The firm has a market cap of $5.49 billion, a P/E ratio of 24.52 and a beta of 0.81. The firm’s 50-day moving average price is $65.63 and its 200 day moving average price is $61.16.
Vectren Corporation (NYSE:VVC) last posted its quarterly earnings results on Thursday, August 3rd. The utilities provider reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.02. Vectren Corporation had a return on equity of 12.65% and a net margin of 8.66%. The business had revenue of $630.70 million for the quarter, compared to analysts’ expectations of $565.12 million. During the same quarter last year, the business earned $0.39 earnings per share. The firm’s quarterly revenue was up 18.2% compared to the same quarter last year. On average, equities analysts expect that Vectren Corporation will post $2.63 earnings per share for the current fiscal year.
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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